Insights: Posts tagged with "India"

India’s gold market in June: retail demand remained muted and imports declined

The domestic gold price declined by 0.7% during June, ending the month at Rs50,809/10g. Retail demand remained muted as the wedding season ended and sowing activity picked up with the onset of the monsoon.

India’s gold market in February: retail demand weakened further but imports rebounded

Retail demand weakened as a sudden spike in the gold price resulted in the postponement of gold purchases in the second half of the month.

India’s gold market in January: retail demand remained soft and imports declined

Retail demand remained soft in January due to the reintroduction of COVID restrictions, a lack of auspicious wedding dates and a higher gold price in the second half of the month.

India’s gold market in June: retail demand improved as lockdowns eased

Retail demand improved as lockdowns eased, while the correction in the domestic gold price lured local investors towards gold ETFs. The Reserve Bank of India (RBI) added 9.4t of gold to its reserves in the month increasing its total gold reserves to 705.6t.

India’s gold market in March: Indian imports were highest in a decade amid robust retail demand and re-stocking by trade

Explore India's gold market in March - domestic gold prices, retail gold demand, official imports, RBI gold data and more...

India’s gold market in October: Indian retail demand improved but still lower y-o-y

Explore India's gold market in September - gold prices, economic recovery, India's retail gold market and more...

India’s gold market in August: Indian imports hit nine-month high but retail demand remained weak

Demand for safe haven assets and strong year-to-date performance, coupled with the price correction likely seen by investors as a buying opportunity, supported gold ETF flows. On the other hand, retail gold demand weakened as consumers waited on the sidelines following a sharp correction in the domestic gold price amid rising COVID-19 cases.

India’s gold market in July: Indian imports hit five-month high as market returns in premium

Mukesh Kumar provides an update on India's gold market in July. Explore Indian jewellery demand, investment demand, gold imports, the gold price, central bank gold and more.

Supply-chain disruptions impact on Indian gold market

To curb the spread of COVID-19, the global restrictions have impacted the global gold supply chain, from production to refining. These supply-chain disruptions have impacted both bullion and gold dore’ imports into India.

India’s gold market in February: Strong inflows in gold ETF amid weak consumer demand

The domestic gold price increased by 4.1% in February m-o-m and 8.4% higher than the end of 2019. The rising gold price and higher volatility in the market lured investors towards gold ETFs.

Gold demand tailed off in second half of December with start of inauspicious period and higher gold price

Wedding and stable domestic gold price at ~Rs 37800/10gm helped demand in first half of December but demand tailed off after 15th December after the beginning of inauspicious period and rising gold price which jumped by 3.7% from mid-December till end of the month.

Higher prices and custom duty dampened Indian demand in July

• Indian gold imports reached just 37.7t in July 2019 – 49% lower than the same month last year 
• The domestic gold price was 2.3% higher in July compared to June; 23% higher y-t-d
• The custom duty on gold was unexpectedly raised by 2.5% in the Union Budget on 5th July
• With elevated domestic gold prices and a higher custom duty, the discount in the local gold market reached a peak of US$28/oz in July
• Volatile prices and weak physical demand encouraged healthy gold futures trading on MCX: volumes touched a high of 46.8t in July

Coming soon: monthly blog posts on India and China

We will soon be launching two regular blog posts– monthly updates on India and China by Mukesh and Ray, our analysts in Mumbai and Shanghai. These monthly posts will provide a snapshot of the health of these two global heavyweights, which together account for around half of annual global consumer demand. 

Gold demand strides confidently into 2019 – up 5% year-on-year.