Goldhub blog: Posts tagged with "India"
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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: Pretty sideways performance in #gold over the past few weeks, currently trading around $1283-1284/oz. https://t.co/sNhbsHzttw
Gold: After a torrid couple of weeks, which saw gold fall from around $1310/oz to lows below $1270, #gold has posted a bit of a recovery over the past three days and is now at the highs of the week.
(short thread) https://t.co/thWIorpN00
