India’s gold market: evolution and innovation

In 2015 India was the world’s fast growing economy; in recent years millions have been lifted out of poverty and India’s middle class has swelled. This is important because our econometric analysis indicates income growth drives gold demand. 

Gold Demand Trends Q2 2016

Continued growth in Q2 2016 (+15%) brought total H1 gold demand to 2,335t – the second highest first half on record.

Gold Demand Trends Q1 2016

Gold demand reached 1,290 tonnes Q1 2016, a 21% increase year-on-year, making it the second largest quarter on record.

Gold Demand Trends Full Year 2015

Gold demand in the fourth quarter increased 4% year-on-year to a 10-quarter high of 1,117.7t. Full year demand was virtually unchanged, down just a fraction (-14t) to 4,212t. 

Gold Demand Trends Q3 2015

Third quarter gold demand rose by 8% year-on-year, reaching a two-year high of 1,120.9 tonnes. Q3 2015 was a period of two distinct halves: ETF outflows contributed to a price dip in July, which boosted consumer demand around the world.

Gold in a multicurrency reserve system

For many decades, the US dollar has been the main reserve currency worldwide and it still accounts for more than 50% of international reserves. However, its share has been gradually declining, while that of other currencies, like the Chinese RMB, has grown, signalling the potential emergence of a multicurrency reserve system.