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gold demand News
Budget 2019 Shocker: Gold custom duty hike is a double whammy for industry, says Malabar Gold & Diamonds Chairman Ahammed MP
Fri, Jul 05, 2019
Finance Minister Nirmala Sitharaman presented Budget 2019 in which she hiked indirect taxes like excise duty, custom duty in a big blow for the industry.
Gold prices dip over 1% as US Fed dashes rate-cut hopes; India's gold demand could fall fall 10% in 2019
Wed, Jun 26, 2019
As the US Federal Reserve officials played down expectations of aggressive rate cuts, while investors locked in profits following a strong rally, gold prices slipped over 1% today.
Asia Gold: India buyers cash in on dips; Lunar New Year boosts China demand
Fri, Jan 25, 2019
Demand has been slowly improving from retail buyers but still, higher prices are deterring many consumers, said Harshad Ajmera, the proprietor of JJ Gold House, a wholesaler in the eastern Indian city of Kolkata.
Safe haven lure fails to lift demand; Indian jewellers stock up
Fri, Dec 28, 2018
Benchmark global spot gold prices were headed for their biggest weekly gains in three on renewed interest for the metal due to concerns over a slowdown in global growth, heightened volatility in stock markets and political instability in the United States.
Central banks' gold demand to remain buoyant: WGC
Sat, Sep 22, 2018
"Looking ahead, we expect central bank demand to stay buoyant as diversification will continue to be an important driver of demand, as will the transition to a multipolar currency reserves system over the coming years," it said.
As equities plunge, will gold glitter this year?
Fri, Feb 09, 2018
The gold market in India is eagerly awaiting policy initiatives by the government. The finance minister has promised various positive initiatives for gold including a comprehensive policy and creation of a gold exchange.
Gold, silver domestic price slip on muted demand
Wed, Feb 07, 2018
Even as the precious metal strengthened overseas, gold prices tumbled Rs 265 per 10 grams at the bullion market in Mumbai today following a fall in investor demand and jewellery offtake.
Bull catches gold, bear tightens grip on the cash market
Tue, Feb 06, 2018
MCX Gold April 5 Future was trading 0.80% up at Rs 30,534 at 5.10 pm, same as intra-day price, following the global trend
Post GST gold demand drops 25% in India, 3% globally in Q2 FY18
Thu, Nov 09, 2017
Global gold demand slumps after India introduced GST and tightened the laws with Prevention of Money Laundering Act.
Gold jumps more than 1% on geopolitical risks
Tue, Nov 07, 2017
Gold rose more than 1 % on Monday, extending gains as geopolitical risks drove investors to safe-haven assets after the metal`s third-straight weekly decline. The U.S. dollar dropped against a basket of currencies, also boosting gold.
India rethinks jewellery sales oversight after slump in gold demand
Sat, Oct 07, 2017
Indian authorities withdrew on Friday an amendment that made jewellers subject to anti-money laundering legislation and caused a drop in gold sales.
India drives gold demand single-handedly in second quarter, WGC says
Thu, Aug 03, 2017
WGC said, "India drove global Q2 jewellery demand growth almost single-handedly. Demand shot up to 126.7t compared with just 89.8t in Q2 2016."
India's June gold imports spike as buyers tried to beat higher sales tax
Tue, Jul 11, 2017
Gold premiums in India jumped to $10 an ounce in the last week of June, the highest level in 7-1/2 months.
GST could dampen India gold demand in short-term: WGC
Thu, Jul 06, 2017
There have been fears the tax increase could stoke under-the-counter buying and drive up appetite for precious metal smuggled into India, where millions of people store chunks of their wealth in bullion and jewellery.
GST to boost gold industry, demand to touch 950 tonne by 2020, World Gold Council says
Thu, Jun 08, 2017
From last month, GST Council has been finalising the rates of various items. On Saturday, giving relief to jewellers, the council fixed 3% GST rate for the yellow metal.
GST of 3% on gold unlikely to dishearten Indian demand for the yellow metal
Mon, Jun 05, 2017
Gold jewellery demand is unlikely to be impacted by the GST rate of 3% which is higher than the current tax rate. Though prices of the yellow metal may increase including that of silver and diamonds, industry experts say it will not impact demand.
India continues to pull sluggish global gold demand higher
Thu, May 04, 2017
World Gold Council said, "The steady state of global demand concealed a more varied country-level picture. Gains were concentrated in India, Iran and the US, just outweighing modest losses elsewhere."
Akshaya Tritiya: Is buying Sovereign Gold Bond a better investment option?
Mon, Apr 24, 2017
Finance Minister, Arun Jaitley had announced in his Union Budget Speech of 2015-16 about developing sovereign gold bonds as a financial asset, an alternative to purchasing the metal gold.
India's gold demand may touch up to 950 tonnes level by 2020 on economic growth, greater transparency says WGC
Wed, Mar 08, 2017
World Gold Council on Wednesday said India's gold demand may go up to 950 tonnes level by 2020 on back of economic growth and greater transparency.
India's gold demand fell sharply by 21% to 676 ton in 2016
Fri, Feb 03, 2017
Gold demand in India witnessed a significant decline of 21 % in 2016 at 675.5 tonne, mainly due to challenges like jewellers strike, PAN card requirement and demonetisation move, says World Gold Council. The gold demand for 2015 stood at 857.2 tonne, the WGC data revealed.