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World Gold Council News
World Gold Council
RBI to augment its gold reserves
Fri, May 10, 2019
Rising trade protectionist measures along with threat of a currency shock and dovish global monetary policy might compel RBI to augment its gold reserves.
World's biggest gold ETF will launch new low-fee fund
Sat, May 05, 2018
The move is a sign that cost competition among gold ETFs is heating up after a price war in the much larger equities ETF sector slashed management fees. Gold ETFs allow buyers to invest in physical gold without having to buy and store the metal
Rural purchases to boost Indian gold demand through December: WGC
Thu, May 03, 2018
Indian gold demand may improve through to December as positive monsoon rains and government efforts to raise farmer incomes could boost rural purchases enough to offset higher prices because of the weak rupee, the World Gold Council (WGC) said.
Indian gold demand wanes as jewellers expect import tax cut in budget
Tue, Jan 30, 2018
Gold prices in India, the world`s second-biggest user of the precious metal, were at discounts as jewellers were postponing purchases on the expectation that the government will announce an import tax cut in its annual budget on Thursday.
Gold has delivered positive returns over the long run: WGC
Tue, Jan 16, 2018
In 2017, investors added gold to their portfolios as incomes increased, uncertainty loomed, and gold’s positive price momentum continued, according to World Gold Council. As 2018 begins, the council explores four key market trends and their implications for gold:
Indian jewelry sector urges govt to reduce gold import duty
Mon, Nov 27, 2017
Indian gold demands declined 24% in Q32017 after witnessing three quarters growth. This has hampered the earnings of this sector.
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 ETFs surge by 31.4 tonnes in August; Europe accounts for 39% of global growth
Wed, Sep 06, 2017
Asia funds lost 2.4t (-$80mn, -3.0% AUM), with most of the gold-backed funds losing assets while derivatives demand increased through gold futures markets in the region.
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."
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.
Indian gold imports to drop back sharply after Q1 spike: WGC
Thu, May 18, 2017
Full-year imports will be little changed from 2016`s 524 tonnes, gold industry-funded WGC`s managing director for India Somasundaram PR said.
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."
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.
Demonetisation drive to favour country's big gold jewellery store chains: World Gold Council
Tue, Jan 24, 2017
India`s drive to bring transparency to bullion trading, along with the rise of branded gold jewellery, could help major retailers raise their share of the world`s second-biggest gold market to 40% by 2020, the World Gold Council (WGC) said.
Budget 2017: World Gold Council demands lowering of gold taxes from current 13%
Mon, Jan 23, 2017
"Total taxes on gold is about 13% at present. This has to come down, between GST and Customs duty, to a reasonable level so that there is no incentive to grey market," Somasundaram P R, head of the WGC's India operations, told PTI.
Note ban to benefit jewellery sector in long run: Industry
Tue, Jan 17, 2017
The jewellery industry, which suffered and saw about 80% drop in demand following the demonetisation, is slowly recovering, although it may take over a year for things to become normal, market experts said.
Gold coins to be most preferred this festive season: World Gold Council
Thu, Oct 13, 2016
On 5 November, 2015, Prime Minister Narendra Modi, had launched the Indian Gold Coin.
Gold slips on dollar strength after two sessions of gains
Tue, Oct 11, 2016
Gold prices edged lower in Asian trade on Tuesday after two sessions of gains, dragged down as the U.S. dollar strengthened. FUNDAMENTALS * Spot gold had dropped 0.3 percent to $1,256.30 an ounce by 0053 GMT.
Gold demand likely to fall to 750 tonnes in 2016 on high price: WGC
Thu, Sep 29, 2016
India's gold demand is likely to fall to around 750-800 tonnes in 2016, as against 860 tonnes last year, mainly due to sharp rise in prices and jewellers' strike following new regulations, World Gold Council (WGC) has said.
Indian gold demand to revive in H2 on surplus monsoon rains, says WGC
Thu, Aug 11, 2016
"We anticipate gold demand to return to normalcy during the peak season of weddings and festivals closer to Diwali, supported by good monsoons that will positively impact rural demand," Somasundaram PR, managing director of the WGC`s Indian operations, said on Thursday.