Gold prices have seen a notable weekly gain of more than 3%, marking their first increase in four weeks. This surge is primarily attributed to ongoing geopolitical tensions, notably the recent conflict between Israel and Hamas. The surprise attack by Hamas on Israel has escalated the situation, leading Israel to declare war. The United States … Read more
India‘s gold demand in 2023 could fall 10% from a year ago to their lowest in three years, as record high prices are dampening retail purchases, the World Gold Council (WGC) said on Tuesday. The lower purchases in the world’s second-biggest gold consumer could limit a rally in global prices. Falling demand for gold imports … Read more
Globally, gold prices are languishing near a two-and-a-half-year low, weighed down by a rapid rise in global interest rates and a surging US dollar. The benchmark London gold has corrected by about 20 per cent from its March high when the Russian-Ukraine tensions shot up gold prices to near record peaks. Meanwhile, domestic prices are … Read more
India’s exports rose 22.36% to $33.81 billion in February, led by engineering, petroleum and chemicals, preliminary data released by the commerce and industry ministry Wednesday showed. Imports grew 34.9% to $55 billion on the back of a sharp 66.56% jump in oil imports to $15 billion, widening the trade deficit to $13.12 billion. “A rebound … Read more
By Rajendra Jadhav MUMBAI: India’s gold demand in the fourth quarter is expected to recover after falling 30% in the previous quarter as festivals are expected to strengthen retail jewellery purchases, the World Gold Council (WGC) said on Thursday. “We expect quarter four would be better than quarter three due to pent-up demand and festivals,” … Read more
BENGALURU/MUMBAI: Chinese discounts for physical gold scaled yet another record peak versus global spot rates this week as the Covid-19 pandemic continued to choke retail appetite, with even a price dip failing to lure consumers in India. Gold has been sold at discounts in China, usually the world’s top bullion consumer, since February. Discounts widened … Read more