Who are the mystery buyers of 4,00,000 kg of gold?
2 years, 1 month ago

Who are the mystery buyers of 4,00,000 kg of gold?

Live Mint  

Global gold demand has returned to pre-covid levels, driven by stronger consumer and central bank buying. Gold demand in the September quarter was 28% higher year-on-year at 1,181 tonnes and on year-to-date basis, demand increased 18% vs the same period in 2021, returning to pre-pandemic levels, according to World Gold Council's latest report. This lifts year-to-date net purchases to 673 tonnes, surpassing all annual totals since 1967, says World Gold Council. It also marks the eighth consecutive quarter of net purchases and lifts the year-to-date total to 673 tonnes, higher than any other full year total since 1967,” the global gold body said. In turn, this may result in future revisions as more information becomes available.” Not all countries report their gold purchases regularly, including major ones like China and Russia, according to Bloomberg.

Bank Central Banks Central Quarter Tonnes World Gold Council Gold Reserves Gold Purchases  quarter  mystery  demand  world  yeartodate  buyers  bank  gold  purchases  tonnes  q3  400000  kg  central

History of this topic

Gold rises for fifth day
1 week, 5 days ago

Gold rises for fifth day

Live Mint  

Dec 12 - Gold nudged higher for a fifth straight session on Thursday to hover near a more than two-week peak, supported by increased expectations of an interest rate cut from the Federal Reserve next week after U.S. inflation data came in line with forecast. * U.S. consumer prices increased by the most in seven months in November, but that …

World’s largest gold deposit worth over £63 billion discovered in China
2 weeks, 3 days ago

World’s largest gold deposit worth over £63 billion discovered in China

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China says it has discovered …

India tops global gold purchases, adds 27 tonnes to the reserves
2 weeks, 5 days ago

India tops global gold purchases, adds 27 tonnes to the reserves

Live Mint  

Gold buying by central banks surged to 60 tonnes in October, mainly led by the Reserve Bank of India which added 27 tonnes of the precious metal to its reserves, the World Gold Council said on Thursday. India added 27 tonnes of gold in October, bringing its total gold purchases to 77 tonnes from January to October, according WGC data …

Global Gold Demand Soars 5% in Q3, Hitting 1,313 Tonnes
Trending News
1 month, 3 weeks ago

Global Gold Demand Soars 5% in Q3, Hitting 1,313 Tonnes

ABP News  

Global gold demand surged by 5% in the third quarter of 2024, reaching 1,313 tonnes. This growth was driven by strong investment activity amid record-high gold prices. Central bank gold purchases fell by nearly half, declining 49 per cent to 186.2 tonnes compared to 363.9 tonnes during the same period in 2023.

Gold ETFs: A Rising Trend Amidst Rising Interest Rates
1 month, 3 weeks ago

Gold ETFs: A Rising Trend Amidst Rising Interest Rates

New Indian Express  

Gold ETFs continue to outperform equities, with retail investor accounts in gold ETFs increasing by 15 times over the last five years. The rising retail demand for gold is driven by factors such as central banks' gold purchases and the geopolitical and financial environment. While the 1970s and early 2000s saw significant gold price fluctuations due to wars, central banks …

Chinese 'Gold ATMs' shine at expo
4 months, 2 weeks ago

Chinese 'Gold ATMs' shine at expo

China Daily  

A Kinghood employee addresses queries on the company's gold exchange machines during the 2024 China Gold Congress and Expo last week. Chinese jewelry company Kinghood Group has rolled out automated gold exchange machines in Shenzhen, Guangdong province, which recently went online in the coastal city in South China. "The system evaluates the gold purity, weight and price within three minutes, …

Chinese 'Gold ATMs' shine at expo
4 months, 2 weeks ago

Chinese 'Gold ATMs' shine at expo

China Daily  

A Kinghood employee addresses queries on the company's gold exchange machines during the 2024 China Gold Congress and Expo last week. Chinese jewelry company Kinghood Group has rolled out automated gold exchange machines in Shenzhen, Guangdong province, which recently went online in the coastal city in South China. "The system evaluates the gold purity, weight and price within three minutes, …

China's gold jewellery demand falls as international gold prices rise as global central banks buy gold
4 months, 3 weeks ago

China's gold jewellery demand falls as international gold prices rise as global central banks buy gold

Hindustan Times  

China, one of Asia's biggest consumers of gold apart from India is slowly turning its back against it, Christopher Wood, global head of equity strategy at Jefferies wrote in his weekly note to investors, GREED & fear, adding that Gold recently moved to a discount in Shanghai for the first time since June 2023, dropping from a $63/ounce premium to …

China’s central bank to return to gold buying as prices ease, analysts say
6 months, 1 week ago

China’s central bank to return to gold buying as prices ease, analysts say

Live Mint  

By Brijesh Patel and Ashitha Shivaprasad SINGORE, - China, the biggest official sector buyer of gold, is expected to resume its bullion shopping spree once prices ease from the record highs hit in May, as the fundamental case for the metal remains, industry players said at a conference this week. After adding to its gold reserves for 18 consecutive months, …

Gold demand in India expected to be 700-800 tonnes in 2024: WGC India CEO Jain
6 months, 3 weeks ago

Gold demand in India expected to be 700-800 tonnes in 2024: WGC India CEO Jain

Live Mint  

NEW DELHI : Gold remains a favoured hedge, with demand not shrinking despite prices shooting up. The demand for gold in India in 2024 is likely to be similar to last year, Sachin Jain, the chief executive, World Gold Council, said in an interview. If there is more consistency in prices, we foresee the demand to touch around 800 tonnes," …

Gold maintains glitter as haven for investors
7 months, 1 week ago

Gold maintains glitter as haven for investors

China Daily  

A shopper tries on a gold bracelet at a jewelry store in Chongqing. The attractiveness of gold is expected to increase in the months to come, fueled by prudent domestic monetary policy and lower interest rates, which will further reduce the cost of investing in gold and prompt investors to seek other wealth storage options like precious metals, said Wang …

China influencing global gold prices with robust demand
7 months, 2 weeks ago

China influencing global gold prices with robust demand

Hindustan Times  

Amid geopolitical and economic uncertainties, gold has emerged as a favored investment, witnessing a significant price surge triggered by Russia's invasion of Ukraine and the conflict between Israel and Palestine. China's already substantial impact on gold markets has become even more pronounced during this recent bullish trend, marked by a nearly 50 per cent surge in global prices since late …

Global Gold Demand Slips 5% In 2023, China Leads With 17% Demand For Jewellery After Pandemic: WGC
10 months, 3 weeks ago

Global Gold Demand Slips 5% In 2023, China Leads With 17% Demand For Jewellery After Pandemic: WGC

ABP News  

Global gold demand reduced by 5 per cent in 2023, against the preceding year, owing to continuing Exchange-Traded Fund outflows, the World Gold Council revealed in its report. The report titled, ‘WGC’s Gold Demand Trends 2023’, found that global gold demand stood at 4,448.4 tonne in 2023, against 4,699 tonne in 2022. The report found that the global jewellery market …

Gold is going to be record costly and de-dollarisation is the reason
1 year, 7 months ago

Gold is going to be record costly and de-dollarisation is the reason

Firstpost  

The greenback is losing favour with a whole bunch of nations that are the better growing economies of the world given the duress that the Russian invasion of Ukraine has put the global economic order under. Global central banks are making a run for gold, the demand for which reached record high in 2022. According to reports, in 2022, central …

Gold is getting back its classic glitter as a safe inflation hedge
1 year, 11 months ago

Gold is getting back its classic glitter as a safe inflation hedge

Live Mint  

When I recently talked to some school children about the nature of money, I brought props: a cowrie shell, a piece of play paper and a small handful of shredded dollar bills. Instead, even as inflation hit close to 10% in the US, pretty much everywhere, the gold price did nothing. Outflows from gold ETFs also slowed for the third …

What’s happening to Russian gold?
2 years, 5 months ago

What’s happening to Russian gold?

Al Jazeera  

A ban is in the works but the question is, how effective will it be in limiting Putin’s war chest? “The sanctions imposed from 24th June apply to all new Russian gold, but do not apply to Russian gold produced before this date and held outside that country.” Haven’t some countries already banned Russian gold? Yes, there has been an …

High gold prices increased demand for gold loans amid pandemic: WGC Report
4 years, 1 month ago

High gold prices increased demand for gold loans amid pandemic: WGC Report

India TV News  

Incessant surge in gold prices led to higher demand for gold loans amid the pandemic and increased the asset under management of major gold loan NBFCs, according to a report by World Gold Council. "The 28.8 per cent rally in domestic gold price this year has led to increased demand for gold loans. "Demand during the pandemic has pushed gold …

Central Banks sell gold for 1st time in a decade
4 years, 1 month ago

Central Banks sell gold for 1st time in a decade

Live Mint  

Central banks became gold sellers for the first time since 2010 as some producing nations exploited near-record prices to soften the blow from the coronavirus pandemic. While inflows into exchange-traded funds have driven gold’s advance in 2020, buying by central banks has helped underpin bullion in recent years. “Virtually all of the selling is from banks who buy from domestic …

Coronavirus, hurting jobs and loans, has Indians selling the family gold
4 years, 3 months ago

Coronavirus, hurting jobs and loans, has Indians selling the family gold

Live Mint  

Investors across the globe are hoarding gold in the Covid-19 pandemic. At the same time, jewelry demand in India, the world’s second-largest consumer of gold behind China, plunged by 74% in the three months through June, according to the World Gold Council. “From time immemorial gold has been the savings and insurance policies for India’s poor,” said George Alexander Muthoot, …

Discover Related