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 sources taking advantage of the high gold price at a time when they are fiscally stretched.” The central banks of Turkey and Uzbekistan sold 22.3 tons and 34.9 tons of gold, respectively, in the third quarter, the WGC said. Overall bullion demand fell 19% year-on-year to the lowest since 2009 in the latest quarter, the WGC said, largely thanks to continued weakness in jewelry buying.

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History of this topic

WGC sees modest demand for gold in 2025, central bank demand crucial
1 week, 3 days ago

WGC sees modest demand for gold in 2025, central bank demand crucial

New Indian Express  

MUMBAI: After a sizzling growth both in terms of demand as well as in prices, which had crossed the USD 2750 mark this week, mostly led by huge demand from central banks and the safe-haven nature of the metal from an investor’s perspective in the years gone by, gold demand is seen moderating in 2025. According to the World Gold …

India tops global gold purchases, adds 27 tonnes to the reserves
2 weeks, 4 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 …

At 78 tonnes, RBI’s Gold Purchases till Oct Second Highest After 2009
2 weeks, 4 days ago

At 78 tonnes, RBI’s Gold Purchases till Oct Second Highest After 2009

Deccan Chronicle  

CHENNAI: The Reserve Bank of India added 27 tonnes of gold to its reserves in October, taking its total gold purchases year-to-date to 78 tonnes, the highest since it bought 200 tonnes from IMF in 2009. With the October purchase, RBI’s total gold reserves touched 882 tonnes. India bought gold in the month which saw prices trading around Rs 76,000 …

Asia Gold-India gold premiums steady as price fluctuations stabilise demand
3 weeks, 3 days ago

Asia Gold-India gold premiums steady as price fluctuations stabilise demand

Live Mint  

* Demand was strong at beginning of the week - Indian trader * Demand seen improving with the onset of wedding season in India * China has issued import quotas to manage gold flows - analyst By Rajendra Jadhav and Rahul Paswan Nov 29 - Physical gold premiums were steady in India, as a rise in demand from this week's …

Is it a good time to buy gold? 3 things you should know
1 month ago

Is it a good time to buy gold? 3 things you should know

India Today  

Gold prices in India have been on the rise over the past few days, showing upward movement in the market. The rise in gold prices is attributed to a softer US dollar and increased investor interest in safe-haven assets amid geopolitical and economic concerns. FACTORS INFLUENCING GOLD PRICES Geopolitical tensions - Jateen Trivedi, VP Research Analyst at LKP Securities, said …

Why now could be just the right time to invest in gold: Read our guide to what China's rise, Putin's ambitions and Trump's return all mean for the ultimate safe-haven asset
1 month, 1 week ago

Why now could be just the right time to invest in gold: Read our guide to what China's rise, Putin's ambitions and Trump's return all mean for the ultimate safe-haven asset

Daily Mail  

Remember the BRICS – Brazil, Russia, India and China? But China, Russia and other attendees at Putin's bash last month are not just buying gold for financial reasons – political machinations are also at play. So much so that two-thirds of central banks from emerging market countries said gold will account for a bigger share of global reserves in five …

India's Gold Rush: 51% More Than China in 3 Months
Trending News
1 month, 3 weeks ago

India's Gold Rush: 51% More Than China in 3 Months

Firstpost  

India's gold buying surge has been driven by a combination of factors, including the easing of import duties, revenge buying, and wedding and festive demand. The country's demand for gold has surged by 51% in the past three months, with Indians purchasing 248.3 tonnes of gold during July-September 2024. This surge has placed India as the largest gold importer in …

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 …

After gaining 29% so far this year, gold may sizzle at Rs 8,000 per gram by December
2 months, 3 weeks ago

After gaining 29% so far this year, gold may sizzle at Rs 8,000 per gram by December

New Indian Express  

MUMBAI: Bullion prices continued to sizzle for the third day, on the back of the global rally that has gained an unprecedented speed since the US Fed cut the interest by 50 bps for the first time in four years. “We are revising up our 2024 gold price forecast from $2,250/oz to$2,375/oz, expecting gold prices to trade within the range …

Gilty pleasure: India is where gold came to shine
3 months, 2 weeks ago

Gilty pleasure: India is where gold came to shine

Hindustan Times  

India has held a glowing if strange position in the history of humans and gold. “We are only just beginning to realise how much Roman gold ended up in Indian pockets,” says historian William Dalrymple. “The trade then was in hyper-luxuries, the equivalent of Gucci bags today, and Pliny couldn’t understand why Romans were paying so much for transparent silk …

India's gold demand cools post-festival as prices surge and RBI hits record reserves
6 months ago

India's gold demand cools post-festival as prices surge and RBI hits record reserves

Hindustan Times  

The World Gold Council has released its latest update on India's gold market, highlighting a period of subdued demand following the festival-driven surge in purchases. The international gold scenario After reaching an all-time high in mid-May, international gold prices saw a minor correction but still closed the month with a 1 per cent increase, settling at USD 2,343 per ounce. …

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, 2 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," …

RBI brings back 100 tonnes of India's gold held in UK, more to follow: How domestic gold reserves shows a robust. confident economy
6 months, 3 weeks ago

RBI brings back 100 tonnes of India's gold held in UK, more to follow: How domestic gold reserves shows a robust. confident economy

Op India  

In a significant move, the Reserve Bank of India has brought back 100 tonnes of gold to its domestic vaults for the first time since early 1991. RBI bringing back chunks from its gold reserves in the Bank of England reflects India’s economic strength and confidence. In response to the devastating economic situation, the Chandra Shekhar government decided to pledge …

RBI shifts 100 tonnes of gold from UK to its vaults, a first since 1991
6 months, 3 weeks ago

RBI shifts 100 tonnes of gold from UK to its vaults, a first since 1991

Hindustan Times  

The Reserve Bank of India shifted over 100 tonnes of gold from the UK to its vaults in the country for the first time since 1991. As per RBI's annual data, the central held held 822.10 tonnes worth of gold as a part of its foreign exchange reserves as of March 31, 2024. Share of gold in India's total foreign …

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 …

Central bank gold purchases a hedge against sanctions risk: Gita Gopinath
7 months, 2 weeks ago

Central bank gold purchases a hedge against sanctions risk: Gita Gopinath

Deccan Chronicle  

Chennai: Several Central banks have been increasing gold holdings in their forex reserves. “Looking at global FX reserves, the most notable development during 2022-23 has been an increase of gold purchases by central banks,” First Deputy Managing Director of IMF Gita Gopinath said in a speech. This suggests that gold purchases by some central banks may have been driven by …

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 …

Gold prices: Precious metal rates stabilised, hovering around ₹72,000 per 10 gram; Is it right time to invest?
7 months, 4 weeks ago

Gold prices: Precious metal rates stabilised, hovering around ₹72,000 per 10 gram; Is it right time to invest?

Live Mint  

Gold prices stabilized as concerns over tensions in the Middle East diminished, with investors gearing up for forthcoming U.S. economic data expected later in the week, on Wednesday. According to reports, in a span of only 10 days, gold prices have seen a significant decline of ₹2,900, now standing at ₹71,065 per 10 grams compared to the recent peak of …

Gold prices rise for sixth week on rising Iran-Israel war fears. US Fed rate, US dollar price in focus
8 months ago

Gold prices rise for sixth week on rising Iran-Israel war fears. US Fed rate, US dollar price in focus

Live Mint  

Gold rate today: Amid rising geo-political tension in the Middle East region on the rising fears of the Iran-Israel war, gold prices continue to scale high for the sixth week in a row. According to commodity market experts, the gold rate today is on an uptrend due to the rising geo-political risk in the Middle East after the alleged reports …

What’s next for gold? Look to China for clues
8 months, 3 weeks ago

What’s next for gold? Look to China for clues

Live Mint  

The country’s central bank has pushed its gold reserves to a record level. State Street Global Advisors, which manages the world’s largest spot-gold ETF, was more bullish: The firm said it expects gold prices to reach between $2,200 and $2,400 once the Fed starts to lower rates later this year. The People’s Bank of China bought more gold than any …

RBI’s Gold Reserves At All Time High At 817 Tonnes
9 months ago

RBI’s Gold Reserves At All Time High At 817 Tonnes

Deccan Chronicle  

The RBI added 4.7 tonnes of gold in February, taking its gold reserves to an all-time high of 817 tonnes. The RBI had added nearly 9 tonnes in January, which was the first monthly increase in its gold reserves since October 2023 and the largest since July 2022. The Reserve Bank of India bought 77 tonnes of gold in 2021 …

Gold demand in India may hit 900 tonnes this year
10 months, 1 week ago

Gold demand in India may hit 900 tonnes this year

Live Mint  

The demand for gold in India, which has been in the range of 700-800 tonnes annually since 2019, is expected to increase to 800-900 tonnes in the calendar year 2024 on the back of robust economic growth and higher income, Somasundaram P.R., managing director at the World Gold Council, told Mint. However, a pick up in the purchase of gold …

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 …

Elections in major economies to support gold's performance: WGC
1 year ago

Elections in major economies to support gold's performance: WGC

Deccan Chronicle  

Chennai: Heightened geopolitical tensions in key elections in many major economies, combined with continued central bank buying could provide additional support for gold in 2024, finds the World Gold Council. The Fed’s policy can determine the gold’s performance from a muted one to a 10 per cent gain. And in a year with major elections taking place globally, including in …

Gold is going to be record costly and de-dollarisation is the reason
1 year, 6 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 …

Near term gold prices likely to remain under pressure: Buy or wait?
1 year, 9 months ago

Near term gold prices likely to remain under pressure: Buy or wait?

Live Mint  

Gold prices have been under pressure as major global central banks tightened monetary policy. So in near term gold prices may remain under pressure but from last 6 months more than investors central banks remain major buyers in gold for diversification. Kunal Shah said “The reasons now gold is a strategic investment as rapid rise in balance sheet of central …

Gold price rebounds from 2-month low. Should you buy or wait for next sell off?
1 year, 9 months ago

Gold price rebounds from 2-month low. Should you buy or wait for next sell off?

Live Mint  

Gold rate today: On account of ease in US dollar, gold prices in domestic and international market witnessed some bargain hunting in the week gone by. According to commodity market experts, correction in US dollar rates and Dollar Index retracing from the resistance levels was the major reason for bounce back in gold prices across world in the week gone …

Gold prices suffer worst monthly drop in over a year as rate-hike concerns take center stage
1 year, 9 months ago

Gold prices suffer worst monthly drop in over a year as rate-hike concerns take center stage

India TV News  

With fears that the U.S. Federal Reserve would continue to raise interest rates and a stronger dollar weighing on its appeal, gold prices on Tuesday were poised for their largest monthly decline since June 2021. Although gold prices reached their highest point since April 2022 in early February, they soon changed direction, with strong economic data boosting expectations of more …

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 …

Gold rates today in India fall sharply from 9-month highs, silver slumps
2 years ago

Gold rates today in India fall sharply from 9-month highs, silver slumps

Live Mint  

Precious metal prices fell sharply in India after US Federal Reserve hiked rate last night and signalled more hikes next year. “US Fed hiked rates by 50 bps along expected lines to take the target Fed funds rate range to 4.25-4.50%. The Dot plot which indicates Fed members' expectations of future rate hikes indicated median expectation for Fed funds rate …

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 …

India’s gold demand dips as inflation hits rural buyers
2 years, 1 month ago

India’s gold demand dips as inflation hits rural buyers

Live Mint  

India's gold consumption in the months of October to December could fall by around a quarter from a year ago as inflation depresses rural demand, the World Gold Council said on Tuesday. In the December quarter, India's gold demand could fall to around 250 tonnes from 343.9 tonnes a year ago, Somasundaram said. The drop could bring down India's total …

Inflation, price rise could dent India's gold demand in July-December: World Gold Council
2 years, 4 months ago

Inflation, price rise could dent India's gold demand in July-December: World Gold Council

The Hindu  

India's gold demand in the first half of 2022 jumped 42% from a year ago but consumption in the second half could be lower than last year as higher inflation erodes disposable income, the World Gold Council said on July 28. India's demand for gold jumped 43% from a year ago to 170.7 tonnes in the quarter through June as …

RBI’s 77 tonne gold buy is 2nd highest
2 years, 10 months ago

RBI’s 77 tonne gold buy is 2nd highest

Deccan Chronicle  

Chennai: The Reserve Bank of India bought 77 tonnes of gold in 2021 and this was the highest addition since 2009 when India bought 200 ton-nes from the International Monetary Fund, said the World Gold Council. In 2021, central banks accumulated 463 tonnes of gold and this was 82 per cent higher than 255 tonnes purchased in 2020. According to …

What is behind India's renewed love for gold?
2 years, 11 months ago

What is behind India's renewed love for gold?

Business Standard  

Indians will build on their love for gold this year, as pent-up demand heralds a period of robust sales. Gold’s price drop favoured retail buyers and there was strong pent-up demand for weddings in October last year.“Rising incomes are one of the biggest single drivers of long-term gold demand. This suggests that as India’s economy grows, demand for gold should …

Indians offload gold heirlooms as coronavirus deepens financial pain
3 years, 5 months ago

Indians offload gold heirlooms as coronavirus deepens financial pain

Hindustan Times  

Paul Fernandes, a 50-year-old waiter in India, last year took out a loan using his gold as collateral to pay for his children’s education after losing his job on a cruise liner. With the pandemic pushing millions into poverty or bankruptcy, many Indians are now turning to their last resort: selling their gold jewelry to make ends meet. “Selling my …

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 …

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, …

Gold sales down even as the yellow metal\'s price skyrockets
4 years, 4 months ago

Gold sales down even as the yellow metal\'s price skyrockets

Deccan Chronicle  

MUMBAI: Jewellers in the traditionally lucrative Indian gold market are struggling even while the metal's value skyrockets as coronavirus fears keep sales down, craftsmen at home and shops shuttered. The Mumbai market was hit hard by the March lockdown, which saw millions of migrant workers including many gold craftsmen flee India's cities as their income dried up. "Initially, I was …

Why gold, silver prices are crashing
4 years, 4 months ago

Why gold, silver prices are crashing

Live Mint  

In India, gold prices have collapsed nearly ₹5,000 per 10 gram over two days while silver has plummeted ₹14,000 per kg. According to analysts, the sharp fall in gold prices has been triggered by Russia coronavirus vaccine news that led to profit-taking. However, hopes of fresh economic stimulus measures and rising US-China tensions continue to offer lower level support to …

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