The world’s second-biggest consumer of the precious metal imported around 60 tonnes of gold in August, up from 32.1 tonnes a year ago India’s gold imports in August nearly doubled from a year ago to the highest level in eight
India’s gold demand (for jewellery and retail investment) will weaken to 350-400 tonnes in FY21 compared to an average demand of 700 tonnes since 2016, due to the country facing its worst-ever recession this year, according to a report by
Imports of the yellow metal stood at $13.16 billion (about Rs 91,440 crore) in the corresponding period of 2019-20. New Delhi: India’s gold imports, which have a bearing on the current account deficit (CAD), plunged 81.22 per cent to $2.47 billion
Gold prices on Monday jumped to Rs 48,948 from Rs 48,888 per 10 gram, while silver prices edged marginally lower to trade at Rs 51,740 from Rs 51,745 per kg, acording to India Bullion and Jewellers Association. Gold jewellery prices
A nationwide lockdown and closed jewellery shops across India have led to a severe fall in gold demand, leading to near-negligible gold imports in the month of May. The gold imports in the month have fallen by 99 per cent
The import of the yellow metal stood at USD 3.97 billion in April 2019, according to the commerce ministry’s data. India’s gold imports contracted for the fifth consecutive month in a row, falling by about 100 per cent to USD
It is unfortunate that the impact of the current lockdown on the gold jewelry industry is extremely stressful. In fact, once the lockdown is lifted this is one industry that will find getting back to normalcy tougher than other sectors.
Gold jewellery retail is a shimmering business in ways more than one. But a warren of risks that have built up of late – such as higher import duty, elevated gold prices, sluggish demand, and tighter lending – is set to dull some of
Gold imports, which have a bearing on the country’s current account deficit (CAD), fell 14.23 per cent to $ 28.2 billion during 2019-20, according to commerce ministry data. Imports of the yellow metal stood at $ 32.91 billion in 2018-19.
The government will issue sovereign gold bonds beginning 20 April offering an annual interest rate of 2.50 percent to domestic investors, the Reserve Bank of India said on Monday. Sovereign Gold Bond 2020-21 will be issued by Reserve Bank India on
