The Indian gold industry is an important part of the country’s economy, contributing 1.3% to Indian GDP. Although still fragmented, the industry has become more organized and regulated over the last few years. Chain stores have gained market share at the expense of stand-alone retailers, increasing their share to…Continue readingThe Indian gold markets.
Prior to U.S. trading on Monday, gold prices in the wholesale market climbed to $1,758 per ounce. The euro, stocks, and other commodities also gained following a stimulus-related announcement by Federal Reserve. This same announcement caused prices of government bonds to fall. Meanwhile, India gold demand remained low, causing…Continue readingIndia’s gold demand declines 18% to 135.5 tonnes as inflation hits buyers.
Gold had a mixed day of trading on Tuesday as its morning losses later reverted into gains by the end of the day. The price of gold in the global market moved back over $1,800 an ounce, after a poor day of trading on Monday had pushed them under…Continue readingGold Prices Fluctuate, As Indian Market Falls for Second Day
The decline in Indian gold rates was extended to a second day. Prices remained muted due to the fall in demand from jewelers, and a growing rupee heralding investor towards it. Gold rates for Tuesday fell by some Rs. 100 to reach the cumulative price of Rs. 32,000 per 10 grams…Continue readingGold Prices in India Fall for Second Day as Silver Rates Decline.
The occasion: Maha Kumbh Mela, often described as the ‘greatest show on earth’, wherein millions of devout individuals, led by naked ascetics (called sadhus) with ash smeared on their bodies, plunge into the icy cold waters of India’s holy Ganges river, in the belief that it can wash away…Continue readingImportance of gold jewellery in indian tradition.
India’s $27 billion gold loan market is undergoing a shakeout, with the new norms being put in place by the stock market regulator and the apex bank. With gold demand from India rising from 462 tonnes to an estimated 1,079 tonnes, both gold exchange traded funds and gold loans…Continue readingGold loans have huge growth potential in India.