Key Points
A report by the World Gold Council showed the demand surging 18 per cent on year to 248.3 tonnes in the September quarter due to a rise in jewellery consumption and investment in gold...
The global bodys Gold Demand Trends report shows that in terms of value, India's gold demand during the quarter surged 52 per cent on year to Rs 1.65 lakh crore compared with Rs 1.08 lakh crore in the same period last year...
The duty cut negated much of the rise in gold prices during August, which encouraged some early purchases for weddings scheduled over the next couple of quarters, as well as drawing out pent-up demand from previous quarters," Jain said, adding, Good monsoons also acted as a tailwind for robust growth in lower tier cities and rural areas...
Indias gold demand remains solid in the fourth quarter due to Dhanteras and wedding demand, although with the continued rise in the gold price offsetting the impact of the duty cut, we may see an increased trend for investors to wait for price corrections as opportunities to add to their holdings, the report said.. RBI Shores Up Its Gold Holdings..
While the higher gold price dampened demand in the majority of consumer markets, the import duty cut in India kept jewellery and bar and coin demand remarkably high in a record-breaking price environment," Street said.. China, the largest gold importer, saw its weakest third quarter since 2010, with gold jewellery demand 36 per cent below the 10-year average..
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