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800-850 tonnes
- Somasundaram PR, regional chief executive officer of WGC's Indian operations, said that the gold consumption is likely to hit a six-year-high with 800-850 tonnes this year as against 797.3 tonnes in 2021, reported Reuters.
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Sep 3, 2024 · Gold reserves by country data compiled from IMF IFS statistics. Explore reported central bank purchases, sales and total world gold reserves.
- Correlations
Gold provides diversification in a portfolio and is often...
- India’s gold import duties hiked
On 1 July, India’s gold import duty increased by 4.25%, with...
- Correlations
Apr 19, 2022 · The domestic gold price ended 1.7% higher in March at Rs51,317/10g 1. Retail demand remained sluggish as buyers postponed purchases in anticipation of a correction in the gold price. This widened the local market discount to US$60/oz during the month, compared to a discount of US$14-15/oz at the end of February.
Nov 10, 2022 · Indian consumers habitually purchase gold jewelry ahead of the festive season every October. But that aside, the Reserve Bank of India (RBI) bought 13 tons of gold in July and 4 tons in September, pushing its reserves to 785 tons, according to the WGC.
Feb 21, 2024 · In 2022, India ranked as the fifth-largest gold importing country worldwide based on value, having amounted to nearly 37 billion U.S. dollars, and accounting for over eight percent of...
India’s gold consumption is expected to rise further in 2022 which could widen the trade deficit and put pressure on the ailing rupee, the World Gold Council said on Friday.
Jul 6, 2022 · On 1 July, India’s gold import duty increased by 4.25%, with consumers now paying 18.45% tax for refined gold compared to 14.07% previously 1; We believe the higher import duty may have a slightly greater impact on short-term gold demand; But we also believe that the gold duty increase may be a temporary measure.
Apr 5, 2023 · According to the data, in Q1 2022 the total gold reserves of India were 760.42 tonnes, 767.89 tonnes in Q2 2022, 785.35 tonnes in Q3 2022, and 787.40 tonnes in Q4 2022.
