Gold Silver Reports – Gold Jewelry Demand Seen at 20-Year Low in United Arab Emirates – Gold jewelry demand in the United Arab Emirates sank to a 20-year low last year, thefourth consecutive annual decline, the World Gold Council said.
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India’s Gold Demand up 9% to 727 Tonnes in 2017, says WGC Report
Gold Silver Reports – India’s gold demand grew by 9.1% to 727 tonnes in 2017 due to low prices coinciding with Dhanteras, positive economic backdrop and improved consumer sentiment especially in rural areas, according to a World Gold Council (WGC) report.
Copper Producers Switch to Provisional Pricing; Aim to Avoid Losses
Gold Silver Reports – Copper Producers Switch to Provisional Pricing; Aim to Avoid Losses — In a major shift in strategy, downstream copper producers (manufacturers of wires, cables, pipes and tubes, etc.) have started fixing their product prices on provisional basis, a practice similar to primary metal producers.
Gold Prices Edge up on Global Cues, Jewellers’ Buying
Gold Silver Reports – Gold Prices Edge up on Global Cues, Jewellers’ Buying — Gold prices edged higher by Rs20 to Rs31,270 per 10 grams at the bullion market on Monday, backed by a firm trend overseas and fresh buying by local jewellers. However, silver prices dropped further by Rs300 to Rs39,500 per kg due to reduced offtake by industrial units and coin makers.
Crude Slides as Stock Markets Crumble, Drilling Activity Rises
Gold Silver Reports (GSR) – Crude Slides as Stock Markets Crumble, Drilling Activity Rises — Oil’s decline accelerated as the deepening slump in equity and debt markets undermined the outlook for energy demand against the backdrop of swelling U.S. crude production.
The Government Gets Ready to Accept Gold as an Asset Class
Gold Silver Reports (GSR) – The Government Gets Ready to Accept Gold as an Asset Class — In the Union Budget 2018, finance minister Arun Jailtley announced the government’s intention to formulate a comprehensive gold policy, to develop gold as an asset class. In his speech, the minister said that the government will establish a system of consumer-friendly and trade-efficient and regulated gold exchanges in the country.
Gold Price Steady on Weak Demand, Silver Falls by Rs500
Gold Silver Reports — Gold Price Steady on Weak Demand, Silver Falls by Rs500 – Silver prices slumped below the Rs40,000 per kg level by falling Rs500 to Rs39,800 per kg at the bullion market on Saturday, tracking a weak trend overseas amid reduced industrial offtake.