In Delhi, gold rates of 99.9% and 99.5% purity rose by Rs 50 each to Rs 31,660 and Rs 31,510 per 10 gram, respectively. Sovereign, however, remained flat at Rs 24,500 per piece of eight gram.
World Gold Council
Gold Price Seen ‘Moving North’ as World Fails to Replace Output
Gold Silver Reports (GSR) – Gold Price Seen ‘Moving North’ as World Fails to Replace Output — “Gold has a much higher probability of moving north as opposed to south,” Letwin said in an interview at a mining conference in Hong Kong on Thursday. “I’ve been around a long time; when you’re in an industry that’s not replacing what it produces, eventually, the price has to move up.”
GST Could Dampen India Gold Demand in Short Term – WGC
Gold Silver Reports — A hike in taxes on gold sales in India could pressure short-term demand from the world’s No.2 consumer of the metal, the World Gold Council (WGC) said in a report.
India’s Working With World Gold Council to Create a Spot Exchange
Gold Silver Reports — The World Gold Council is working with the Indian government on plans to create a local physical spot-gold exchange that may start up as soon as next year.
Jewellery Demand to Remain Robust and Grow at 3%-5% in 2016
Gold Silver Reports – The Report for Indian jewellery retailers in FY17 is likely to be stable on robust domestic demand but exporters may face headwinds, according to rating firm Ind-Ra.
Indians Buy Gold Worth $267 Billion
Gold Silver Reports → At a time when foreigners were investing in Indian equities, Indians were boosting their Gold purchases. The gold greedy Indians bought yellow metal worth $267 billion (Rs. 18 lakh crore at 68 rupees per US dollar) over the last 10 years.
World Gold Council Indicate Improving Fundamentals For Gold
Gold Silver Reports → The fundamental picture according to the data released by the World Gold Council continues to indicate improving fundamentals for Gold.
Global Demand Kick off in 2015
Gold Silver Reports – Worldwide demand for gold dipped 0.3% on the year to 4,212 tons in 2015, with overall demand for use in jewelry sinking 3% to 2,415 tons, the World Gold Council reported Thursday.