World Gold Council - The Purbottar

05 May

Gold remains resilient amid heightened global uncertainty

Business Correspondent0 CommentsBusiness, IndiaGOLD, World Gold Council

The global gold market saw a solid start to 2022 with first-quarter demand (excluding OTC) up 34% year-on-year, thanks to strong ETF flows, reflecting gold’s status as a safe-haven investment during times of geopolitical and economic uncertainty.Geopolitical crises weighed heavily on the global economy and reinvigorated investor interest, pushing the gold price briefly to US$2,070/oz in March. The World Gold Council’s latest Gold Demand Trends Report reveals gold ETFs had their strongest quarterly inflows of 269t since Q3 2020. Gold bar and coin demand were 11% above its five-year average at 282t. However, renewed lockdowns in China and high prices…

02 Feb

Gold demand hits highest level in more than two years

editor0 CommentsBusiness, IndiaGold demand, World Gold Council

The World Gold Council’s latest Gold Demand Trends Report revealed that annual demand (excluding OTC markets) has recovered many of the COVID-induced losses from 2020 to reach 4,021t for the full year in 2021. The reports shows the demand for gold reached 1,147tin Q4 2021, its highest quarterly level since Q2 2019 and an increase of almost 50% year-on-year, according to the World Gold Council. Gold bar and coin demand rose 31% to an 8-year high of 1,180t as retail investors sought a safe haven against the backdrop of rising inflation and ongoing economic uncertainty caused by the corona virus…

11 Dec

World Gold Council Report

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The World Gold Council has launched a titled ‘Bullion Trade in India’ as part of a series of in-depth analysis on the Indian gold market. The report states that imports made up 86% of India’s gold supply between 2016-2020, and inbound shipments continue to grow despite high import duty.The report highlights how, with very little mining and modest levels of recycling, India is heavily reliant on bullion imports to meet its domestic demand. Indian official imports have continued to grow despite high import duty, with official imports averaging 760t since the first duty hike in 2012.In 2020, India imported 377t…

03 Dec

World Gold Council Members contributed $38bn to local economies in 2020

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World Gold Council has released a report where it highlights the role of its members, many of the world’s most forward-thinking gold mining companies, in contributing to socio-economic development in the countries and communities where they operate. Collectively, WGC member companies contributed$37.9bn to the GDP of the countries where they operate in the form of taxes, salaries and payments to suppliers. This represented 63% of the total revenue they received from gold sales and equates to almost US$1,100 in value added locally for every ounce of gold produced.

22 Oct

World Gold Council Report on Demand of Gold in India

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The World Gold Council today launched a report titled ‘The drivers of Indian gold demand’, the first in a series of in-depth analysis on the Indian gold market. The econometric analysis shows that rising income is the most powerful driver of Indian gold demand in the long term, which bodes well for Indian gold demand as the economy is complemented by a strong demographic dividend. The report finds for each 1% increase in gross national income per capita, gold demand rises by 0.9%, For each 1% increase in the rupee- based price of gold, demand falls 0.4% and there are…