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POSTED ON September 4, 2018  - POSTED IN Key Gold Headlines

The Reserve Bank of India (RBI) bought gold for the first time in nearly a decade during its last fiscal year.

The Indian central bank added 8.46 tons of gold during the fiscal year ending June 30, according to its latest annual report. The additional yellow metal brings India’s total gold reserves to 566.23 tons.

The last time the RBI bought gold was in November 2009. The Economic Times of India called the central bank’s decision to add to its gold reserves “significant.”

POSTED ON August 29, 2018  - POSTED IN Key Gold Headlines

Indians are buying gold.

Imports of the yellow metal into India jumped for the first time in seven months in July and the trend appears to be carrying forward into August, according to a report in the Times of India. Gold sales have surged 15% by volume over last year as Indians took advantage of soft prices and kicked off the wedding and festival season early.

According to jeweler associations in India, demand could finish up as much as 20% in August compared with 2017.

POSTED ON August 14, 2018  - POSTED IN Key Gold Headlines

Gold imports into India jumped for the first time in seven months in July as jewelers replenished stocks.

Indian gold purchases surged 44.2% year-on-year to 75 tons.

India ranks as the number two consumer of gold in the world. According to a Reuters report, increased demand, “could support global prices,” which are struggling to hold ground in a strong dollar environment.

POSTED ON July 26, 2018  - POSTED IN Key Gold Headlines

Analysts expect demand for gold in India to surge in the second half of the year thanks to a good outlook for farmers.

A good start to the rainy season along with higher minimum support (MSP) for summer crops should boost the gold trade, according to a report in the Economic Times of India. Analysts expect a 25% increase in gold demand compared to the second half of last year.

POSTED ON June 19, 2018  - POSTED IN Key Gold Headlines

Analysts say demand for gold in India will likely rise in the second half of the year thanks to a good monsoon season. Increasing demand for gold in the world’s second-largest market could help boost overall global demand for the yellow metal.

According to NDTV, monsoon rains hit Kerela at the end of May. This was a few days earlier than usual and bolstered an optimistic outlook for agricultural and economic output.

POSTED ON June 12, 2018  - POSTED IN Videos

World Gold Council chief market strategist John Reade recently talked to Commodity TV about the current state of the gold market and what he sees in the future.

Reade cast an optimistic tone, saying the supply and demand fundamentals point toward a healthy, growing gold market moving forward.

POSTED ON May 11, 2018  - POSTED IN Fun on Friday

I always enjoyed watching the TV show, Dirty Jobs. Mainly because it made me feel better about sitting at a computer writing stuff all day. It can be monotonous, but it certainly beats inspecting sewers, or wrangling snakes, or chicken sexing.

But what if the payoff for your dirty job was gold? Would you consider it?

Some people in India do. They scavenge through, dust, grime and sewage on Mumbai’s streets to collect gold.

POSTED ON May 11, 2018  - POSTED IN Key Gold Headlines

Chinese and Indians love gold. It is not only considered an investment and a way to protect wealth. The yellow metal also weaves itself into the cultural fabric of both countries. Gold is often given as gifts at weddings, and during other holidays and festivals. This affinity for gold has led some to dub a major component of overall demand for the yellow metal in India and China the “love trade.”

According to an article published in Forbes, the love trade is looking pretty good for the rest of 2018. This bodes well for overall gold demand, as China and India rank as the No. 1 and No. 2 gold markets in the world. 

POSTED ON April 2, 2018  - POSTED IN Key Gold Headlines

Indians are hoarding their gold despite an increase in the price during the first quarter of 2018. Analysts say they are holding onto their gold in anticipation of bigger price increases.

Gold was up around 1.5% in dollar terms in the first quarter of this year. According to the Economic Times of India, the yellow metal appreciated 4.41% in rupees.

Even with that healthy increase, old gold sales in India fell by 35-40% in Q1 2018 compared to the previous quarter. According to the paper, analysts and traders think Indians are holding back selling in anticipation of further price increases, especially if the US and China get into a full-blown trade war.

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