
Central Banks tank up gold reserves
In the first six months of 2023, Central Banks bought 387 tonne of gold -- the highest purchase in the first half of a year since 2000
In the first six months of 2023, Central Banks bought 387 tonne of gold -- the highest purchase in the first half of a year since 2000
Will the gold-backed international currency end the dominance of the U.S. dollar?
Two consecutive quarters of low gold purchases by the Indian central bank hints it is cooling-off on gold of late
Experts have cited high import duty for the dip in imports of yellow metal; WGC sees a healthy upside for investment in 2023
Global factors, primarily US interest rate hikes, pushing up dollar prices, coupled with rupee depreciation, kept gold prices above ₹60,000/10g, nearly a 19% jump over last year
The growth is mainly due to increase in sales volumes due to pent-up demand and recovery in discretionary spending post the pandemic, says a study.
True to its nature, gold takes a plunge with rise in global interest rates
Net AUM under Gold ETF stood at ₹19,280 crore in March and ₹20,430 crore in April 2022, depicting an increase in investments by the investors. The global demand has been sturdy too.
After a steady fall since June 16 following the U.S. Fed meet, gold prices have begun another trek. This time, thanks to the Basel-lll rules that reclassified gold to a tier 1 zero-risk weight.
Gold exchange traded funds added a record 877 tonnes during 2020, nearly 231 tonnes more than the 2009 record of 646 tonnes. Experts argue much of gold's growth drivers will continue in 2021 too.