Gem and jewellery export dipped 10 per cent last month to $1.97 billion against $2.19 billion on back of geopolitical tension and global economic slowdown. In rupee terms, it plunged to ₹16,719 crore (₹18,270 crore), as per the Gems and Jewellery Export Promotion Council data. With the looming economic uncertainty, buyers preferred to bet on…
India’s gold imports in December 2024 plummeted by half to $4.7 billion, compared month-on-month to November’s sharply lowered import figure of $9.8 billion (after last week’s data revision), amidst the government’s assurance of better coordination between departments to ensure “robust data”. Meanwhile, India’s overall goods exports in December 2024 contracted (year-on-year) for the second straight month,…
Gold prices slipped ₹80 to ₹80,580 per 10 grams, bringing an end to its five-day winning streak in the national capital on Tuesday amid a weak global trend, according to the All India Sarafa Association. On Monday, the precious metal had closed at ₹80,660 per 10 grams. Silver also fell sharply by ₹1,300 to ₹91,700…
Gold prices rallied for a fifth straight session, rising ₹110 to ₹80,660 per 10 grams in the national capital on Monday, according to the All India Sarafa Association. The precious metal had settled at ₹80,550 per 10 grams in the previous session on Friday. In the past five trading sessions, gold prices appreciated ₹1,660, or…
Inflows into global gold exchange-traded funds (ETF) hit a six-year high, increasing by $778 million, in December 2024 (a gain of four tonnes) following strong buying in Asia. The purchases offset the outflows in North America. However, global gold ETF and OTC trading both fell 29 per cent and 13.5 per cent, respectively. On the…
The Indian government acknowledged it miscalculated import figures for precious metals for months, an error that pushed the trade deficit to a record in November and caused the rupee to plunge to an all-time low. The Ministry of Commerce and Industry said in a statement on Thursday it revised import figures from April to November…
The stock market volatilities have boost the investments in the gold Exchange Traded Funds (ETFs) in India, as the country witnessed its eighth consecutive month of inflows into ETFs in December 2024, the world Gold Council (WGC) stated in its commentary. The trends for gold ETFs reflect rising investor interest in the metal as equity…
De Beers Group, a leading diamond company, and the Gem and Jewellery Export Promotion Council have entered into a strategic collaboration to strengthen natural diamond reach. The collaboration, titled INDRA (Indian Natural Diamond Retailer Alliance), will leverage Artificial Intelligence to create customised retailer campaigns. It will support retailers with the tools to make sure that…
The fall in gold prices in November after Donald Trump won the US presidential elections offered an opportunity to some of the central banks to accumulate the precious metal. The buying, however, was limited to banks that were active in the months leading to November, according to Krishan Gopaul, Senior Analyst, EMEA, World Gold Council…
Gold ($2,639/ounce) and silver ($29.6/ounce) saw an uptick in price and posted gains of 0.7 and 0.8 per cent respectively last week. In the domestic market, gold futures (₹77,317/10 gm) was up 1 per cent and silver futures (₹89,221/kg) gained 0.4 per cent. MCX-Gold (₹77,317) Gold futures (February) appreciated and closed above both 20 and…
