GJ Town India

The drivers of Indian gold demand  report released the first in a series!                                For every 1% increase in Inflation, gold demand In India increases by 2.6%,                                        highlights World Gold Council (WGC) Report   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. Using an econometric model, it draws on three decades of annual data, dating from 1990 to 2020, to gauge some of the principal influences driving gold demand in India.   The report assesses gold demand from a range of perspectives, both quantitative and qualitative. It considers the findings of a comprehensive analysis of the long- and short-run determinants of Indian gold demand and examines demographic, socio-economic, and related developments that are likely to shape gold demand in the country, now and in the future.   The econometric analysis shows that r

Investment demand for gold bars and coins by 51%   WGC India announces India Gold Demand Statistics for Q3 2020 (July - September). Speaking about India Gold Demand Statistics for Q3 2020, Somasundaram PR, Managing Director, India, World Gold Council said, India’s Q3 2020 gold demand fell by 30% to 86.6 tonnes on the back of Covid related disruptions, bleak consumer sentiment and high prices accompanied by volatility.   This is, however, higher than Q2 which at 64 tonnes was a 70% drop and the second lowest in our quarterly series. This has been partially due to easing of lock down and some low prices in August that provided a small window of buying opportunities for the discerning.   Q3 tends to be relatively low generally due to seasonal factors like monsoons and inauspicious periods like Pitru-Paksh and Adhik Maas. Jewellery demand fell by 48% to 52.8 tonnes as jewellery purchases did not have any support of festivals or weddings. On the other hand, gold’s safe haven attribute