GJ Town India

Gold demand remained of 797.3 tonnes in 2021   Recently the World Gold Council India pronounced the Gold Demand Trend India for the January to December 2021 & Q4, 2021. The report said, 1: The gold demand for the full-year 2021 is 797.3 tonnes compared to 446.4 tonnes in 2020. 2: Total jewellery demand in India for 2021 was up by 93% at 610.9 tonnes as compared to 315.9 tonnes in 2020.   3: The value of jewellery demand in 2021 was Rs. 261,140 crores, up by 96% from 2020 (Rs 133,260 crores). 4: Total investment demand for 2021 was up by 43% at 186.5 tonnes in comparison to 130.4 tonnes in 2020. 5: In value terms, gold investment demand was Rs. 79,720 crores up by 45% from 2020 (Rs. 55,020 crores).   6: Total gold recycled in India in 2021 was 75.2 tonnes as compared to 95.5 tonnes in 2020, drop of 21% & 7: Total gold imported in India in 2021 was 924.6 tonnes as compared to 349.5 tonnes in 2020, increase of 165%. In his address, Somasundaram PR, Regional CEO...

ABNAmro says Gold outlook is still positive but…   Recently ABNAmro Bank N V focused on gold price 2021. Gold prices started the year on a positive note until covid-19-related market panic and a global shortage of US dollars in March spoiled the party. Gold prices dropped substantially.   Afterwards they recovered. Between March and August gold prices rallied strongly, by 36%. They cleared the 2011 high and rallied to a high of USD 2,075 on 7 August 2020. The stars were aligned for higher gold prices. For a start, the Fed took measures to fight the dollar shortage and embarked on unlimited QE. Other central banks followed suit.  Moreover, governments announced enormous fiscal spending plans to support the economy. This all supported investor sentiment and investors sold the dollar as safe haven demand dissipated. Third, investors also realised that most currencies are unattractive given rock-bottom interest rates and this increased the appeal of gold. Fourth, investor...