India Gold Market Update: Investment Demand Shines

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World Gold Council
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(8min)

Summary

  • After months of gains and record highs, gold's upward momentum has slowed since early November.
  • Despite this recent weakness, gold remains one of the top-performing assets of the year, with YTD returns of 22% in INR and 29% in USD terms.
  • Since the peak Diwali buying season, jewellery demand has been lacklustre; gold prices fluctuations have kept consumers on the sidelines despite the onset of the wedding season.

Dhanteras festival in India

D. Talukdar/iStock Editorial via Getty Images

Gold's ascent slows amid volatility

After months of gains and record highs, gold's upward momentum has slowed since early November. Prices have dropped 4% from their October peak to US$2,670/oz2. Rising US Treasury

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The World Gold Council is the market development organization for the gold industry. Our purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market. We are a unique organization that delivers tangible benefits to the gold industry. We are an active force within the market, working with a large and diverse set of partners to create access, drive innovation and stimulate demand, while providing a collective voice for our members. We provide insights into the international gold markets, helping people to understand the investment qualities of gold and its role in meeting the social and environmental needs of society. For more information visit www.gold.org.

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