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Gold is migrating from the West to the East. As Bloomberg described it, many western investors – particularly at the institutional level – are dumping bullion. Meanwhile, Asian buyers are taking advantage of lower prices to snap up less expensive jewelry, coins, and bars.
Gold demand in India was healthy in September and the outlook is strong moving forward. Healthy retail demand in September drove the local price briefly into a premium of $2 to $3 per ounce early in the month. It was the first time gold had been in premium since May.
Indian silver imports are on pace to triple this year as investors bet the white metal is primed to rebound and outperform gold in the near future. Silver prices have dropped to 2-year lows, and the silver-gold ratio has risen to nearly 90-1, signaling that the white metal is significantly undervalued compared to gold.
Gold demand in India was strong in May with retail sales rebounding and imports up both month-on-month and year-on-year.
Gold demand in India strengthened in October despite higher prices. This continues a rebound in the world’s second-largest gold market after it was pummeled by government policies during the coronavirus pandemic.
The recovery in the Indian gold market remained on track in September with strong imports and investment demand. India imported 89.5 tons of gold in September, according to the latest data from the World Gold Council. While that was down 21% from the five-month high we saw in August, it was still far above the […]
India’s gold imports hit a 5-month high of 121 tons in August, a further sign of recovery in the world’s second-largest gold market.
After being put on pause due to a coronavirus surge, the recovery of India’s gold market appears to be back on track.
Chinese gold demand rebounded sharply in the first half of 2021 after plummeting in 2020, according to data released by the China Gold Association (CGA).
India ranks as the second-largest gold-consuming country in the world, second only behind China, but demand has languished for the last couple of years. The pandemic crushed demand, particularly for gold jewelry, but record-high gold prices in rupee terms and government policy put a drag on the gold market even before COVID-19. There were signs of […]
