Kavita Chacko, Research Head, India-World Gold Council [WGC] said in her, India’s gold market update: Mixed demand! The Update said, gold pauses in May, shines again in June!
Gold prices in May saw a pause in the uptrend after four consecutive months of gains, ending the month nearly flat just below US$3,300/oz. Trading was largely range bound, with gains capped by global gold ETF outflows and the strong returns of April.
At the same time, tariff-related policy risk, a weaker US dollar, and rising inflation expectations supported prices. Gold regained momentum in June, rising 5% month-to-date to US$3,435/oz,3 driven by the flare-up in geo-political tensions following the Israel-Iran attacks and a rebound in ETF demand. Year-to-date, gold remains a standout performer, up 32% in USD terms.
Looking ahead, the Update said, the June–July period typically marks the off-season for gold in India, particularly for jewellery. A recovery in demand is anticipated with the onset of the festive and auspicious buying season from mid-August. Investment demand for physical gold and gold-linked financial products is expected to remain resilient, supported by sustained investor interest.
Key takeaways from the Update are, gold rallies again after losing steam in May, up over 30% y-t-d. Jewellery sales slow but physical investment stays healthy and gold-linked lending strengthens Gold ETFs snap two-month outflow streak with modest inflows in May. The RBI holds back on gold buying but gold’s share in forex reserves grows to 12%. Gold imports moderates in May, suggesting demand softness!
Offical Facebook account of heerazhaveraat.com, homepage for Trade News, Articles and Promotion of D
Glimpses of Bharat Diamond Bourse Marks 41 Years of Excellence & 15 Years of Operations of BDB Complex with the Release of customized My Stamp by Department of Posts, Government of India.
Below is the full article
https://lnkd.in/dxZJxcbD
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
