Gold rate : Gold rate hits record high, 803 tons of gold purchased, demand from China

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 Gold rate : Gold rate hits record high, 803 tons of gold purchased, demand from China

Gold demand in India :  Gold prices are setting new records every day. Yesterday, on Wednesday, the price of gold increased to Rs 84,657 per gram of 10 grams and closed. In some cities, the price of gold has gone up to Rs 86,000.





Gold demand in India :  Gold prices are setting new records every day. Yesterday, Wednesday, the price of gold increased and closed at Rs 84,657 per 10 grams and the price of gold in cities has gone up to Rs 86,000. Despite the increase in gold prices, there has been no decrease in demand. A recent report by world Gold Council (WGC) shows that India's gold imports increased by 5% to 802.8 tons in 2024.

Sachin Jain, CEO of India Vision, World Gold Council, said that investment in gold has increased after 2013. Small gold coins are being purchased on a large scale through commerce platforms in some cities. The total demand for gold is likely to be 700 to 800 million in 2025.

If prices remain around current levels, wedding-related purchases could boost demand for jewelry. Investing in digital gold and gold coins and Gold bars are also increased recently.

The WCO report has said that after 2012, their gold demand expectations have increased. From April to June 2024, the demand for jewelry in China is lower than that of India. Today's economic slowdown in China has affected consumers gold demand there.

Although China's demand has been higher than India's in the last two to three months, the total consumer demand for jewelry and investment is ahead of china. In the month of December 2024, China's total consumer demand was 189.9 tons, while India's demand was 265.8 tons.

Gold price hits new record in 2024. As per “All India Bullion Association” National Capital Gold price has reached Rs 85,800 per 10 grams. Demand for gold jewelry in 2024 has decreased by 2% to 563 tons.  The same demand in 2023 was 575.8 tons.

 

Location: India

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