Commodity Trade Mantra

Posts Tagged ‘Gold Ornaments’

India’s Hunger for Gold is Legendary - But who are these Gold Buyers?

India’s hunger for gold is not surprising – people have been complaining about the “drain of gold” into India for ages. In Q1, 2017, India’s demand for gold jewellery was 92.3 tonnes, v/s 22.9 tonnes from the US & demand for gold bars and coins was 31.2 tonnes in Q1 2017 v/s 16.2 tonnes from the US. But where in India does the gold go to? And who are the people who buy all this gold jewellery?

India Issues Its First Sovereign Gold Coin… to Curb Gold Imports

It’s estimated that less than 10% of all Indian gold demand is in bars & coins. That might change this month as the India Government Mint will issue its first-ever sovereign gold coin, just in time for the fall festival season, which kicks off Nov 11. The gold coin will reportedly feature the Ashoka Chakra, the traditional 24-spoked symbol that appears on India’s national flag.

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