According to the World Gold Council, domestic gold prices have increased by 10% year-to-date, fueled by an 18% rise in global gold prices. This surge is driven by strong central bank purchases, escalating geopolitical risks, and growing anticipation of a monetary policy shift by the US Federal Reserve.
The reduction in import duty has ignited a resurgence in gold demand across India. Reports from the recently concluded India
The recent reduction in import duty has sparked a renewed surge in gold demand across India. Reports from the India International Jewellery Show reveal a significant increase in order bookings from retailers, particularly as they prepare for the upcoming festive and wedding seasons. Manufacturers have observed that, in some cases, orders have reached levels not seen in several years, highlighting the strong demand for gold.