Gold demand surges 21% in Q1 2016: WGC
The Dollar Business Bureau Global gold demand has increased 21 percent to 1,290 tonnes in the first quarter of 2016, up from 1,070 tonnes during the same period last year, a World Gold Council (WGC) report said. “This rise in demand was driven by vast inflows into ETFs (exchange-traded funds), fuelled by the concerns of investors with regard to economic instability and an uncertain financial landscape,” the report said. The global demand for jewellery was earlier down by 19 percent due to higher prices and subdued industrial action in India. A softening of the Chinese economy further meant that many consumers have delayed the purchases. “Two main themes appeared in the first quarter of this year. Driven by the ambiguity raised by negative rates ...
Gold, silver slip on subdued demand, global cues
Source: PTI Snapping its winning run, gold plunged by Rs.350 to Rs.28,360 per 10 grams at the bullion market on Wednesday on reduced offtake from stockists and investors amid subdued local buying and weak global cues. Elsewhere, silver also dropped following hectic speculative selling and lower industrial demand. Standard gold (99.5 purity) plunged by Rs.350 to finish at Rs.28,360 per 10 grams from Tuesday's closing level of Rs.28,710. Pure gold (99.9 purity) also fell to end at Rs.28,510 per 10 grams as compared to Rs.28,860 earlier. Silver (.999 fineness) also dipped by Rs.535 per kg to finish at Rs.37,900 from Rs.38,435 yesterday. Globally, spot gold fell more than 1% to its lowest in a week, as the dollar strengthened following hawkish ...
