In the April-June quarter, India’s demand for gold dropped by up to 15% compared to the previous year, largely due to soaring prices deterring consumers. With fewer auspicious wedding dates in July, jewellery sales haven’t seen a significant uptick, although some regions experienced sporadic increases during the Rath Yatra festival. Gold prices have risen sharply to around ₹73,000 per 10 gm, up 15% from the beginning of 2024. Jewellers are cautiously optimistic, expecting a potential revival in demand during the upcoming festive season and noting a shift towards investment in gold amid subdued jewellery purchases.
RBI doubles bond purchases to Rs 40,000 crore
Market participants are expecting additional liquidity support via variable rate repo (VRR) auctions and open market operations (OMO) purchases, both planned and unplanned, along with
February 11, 2025