Declining gold demand in India, the yellow metal could reach its lowest level in 25 years

-

New Delhi, Thursday 29 October 2020

This year has been the worst in terms of gold demand in India. According to the World Gold Council, if this trend continues, it could be the first time since 1995 that there has been such a sharp decline in gold demand, according to the World Gold Council. 252 tonnes of gold was consumed as against 496 tonnes in the same period last year, adding to the demand for 194 tonnes of gold in the October-December 2019 quarter, it would be 696 tonnes less than last year.

According to WCG figures, India had the worst annual position of 462 tonnes of gold in calendar year 1995, 511 tonnes in 1996, 547 tonnes in 2002 and 642 tonnes in 2009. However, Gold Council Director Somasundaram PR said the second quarter of the year saw many Opening up, but we don’t know how demand will increase in the wedding season with job losses and pay cuts.

He further said that if gold falls below Rs 50,000 per 10 grams, the gold situation could improve. The WCG report states that demand for gold in India in the third quarter of calendar year 2020 was 86.6 tonnes, while in 2019 it fell by 30 per cent to 123.9 tonnes. Gold demand value during the period stood at Rs 39,510 crore, down 4 per cent from Rs 41,300 crore in the 2019 quarter.

WCG's Gold Demand Trends report released on Thursday showed that global demand for gold at 2,972.1 tonnes per annum (YTD) fell 10 per cent in the same period in 2019, with demand falling by 392.3 tonnes in the third quarter of calendar year 2020 The lowest demand is believed to be due to the Covid-19 epidemic.

Comments

Post a Comment

Popular posts from this blog

A new elan in the world of smuggling - Go Digital!

-
Image
- Smile Index - Vanity - We have to change with the times, our grandfathers brought clocks and tape recorders, fathers are in gold, the new generation will do with laptops. There was a message in the WhatsApp group of smugglers: Everyone is going to zoom at exactly three o'clock in the night. A smuggler hit back. I am currently in Gujarat, it is not possible to zoom properly here. ' Another smuggler joked.' Lya, we and the law?' Pella replied, 'Brother, everything is available in government law, but now there is no supply in excess of hearing.' The third wrote, 'Consignments used to arrive in ships at three-three-four-four in the night have all become the era of 70s movies. Now it is the world of landing on a clear day with a gold capsule on the belt. So why the meeting at 3 o'clock in the night?' The admin's message came, 'Now we have to go back to the days of ships. Bringing in a large flight will not work. More details at the meeti
Read more

A new elan in the world of smuggling - Go Digital!

-
Image
- Smile Index - Vanity - We have to change with the times, our grandfathers brought clocks and tape recorders, fathers are in gold, the new generation will do with laptops. There was a message in the WhatsApp group of smugglers: Everyone is going to zoom at exactly three o'clock in the night. A smuggler hit back. I am currently in Gujarat, it is not possible to zoom properly here. ' Another smuggler joked.' Lya, we and the law?' Pella replied, 'Brother, everything is available in government law, but now there is no supply in excess of hearing.' The third wrote, 'Consignments used to arrive in ships at three-three-four-four in the night have all become the era of 70s movies. Now it is the world of landing on a clear day with a gold capsule on the belt. So why the meeting at 3 o'clock in the night?' The admin's message came, 'Now we have to go back to the days of ships. Bringing in a large flight will not work. More details at the meeti
Read more

Detailed information about the descalant sulfamic acid

-
Image
- Industrial guidance-long description Boiler scale: When hard water is heated or evaporated inside the boiler walls and tubes, the calcium carbonate, calcium sulfate or other minerals in the hard water are deposited on the boiler walls or tubes after the water is evaporated. If this boiler scale is not removed from the boiler, the life of the boiler ends. That is why soft water is used in most boilers. (treated to remove calcium and magnesium ions before use). Hard water: Hard rock type soils will rot over a long period of time if the water does not contain low percentages of calcium, magnesium carbonate, bicarbonate sulfate or chloride. Degree of Hardness: Grains per gallon or parts per million (ppm) of calcium to measure water hardness. (1 grain of cac03 per gallon is equal to - 17-1 ppm) Up to 5 grains is considered soft water. More than 30, grains is very hard water. The impurity shown above can produce boiler scale. Also can make metal coossive. The temporary hardness can b
Read more