Gold exchange-traded funds (ETFs) in India reportedly attracted Rs 446 crore (or about $59.43 million) last month, which far exceeded the inflow of Rs 24 crore (or $3.19 million) recorded in August.
India’s gold import saw a 252 per cent rise to $24 billion in April-September period compared to the corresponding period last year with the gradual unlocking of the economy and festive demand picking up.
Exports Recorded at Rs. 24239.81 Cr in August 2021 as compared to Rs. 20793.80 Cr in August 2019; Surpasses Pre-Pandemic Levels
Physical gold demand in top consumer China rose this week as buyers sought cover from the potential fallout of the Evergrande crisis coupled with factors including a seasonal pick-up in activity.
CRISIL report states that after two consecutive years of decline, the revenue of gold jewellery retailers are poised to grow 12-14 per cent year-on-year this fiscal, driven by stable gold prices and recovery in discretionary spending.