India's gold demand is expected to rebound in the

2022-08-17
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India's gold demand is expected to rebound in the second quarter

under the situation of continuous concern about inflation, investors protect the continuous demand for wealth by investing in gold. Indian gold demand is expected to rebound in the second quarter

according to the World Gold Council, global gold demand fell by 5% year-on-year in the first quarter of this year. To a large extent, it is expected to remove the cover of the working cylinder, because India has set up gold import taxes and the international gold price continues to be high. Data showed that the international average gold price in the quarter was $1690.57 per ounce, 22% higher than the same period in 2011

it should be emphasized that China's gold demand increased by 10% year-on-year to 255.2 tons in the first quarter of this year, of which the gold investment demand increased strongly by 13% year-on-year to a quarterly record of 98.6 tons. This means that investors protect the continuous demand for wealth by investing in gold under the situation of continuous concern about inflation. In addition, the demand for gold jewellery in the first quarter of 2012 also increased significantly to 156.6 tons, accounting for 30% of the global demand for gold jewellery, which also made China the largest gold jewellery market for three consecutive quarters

in contrast, the gold demand of India, the world's largest economy in gold demand, was affected by a number of factors in the first quarter of this year, including the imposition of a new tax on gold jewelry, the two increases in gold import tariffs, and the weakness of the Indian rupee. However, in view of the Indian government's cancellation of the new gold jewellery tax in May and the positive response of the market, Indian gold demand is expected to rebound in the second quarter

guobosi, managing director of the investment department of the World Gold Council (m here we are based on the four ball machine arcus Grubb), said that the economies of China and India have been growing continuously. Although China's economic growth is expected to slow down, it will still exceed the growth rate of the West. As we previously predicted, China is likely to become the largest source of gold demand in 2012

diversification has become the general trend of the gold market

at the same time, the established net gold buying trend in the central industry of the global economies also provided a demand of up to 80.8 tons in the first quarter of 2012. In terms of data, the above trend was mainly driven by the central banks of emerging economies in the first quarter, in which the central banks of Russia and Kazakhstan increased their holdings. Chairman Guo read out the 2015 work plan of the special committee: buying Nanshan aluminum in the quarter will combine their own innovative development with the national 1035 development strategy, a considerable part of the total; The Central Bank of Mexico also recorded the largest single purchase of 16.8 tons; The main driver of this demand from emerging market central banks is to diversify their holdings

in this regard, guobosi pointed out that this growth trend also extended to other emerging market economies, and the continued purchase of gold by central banks as a tool for asset diversification and the protection of national wealth strengthened this trend. The current general situation of the gold market is diversification. Although the market has recently flocked to the US dollar and treasury bonds to avoid risks, it is believed that the fundamental reason for investing in gold is still very strong and convincing

in addition, the total demand for ETFs and similar products in the first quarter was 51.4 tons, worth $2.8 billion; This is in sharp contrast to the net outflow in the first quarter of 2011

in this context, the demand for gold investment (including gold bars, gold coins, ETFs and similar products) in the first quarter increased by 13% year-on-year to 389.3 tons. In US dollars, its value is equivalent to US $21.2 billion, a year-on-year increase of 38%. Although the demand for physical gold bars and coins decreased, the demand in this field reached 389.3 tons due to the increase in the demand for ETF and medals/imitation coins, 45.8 tons higher than the same period last year

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