New Delhi: It is expected that gold demand in India will return to 800 tonnes this year, said David Tait, CEO of the World Gold Council (WGC). Inflation is expected to decrease this year. This will strengthen the consumer market. He said that this will pave way for increase in gold import. Last year the demand was 770 tonnes.
Record inflation and the economic crisis created by the Russia-Ukraine war led to a slump in demand last year. Central banks globally, especially the Reserve Bank of India, are expected to increase their gold reserves this year. The amount of gold purchased by central banks in 2022 was the highest since 1967.
The price is for this month
in depth
Gold prices in Kerala hit the lowest level of this month yesterday. Pawan price fell to Rs 41,200 from Rs 41,360 and gram price fell to Rs 5,150 from Rs 5,170. On the 2nd of this month, the pavan price was Rs 42,880 and the gram price was Rs 5,360.
$1,811
Gold prices in Kerala may decrease in the coming days as international gold prices are also falling. The price was $1,811 an ounce, up from $1,950 a month ago. A week ago, the price was $1,842.
