Here are some recent updates on gold:
- Global demandAccording to the World Gold Council’s Q2 2024 Gold Demand Trends report, global demand for gold increased 4% year-on-year to 1,258 tons, which is the highest demand in the second quarter in the World Gold Council’s data series. Central banks also expect demand to increase in the next year, despite high prices.
- India’s gold marketIn India, investment demand and central bank purchases have helped to soften the decline in jewelry purchases. In June, the Reserve Bank of India (RBI) increased its gold purchases, which was the highest monthly purchase in almost two years.
- Gold pricesAs of August 12, 2024, the price of gold was Rs 70,700, and the price of silver was Rs 87,300.
