Latest news with #WorldGoldCouncil
Khaleej Times
6 hours ago
- Business
- Khaleej Times
Gold prices rise by Dh100 per gram in a year: Here is how much UAE residents gained
Gold prices in the UAE have surged by approximately Dh100 per gram over the past year, prompting many residents to call their gold jewellery purchases one of the best investment decisions they've made. Last summer, the 22K gold variant was trading between Dh279 and Dh290 per gram. As of Wednesday, it was priced at over Dh380 per gram. According to World Gold Council data, the price has been steadily rising since the third quarter of 2023. Prices have risen by nearly $800 per ounce year-on-year in the first quarter of 2025. Data showed that gold price averaged $1,928.5 per ounce in Q3 2023, rising to $1,971.5 in the fourth quarter of that year. In 2024, price averaged around $2,069.8 per ounce in the first quarter, rising to $2,338.2 in Q2, $2,474.3 in Q3, $2,663.4 in Q4 and $2,859.6 in the first quarter of 2025. 'When I bought gold in 2024, the 22K price was around Dh290 per gram,' said Rajitha Nair, a PR and corporate communications professional. 'I used to check rates regularly and felt it was a good time to invest. With prices now above Dh380, the same purchase would be significantly more expensive today. It really shows how much value gold has gained in just a year.' Rajitha considers her gold jewellery purchase both emotionally meaningful and financially smart. 'I'd say it's one of the most rewarding investments I've made. A Dh100-per-gram gain in a year is substantial — especially for something I love to wear as well.' She added, 'Jewellery is a tangible asset with emotional value. While coins and bars are great for pure investment, jewellery offers personal satisfaction and beauty.' Another long-time UAE resident, Pooja S., a sales and marketing executive, also purchased gold jewellery last year when 22K gold was priced at Dh277 per gram. 'With prices up by about Dh100 per gram now, I would have spent roughly Dh2,450 more for the same pieces today,' she said. Hold, don't sell Pooja also invests in gold bars and coins, viewing the metal as a safe and reliable store of value. Rajitha advised fellow residents to hold on to their gold rather than selling it at this stage. 'With prices climbing steadily, I think it's wise to wait. A little patience now might result in better returns later,' she said. She also emphasised the enduring significance of gold. 'Gold remains relevant regardless of the economic climate. It's not just about financial returns — it represents cultural heritage, security, and timeless beauty. Especially in our region, gold is both an investment and a tradition.' What do jewellers say? According to Nirmal Kumar, senior executive at Yogesh Jewellers, a Dh100-per-gram increase within a year is 'remarkable". 'For many clients, especially those who bought in early 2024, gold has proven to be both a profitable and sentimental investment — something beautiful that appreciates in value,' he said. 'Coins and bars are ideal for pure investment, but jewellery offers both value and experience. Whether for wealth protection, gifting, or legacy planning, gold — especially 18K and 21K jewellery — blends tradition, security, and return on investment.' Aditya Singh, head of international jewellery business at Titan Company (Tanishq), noted a transformation in both consumer behaviour and retail strategy over the past year. 'We've seen a shift toward lighter, modular, and versatile designs that are wearable on multiple occasions and more affordable. Younger consumers are driving this demand — they're looking for jewellery that reflects their personal identity through customisation, storytelling, and modernised traditional design,' he said. 'Today's customers want transparency on pricing, making charges, sourcing, and certifications. Retailers that lead with authenticity and meaningful value — not just discounts — are earning long-term trust.'
News18
3 days ago
- Business
- News18
Gold Price Prediction: China Sells 90 Tonnes Of Gold—Will Prices Drop In The Coming Days?
1/9 A new wave of speculation has hit the gold market, sparking curiosity about future price trends. Recent fluctuations and international developments have significantly impacted the market. China, a major player in gold purchases, experienced a slowdown in June 2025. However, the country achieved record gold investments in the first six months of the year. The World Gold Council recently highlighted this development, revealing that China's largest investments were in ETFs. In the first half of 2025, China invested Rs 64,000 crore (US$8.8 billion) in gold ETFs, marking a historic record for half-year investments. In contrast, wholesale demand for gold jewellery dropped by 10 percent in June due to soaring gold prices, discouraging consumers from making new purchases. In June, 90 tonnes of gold were sold, marking a significant withdrawal from the Shanghai Gold Exchange (SGE). This figure is notably below the 10-year average, with total withdrawals in the first half of the year reaching 678 tonnes, an 18% decline from the previous year. Gold prices surged by 23% in US dollars and 21% in Chinese yuan (RMB) during the first half, the fastest growth rate since 2016. China's central bank People's Bank of China purchased gold for the eighth consecutive month, adding 19 tonnes in the first half of the year. China's gold reserves now stand at 2,299 tonnes. Although gold futures trading slowed slightly in June, the average daily volume in the first half of the year was 534 tonnes, the highest on record. China imported 89 tonnes of gold in May 2025, a 21 percent decrease from April and a 31 percent drop from May last year. This decline is primarily due to reduced demand for jewellery. Gold in China has transitioned from a mere jewellery item to a strategic investment vehicle. As consumer interest in jewellery wanes, record investments are being made in alternatives such as ETFs, bars, and coins. Central bank purchases continue to bolster gold's status as a strong investment option. The surge in gold purchases by Chinese investors is boosting global demand, directly influencing gold prices in India. This could lead to higher gold prices domestically, potentially reducing gold sales during weddings and festivals and impacting jewellers and small traders. According to the World Gold Council, a rising US dollar and Treasury yields are expected to negatively impact gold prices. In the medium term, gold prices may decline due to central bank purchases and reduced retail investment demand.
Economic Times
3 days ago
- Business
- Economic Times
Gold jewellery demand dips after wedding season but investment buying stays strong: Report
AI generated image for representation purposes. Jewellery demand succumbed to seasonal weakness in June and early July, following the conclusion of the wedding season, but investment demand for the yellow metal remained strong, according to a report by the World Gold Council (WGC). Persistently high gold prices further suppressed demand, prompting consumers to defer non-essential purchases and opt for more affordable alternatives such as lightweight, lower-carat, or studded jewellery. The trend of exchanging old jewellery to manage costs continued to gain traction, as per market reports. Meanwhile, the shift toward investment-oriented buying persisted, with a growing preference for gold bars, coins, and plain gold chains (seen as quasi-investments), which are favoured for their lower fabrication per anecdotal reports, demand has been concentrated in lower-grammage coins, particularly those weighing less than 10g, the WGC said in the report. Leading listed gems and jewellery companies delivered a strong performance in the April–June quarter, reporting year-on-year revenue growth between 18% and 31%. This growth was largely price-led, even as volumes remained flat or moderated. A 32% year-on-year rise in gold prices during the quarter and key festivals and wedding demand during April–May boosted sales gold prices saw consumers shift toward lighter, lower-karat jewellery, while retailers effectively leveraged old gold exchange programs to drive sales. Some companies reported that old gold exchange was involved in as many as 40% of their sales. Studded jewellery continued to gain traction, while digital channels and franchise-led formats saw expansion, highlighting the industry's evolving retail expansion continued, with corporate retailers adding between two and 19 new outlets during the quarter, increasing the footprint of organised players in the sector. Indian gold ETFs saw a significant surge in inflows during June, outpacing peers across Asia and likely driven by elevated geopolitical tensions in the Middle East, which reinforced gold's traditional resilient and strategic asset attributes. Net inflows soared to INR 20.8 billion (US$242 million), the highest monthly inflow since January 2025 and the second-largest on record, broadly in line with our initial estimated momentum has continued into July, with healthy inflows recorded in the first 10 days of the month. Data from the Association of Mutual Funds in India (AMFI) show that cumulative assets under management (AUM) in Indian gold ETFs rose to INR 648 billion (US$7.5 billion), an 88% year-on-year increase. Total gold holdings climbed to 66.7 tonnes, with 2 tonnes added in June and 9 tonnes in the first half of 2025.
Time of India
3 days ago
- Business
- Time of India
Gold jewellery demand dips after wedding season but investment buying stays strong: Report
Jewellery demand succumbed to seasonal weakness in June and early July, following the conclusion of the wedding season, but investment demand for the yellow metal remained strong, according to a report by the World Gold Council (WGC). Persistently high gold prices further suppressed demand, prompting consumers to defer non-essential purchases and opt for more affordable alternatives such as lightweight, lower-carat, or studded jewellery. The trend of exchanging old jewellery to manage costs continued to gain traction, as per market reports. Meanwhile, the shift toward investment-oriented buying persisted, with a growing preference for gold bars, coins, and plain gold chains (seen as quasi-investments), which are favoured for their lower fabrication charges. As per anecdotal reports, demand has been concentrated in lower-grammage coins, particularly those weighing less than 10g, the WGC said in the report. Leading listed gems and jewellery companies delivered a strong performance in the April–June quarter, reporting year-on-year revenue growth between 18% and 31%. This growth was largely price-led, even as volumes remained flat or moderated. Live Events A 32% year-on-year rise in gold prices during the quarter and key festivals and wedding demand during April–May boosted sales revenue. High gold prices saw consumers shift toward lighter, lower-karat jewellery, while retailers effectively leveraged old gold exchange programs to drive sales. Some companies reported that old gold exchange was involved in as many as 40% of their sales. Studded jewellery continued to gain traction, while digital channels and franchise-led formats saw expansion, highlighting the industry's evolving retail strategies. Store expansion continued, with corporate retailers adding between two and 19 new outlets during the quarter, increasing the footprint of organised players in the sector. Indian gold ETFs saw a significant surge in inflows during June, outpacing peers across Asia and likely driven by elevated geopolitical tensions in the Middle East, which reinforced gold's traditional resilient and strategic asset attributes. Net inflows soared to INR 20.8 billion (US$242 million), the highest monthly inflow since January 2025 and the second-largest on record, broadly in line with our initial estimated flows. This momentum has continued into July, with healthy inflows recorded in the first 10 days of the month. Data from the Association of Mutual Funds in India (AMFI) show that cumulative assets under management (AUM) in Indian gold ETFs rose to INR 648 billion (US$7.5 billion), an 88% year-on-year increase. Total gold holdings climbed to 66.7 tonnes, with 2 tonnes added in June and 9 tonnes in the first half of 2025.
See - Sada Elbalad
5 days ago
- Business
- See - Sada Elbalad
India's Gold Market Remains Resilient Despite Jewelry Slowdown and Slumping Imports
Waleed Farouk Despite a seasonal lull in gold jewelry demand and June gold imports falling to a 14-month low, the Indian gold market continues to hold steady, supported by strong retail earnings and growing investment demand, according to Kavita Chacko, Head of Research at the World Gold Council. In her monthly report, Chacko noted that gold prices lost momentum by the end of June, recording only a marginal month-on-month increase of 0.3%. She explained that prices were initially supported in early June by a weaker US dollar, rising geopolitical tensions, lower US Treasury yields, and positive inflows into gold-backed exchange-traded funds (ETFs). However, a shift in investor sentiment toward riskier assets curbed the precious metal's gains. Gold Shows Strong Performance Year-to-Date Despite Pressures Gold prices have risen by 2% so far in July, fueled by renewed trade tensions, bringing the yellow metal's year-to-date gains in 2025 to 28% in US dollar terms. In the Indian market, gold ended June with a 0.7% monthly increase to ₹95,676 per 10 grams and continued its upward trend in July, rising by another 1% to ₹97,095. Jewelry Demand Slows, While Investment Appetite Grows Despite gold's strong price performance, high prices weighed on jewelry demand. "Jewelry demand declined following the end of the wedding season and the onset of the seasonal lull in June and early July," Chacko stated. "Higher prices also prompted consumers to defer discretionary purchases or shift toward more affordable alternatives such as lightweight, lower-karat, or gemstone-studded jewelry." Old jewelry exchanges also increased as a cost-saving measure, while investment demand for gold bars, coins, and simple chains—seen as semi-investment products due to their lower manufacturing costs—grew significantly, according to market reports. Jewelry Companies Report Profit Growth Despite Lower Volumes Although demand volume remained subdued, jewelry companies reported higher profits in the second quarter of the financial year. Major listed companies recorded annual revenue growth between 18% and 31%, driven by a 32% year-on-year increase in gold prices and seasonal demand during April and May. Gemstone-studded jewelry also gained popularity as a response to high prices, while digital channels and franchise networks expanded significantly. Leading companies opened between two and 19 new stores during the quarter. Gold ETFs Record Second-Highest Inflows Ever June saw a surge in investment demand, with gold ETFs recording net inflows of ₹20.8 billion (approximately USD 242 million)—the second-highest monthly inflow on record—driven by escalating geopolitical tensions in the Middle East. Total assets under management for Indian gold ETFs reached USD 7.5 billion, an 88% year-on-year increase, while holdings rose to 66.7 tonnes, including additions of 2 tonnes in June and 9 tonnes in the first half of 2025—marking the largest H1 increase on record. Investor participation grew sharply, with 280,000 new accounts opened in June alone, up 27% from May and 41% year-on-year, pushing the total number of gold ETF accounts to 7.65 million. This underscores the growing importance of gold as a strategic asset in Indian portfolios. RBI Resumes Gold Buying at Slower Pace On the sovereign front, the Reserve Bank of India resumed gold purchases in June, adding 0.4 tonnes after a three-month pause, bringing official gold reserves to a record high of 880 tonnes. However, RBI's buying pace has slowed significantly in 2025, with only 3.8 tonnes added in the first half of the year—the lowest H1 addition in six years, compared to 37.1 tonnes in H1 2024. This likely reflects a more cautious approach in response to elevated global gold prices. Nonetheless, gold's share in India's total foreign exchange reserves has risen to a record 12.1%, up from 8.7% a year earlier. High Prices Drive Sharp Drop in Imports Elevated prices also triggered a sharp decline in gold imports, which fell to their lowest level in 14 months in June, marking the third consecutive monthly drop. Import values declined to USD 1.8 billion, down 26% year-on-year and 28% month-on-month. Estimated volumes ranged between 19 and 24 tonnes, compared to 31 tonnes in May. Jewelry Demand Likely to Rebound Ahead of Festival Season Chacko expects jewelry demand to rebound starting mid-August with the onset of the festive season. 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