Page 46 - Bullion World Issue 7 November 2021

Bullion World | Issue 07 | November 2021 Bullion World | Issue 06 | October 2021

Indian gold ETF holdings

hit highest level since

September 2013: WGC

Monetary policy shifts by global central banks may challenge gold going
ahead. The US Federal Reserve finally signalled that it was almost ready
to begin tapering asset purchases – perhaps as soon as November. The
imminent tapering, and likely subsequent rate hikes, can be a headwind for
gold Holdings in Indian gold exchange-traded funds (ETFs) hit their highest
since September 2013, driven by heightened volatility in stock markets and
a correction in domestic gold prices, the World Gold Council (WGC) said in
a report. Indian gold ETFs witnessed net inflows worth $68.3 million during
September, taking year-to-date flows to $433 million.

Source: https://www.livemint.com

MMTC-PAMP eyes We expect gold

Southern market to imports to rise further

boost bullion sales in coming months:
GJEPC
Plans to expand footprint across Karnataka,
Tamil Nadu, Telangana and Andhra Pradesh
with local partnerships MMTC-PAMP, a joint The country's gold imports are expected to grow further in the coming months
venture between MMTC and Swiss bullion on account of peak demand due to festive and wedding seasons, Gems and
brand PAMP SA, is eyeing the Southern Jewellery Export Promotion Council (GJEPC) said. Gold imports, which have a
market to boost sales. “South accounts bearing on the current account deficit, zoomed to about USD 24 billion during
for over 40 per cent of the Indian precious April-September 2021.
metals (gold and silver) market and the Source: https://www.business-standard.com
region’s affinity towards them outshines
many other markets. Our foray into the
region is a natural progression as we
consolidate our sectoral leadership across Gold imports jump
the entire gold and silver ecosystem,” said,
Managing Director and CEO, MMTC-PAMP. multi-fold to USD 24 bn
in Apr-Sep
Source: https://www.
thehindubusinessline.com
Gold imports, which have a bearing on the current
account deficit, zoomed to about USD 24 billion
during April-September 2021 due to higher
demand in the country, according to data from the
Commerce Ministry. Imports of the yellow metal
was USD 6.8 billion in the corresponding period last
year, the data showed.

Gold imports during September this year too rose to
USD 5.11 billion as against USD 601.4 million in the
same month last year.

Source: https://economictimes.indiatimes.com

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