New Delhi, April 11. Discussions about the country's economy often highlight gold reserves.

According to the World Gold Council, India currently has the eighth-largest gold reserve in the world. The Reserve Bank of India (RBI) holds a stock of 880 tons of gold. However, the Associated Chambers of Commerce and Industry of India (Assocham) states that the gold held by Indian citizens in their homes exceeds the total gold reserves of the top 10 countries with the largest gold reserves.

A report released by Assocham estimates the value of gold stored in Indian households to be around five lakh crore dollars, making it one of the largest reserves of financial assets held by households or individuals. If such a large quantity of gold were to be invested in the country's economy, it could significantly strengthen the Indian economy. The report also indicates that the value of gold held by Indian families exceeds the annual gross domestic product (GDP) of almost all economies in the world, except for the United States and China.

According to the report, if even two percent of the gold reserves held in homes were included in the economy through financial means each year, it could lead to an increase of 7.5 lakh crore dollars in India's GDP by 2047. Currently, various estimates suggest that India's GDP is expected to reach 34 lakh crore dollars by 2047. If two percent of the gold held in homes contributes annually, India's GDP could surpass 40 lakh crore dollars.

The report notes that most of the gold held in Indian households is in physical form, limiting its utility in the economy. To accelerate the country's economic growth, Assocham emphasizes the need to formally invest household gold in various sectors of the economy, such as manufacturing, infrastructure, and agriculture.

The report suggests that effective use of gold monetization schemes, gold loan schemes, or gold-linked savings instruments could facilitate the inclusion of household gold in the formal economic system. This way, gold that is considered almost unusable in the economy could gradually contribute to the country's economic growth through financial means like gold loans, gold savings, and gold monetization.

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New Delhi, September 22 – Gold prices surged by Rs 2,200 on Monday to reach an unprecedented Rs 1,16,200 per 10 grams in the national capital, buoyed by strong global cues. Investors are awaiting key policy signals from US Federal Reserve officials, which are expected to influence market trends in the coming days.

According to the All India Sarafa Association, gold of 99.9 percent purity had closed at Rs 1,14,000 per 10 grams on Friday. In the local bullion market, gold of 99.5 percent purity jumped by Rs 2,150 to settle at a record Rs 1,15,650 per 10 grams, compared with Rs 1,13,500 in the previous session.

Soumil Gandhi, Senior Commodity Analyst at HDFC Securities, said that domestic bullion prices are mirroring the bullish global trend, with both gold and silver trading at record levels. He noted that dovish signals from the Federal Reserve suggest the possibility of two more interest rate cuts by the end of the year. Such a move would likely limit gains in the US dollar and bond yields, while providing further support to precious metal prices.

Apart from expectations of monetary easing, robust inflows into exchange-traded funds and continued demand from central banks have also contributed to the surge. So far this calendar year, gold prices have risen by Rs 37,250 per 10 grams, or 47.18 percent, compared with Rs 78,950 per 10 grams on December 31, 2024.

Silver prices also witnessed a steep rise, climbing by Rs 4,380 to touch an all-time high of Rs 1,36,380 per kilogram in the capital’s bullion market. On Friday, silver had closed at Rs 1,32,000 per kilogram. Since the beginning of 2025, silver has gained Rs 46,680 per kilogram, or 52.04 percent, from its closing price of Rs 89,700 on December 31, 2024.

Globally, spot gold rose by more than one percent to hit a record level of 3,728.43 dollars per ounce. Kainat Chanwala, Associate Vice President for Commodity Research at Kotak Securities, said investors are looking ahead to remarks from several Federal Open Market Committee officials later in the day and a key speech by Federal Reserve Chairman Jerome Powell on Tuesday. As per agency report, these expectations have fueled the rally, driving spot gold to its new all-time high.

New Delhi, July 7 – A recent report has revealed that the global foreign exchange reserves stand at approximately $12.5 trillion, while the gold market has expanded significantly to an estimated $23 trillion. India holds a notable 15 percent share of this gold market, underlining its traditional affinity and investment in the precious metal.

According to the July 2025 edition of the Netra Report released by DSP Mutual Fund, around 65 percent of all gold ever mined is currently held in the form of jewelry. The report suggests that if even 5 percent of global reserves were to shift into gold, it could lead to a sustained and significant surge in gold prices.

Central banks around the world have been increasing their gold reserves, with a notable uptick in the past four years compared to the previous two decades. Between 2000 and 2016, central banks collectively purchased gold worth $85 billion. In stark contrast, in the single year of 2024 alone, they bought gold worth $84 billion, as per agency report.

Since 2022, central banks have been purchasing nearly 1,000 metric tonnes of gold annually, accounting for over a quarter of the world’s total annual gold mining output. This trend reflects a growing inclination among nations to hold non-dollar reserve assets. The instability of U.S. Treasury bonds has made gold a more appealing option for central banks seeking to safeguard their wealth.

The report also highlights that demand for gold remains strong at present. India’s central bank, the Reserve Bank of India (RBI), currently holds about 880 metric tonnes of gold. Notably, in the current financial year (FY2026), India has not added to its reserves, possibly waiting for price corrections following an over 80 percent rise in the last five years amidst global geopolitical and trade uncertainties.

The report further points out the economic vulnerabilities within the European Monetary Union (EMU), which have repeatedly weakened the euro. Meanwhile, the Chinese yuan is still not widely accepted as a market-driven or politically neutral reserve currency.

Additionally, the report notes that India has witnessed a consistent rise in operating cash flow (OCF) margins, signaling strength in cash generation. This is considered a positive indicator from both capital allocation and corporate governance perspectives.

New Delhi, May 13 — Gold prices bounced back sharply on Tuesday, rising by Rs 950 to reach Rs 97,500 per 10 grams in the national capital, driven by positive trends in the global markets. According to the All India Sarafa Association, gold of 99.5 percent purity also saw a significant rise of Rs 1,000, bringing its price to Rs 97,100 per 10 grams.

This recovery comes a day after a steep decline on Monday, when gold had dropped by Rs 3,400 to settle at Rs 96,550 for 99.9 percent purity and Rs 96,100 for 99.5 percent purity per 10 grams.

However, silver prices failed to mirror gold’s performance, falling by Rs 250 to Rs 99,450 per kilogram from the previous close of Rs 99,700 per kilogram.

As per agency report, the rebound in gold was attributed to renewed safe-haven demand following recent geopolitical tensions and global market dynamics. Chintan Mehta, CEO of Abans Financial Services, noted that after a sharp decline triggered by reduced safe-haven buying due to the temporary truce in the US-China trade dispute, gold prices have recovered swiftly.

In the latest development, the United States has agreed to reduce tariffs on Chinese imports from 145 percent to 30 percent, while China has reciprocated by lowering duties on American goods from 125 percent to 10 percent. This move has brought some calm to the global markets and spurred gains in equity indices.

Globally, spot gold was quoted at $3,253.38 per ounce. Kainaat Chainwala, AVP (Commodities Research) at Kotak Securities, stated that gold had slumped over three percent on Monday to mark its weakest close in two weeks. However, the price regained some strength on Tuesday, climbing above $3,240 per ounce amid renewed concerns over geopolitical risks.

Reports of Israeli airstrikes targeting Houthi rebel bases in Yemen have also rekindled demand for gold as a traditional safe-haven asset.

New Delhi, May 12 — Gold prices in the national capital witnessed a sharp decline of ₹3,400 on Monday, settling at ₹96,550 per 10 grams, following a shift in investor sentiment after the United States paused planned tariff hikes on Chinese imports. As per agency report, the drop marked the steepest single-day fall in ten months, with the last comparable slide of ₹3,350 recorded on July 23, 2024.

According to the All India Sarafa Association, gold of 99.5 percent purity closed at ₹96,100 per 10 grams. On Saturday, gold of 99.9 and 99.5 percent purity had closed at ₹99,950 and ₹99,500 per 10 grams respectively.

Traders attributed the sudden drop in prices to improved risk appetite among investors after signs of a thaw in US-China trade relations. Mehta Equities Ltd.'s Vice President for Commodities, Rahul Kalantri, noted that progress in trade negotiations and easing geopolitical tensions, including between India and Pakistan, prompted profit booking in gold.

Silver prices also registered a decline, falling by ₹200 to ₹99,700 per kilogram from Saturday’s close of ₹99,900.

Following weekend trade talks in Geneva, the US agreed to reduce its tariff rate on Chinese goods from 145 percent to 30 percent, while China committed to lowering its tariffs on US goods to 10 percent for a 90-day period. These developments significantly reduced market uncertainty, curbing the demand for gold as a safe-haven asset.

Meanwhile, the US Dollar strengthened against a basket of six major currencies, with the dollar index rising 1.42 percent to 101.76.

Jatin Trivedi, Vice President of Commodities and Currency Research at LKP Securities, cited indications of a possible ceasefire between Russia and Ukraine and the India-Pakistan agreement to halt military operations as further factors reducing geopolitical risk. These signs of de-escalation, combined with bullish equity markets, led to heavy profit-taking in gold, which had earlier rallied on the back of global uncertainty.

In international markets, spot gold declined over three percent to $3,218.70 per ounce, while spot silver dropped by 1.19 percent to $32.33 per ounce.

Pranav Mer, Vice President of EBG – Commodities and Currency Research at JM Financial Services Ltd., stated that investor focus will now shift to upcoming US macroeconomic data, including inflation figures, retail sales, and consumer sentiment indicators. Market participants are also awaiting remarks from Federal Reserve Chairman Jerome Powell for further cues on interest rate policy.

New Delhi, May 6 – Gold prices surged by Rs 2,400 on Tuesday to reach Rs 99,750 per 10 grams in the national capital’s bullion market, driven by continued buying from jewellers and stockists. This sharp rise follows Monday’s closing rate of Rs 97,350 for 99.9 percent purity gold, as per data released by the All India Sarafa Association.

Similarly, gold with 99.5 percent purity rose to Rs 99,300 per 10 grams, up from its previous close of Rs 96,900. This marks the third consecutive session of gains in domestic bullion prices.

As per agency report, Chintan Mehta, CEO of Abans Financial Services, attributed the surge to increased demand for safe-haven assets after former US President Donald Trump announced plans to introduce new tariffs. These proposed measures include levies on pharmaceutical imports and a 100 percent tariff on films made outside the United States, which have renewed concerns about global trade tensions and economic growth.

Silver prices also witnessed a strong upward trend, climbing by Rs 1,800 to reach Rs 98,500 per kilogram in the Delhi market.

Market analysts noted that investors are closely watching the outcome of the US Federal Reserve's meeting scheduled for Wednesday, along with comments from Fed Chair Jerome Powell, as these will likely influence the direction of precious metal prices.

Globally, spot gold climbed by $45.65, or 1.37 percent, to $3,379.77 per ounce. According to Saumil Gandhi, Senior Commodities Analyst at HDFC Securities, gold regained the $3,350 level on Tuesday. He cited ongoing geopolitical tensions—such as the Russia-Ukraine conflict, unrest in West Asia, and renewed strain between India and Pakistan—as key factors boosting safe-haven demand.

He further added that weakness in the US dollar has also contributed to the recent bullish momentum in precious metals.

Meanwhile, international spot silver prices rose by 1.64 percent to reach $33 per ounce.

Mumbai, May 5 – The Reserve Bank of India added nearly 25 tonnes of gold to its reserves during the second half of the financial year 2024–25, a period that witnessed a significant surge in global gold prices. As per agency report, this addition raised the central bank’s total gold holdings to 879.59 tonnes by the end of March 2025, up from 854.73 tonnes at the end of September 2024.

The central bank’s semi-annual report on the management of foreign exchange reserves revealed that RBI increased its gold reserves by a total of 57 tonnes during the full financial year, marking the largest annual addition in seven years. This expansion coincided with a nearly 30 percent rise in gold prices over the same period.

According to the report, the amount of gold stored domestically in RBI's own vaults increased slightly to 511.99 tonnes. In addition to domestic holdings, the central bank held 348.62 tonnes of gold with the Bank of England and the Bank for International Settlements (BIS), while another 18.98 tonnes were maintained as deposits.

Earlier, during the first half of FY 2024–25, the RBI had already shifted a substantial quantity of gold to local vaults. The volume of gold stored domestically had grown from 408 tonnes at the end of March 2024 to 510.46 tonnes by the end of September, in what was described as one of the largest transfers of gold within India since 1991, amidst rising geopolitical uncertainty.

The report also noted that gold’s share in India’s total foreign exchange reserves rose from 9.32 percent six months ago to 11.70 percent by the end of March 2025. However, the overall forex reserves declined to 668.33 billion dollars from 705.78 billion dollars recorded at the end of September 2024.

Despite the drop, the reserves remain sufficient to cover 10.5 months of import requirements, although this is lower than the 11.8 months’ coverage observed at the end of the previous half-year period.

New Delhi, April 30 — Gold demand in India declined by 15 percent year-on-year to 118.1 tonnes during the January to March quarter of 2025, despite a 22 percent surge in value to Rs 94,030 crore, according to the latest report released by the World Gold Council (WGC).

The drop in demand was attributed primarily to a sharp increase in gold prices, which rose by nearly 25 percent since the start of the year, reaching the psychological threshold of Rs 100,000 per 10 grams. This price surge significantly altered consumer buying behavior, as per agency report.

WGC India CEO Sachin Jain stated in the council’s quarterly review that while high prices have impacted affordability, the deep-rooted cultural value of gold continues to support buying sentiment, especially around auspicious occasions like Akshaya Tritiya and the upcoming wedding season.

Experts observed that while the current high prices may lead to cautious buying, the traditional and cultural importance of Akshaya Tritiya — a day considered highly auspicious for gold purchases in India — is expected to maintain momentum in retail demand.

Despite the overall decline in demand, investment in gold rose seven percent during the first quarter, from 43.6 tonnes last year to 46.7 tonnes this year. Conversely, jewellery demand took a significant hit, plummeting 25 percent to 71.4 tonnes compared to 95.5 tonnes in the corresponding period a year earlier. This marked the lowest jewellery consumption for a first quarter since 2020, although its value rose by three percent on a year-on-year basis.

Interestingly, India's gold imports during the quarter increased by eight percent to 167.4 tonnes, reflecting underlying long-term interest. Meanwhile, gold recycling fell sharply by 32 percent to 26 tonnes, as consumers held onto their gold despite record prices.

The average quarterly gold price stood at Rs 79,633.4 per 10 grams in Q1 2025, significantly higher than the Rs 55,247.2 recorded in Q1 2024.

Globally, gold demand during the same period rose by one percent to 1,206 tonnes — the highest first-quarter demand recorded since 2019. WGC projects India’s total gold demand for the year 2025 to range between 700 and 800 tonnes.

Mumbai, April 25 – Despite gold prices hovering around ₹1 lakh per 10 grams, jewellery retailers are optimistic that consumer demand for lightweight gold jewellery and other items will rise during this year's Akshaya Tritiya celebrations. The festival, considered an auspicious occasion for purchasing precious metals, will be observed on April 30 this year, according to the Hindu calendar's Vaishakh month.

As per agency report, Rajesh Rokde, Chairman of the All India Gem and Jewellery Domestic Council (GJC), stated that the gold market is bustling with anticipation as Akshaya Tritiya approaches. He emphasized that Akshaya Tritiya holds immense cultural significance in India and is traditionally associated with increased gold purchases.

Rokde added that despite the high prices, there is an expectation of strong consumer interest in lightweight jewellery and gold items. On Friday, gold was trading weakly at ₹95,075 per 10 grams on the MCX, facing resistance at the $3,330 per ounce level on the COMEX.

While acknowledging that some consumers might initially hesitate due to elevated prices, Rokde expressed confidence that gold’s enduring appeal as a safe investment and its integral role in Indian traditions would lead to positive growth in sales during the festival. He further noted that the jewellery industry is introducing a wide range of products tailored to various budgets and preferences to stimulate market demand.

New Delhi, April 21 – Gold prices in the national capital surged by Rs 1,650 on Monday, nearing the psychologically significant level of Rs 1 lakh per 10 grams. As per agency report, this sharp rise came amid increased demand driven by a weaker US dollar and ongoing uncertainties surrounding the US-China trade war.

According to the All India Sarafa Association, gold with 99.9 percent purity was priced at Rs 99,800 per 10 grams, a substantial leap from its previous close of Rs 98,150 on Friday. Similarly, gold of 99.5 percent purity rose by Rs 1,600 to hit a new peak of Rs 99,300 per 10 grams, up from Rs 97,700 in the last session.

Gold prices have jumped by Rs 20,850, or 26.41 percent, since December 31 last year. Silver also registered a notable increase, climbing Rs 500 to reach Rs 98,500 per kilogram, compared to a flat close of Rs 98,000 in the previous session.

Kotak Mahindra AMC fund manager Satish Dondapati noted that heightened trade tensions, expectations of interest rate cuts, geopolitical uncertainties, and a declining dollar have driven significant price volatility in both gold and silver. He highlighted that gold alone has witnessed a 25 percent rise so far this year, including a 6 percent gain following the US tariff announcement on April 2.

On the Multi Commodity Exchange (MCX), gold futures for June delivery rose by Rs 1,621 or 1.7 percent to a record Rs 96,875 per 10 grams.

In international markets, spot gold hit a new high of $3,397.18 per ounce before settling slightly lower at $3,393.49. Gold futures climbed over $80 or 2.4 percent to breach the $3,400 per ounce level for the first time, supported by tariff uncertainties, a weakening US dollar, and rising bond yields.

Pranav Mer, Vice President for Commodities and Currency Research at JM Financial Services, stated that gold prices continue to exhibit strong upward momentum due to these macroeconomic factors.

Meanwhile, in Asian trading hours, spot silver also gained nearly one percent, rising to $32.85 per ounce.

New Delhi, April 18 — India’s gold imports jumped by a staggering 192.13 percent year-on-year in March 2025, reaching USD 4.47 billion, driven by a significant rise in global prices and sustained demand for the yellow metal. According to data released by the Ministry of Commerce, the import figure for January 2024 stood at USD 1.53 billion.

For the full fiscal year 2024-25, gold imports surged 27.27 percent to USD 58 billion, up from USD 45.54 billion in the previous year. The sharp rise in imports signals robust investor confidence in gold as a safe-haven asset amid rising global uncertainties, increased demand from banks, and rising prices.

As per agency report, on April 17, gold prices in the national capital climbed by Rs 70 to touch a record high of Rs 98,170 per 10 grams. This surge came on the back of a weakening US dollar, heightened concerns over global economic growth, and escalating trade tensions following new tariff announcements by US President Donald Trump.

In contrast, silver prices witnessed a decline of Rs 1,400, settling at Rs 98,000 per kilogram, down from Rs 99,400 in the previous trading session. Silver imports also dropped significantly in March, falling by 85.4 percent to USD 11.93 million. For the entire fiscal year, silver imports declined by 11.24 percent to USD 4.82 billion.

Switzerland remained the largest source of India’s gold imports, accounting for about 40 percent of the total, followed by the United Arab Emirates with over 16 percent and South Africa with approximately 10 percent. Gold accounts for around eight percent of India’s total imports.

In terms of volume, gold imports for 2024-25 slightly declined to 757.15 tonnes from 795.32 tonnes in 2023-24. Despite this, the higher value of imports contributed to a widening trade deficit, which reached USD 21.54 billion in March. For the full fiscal year, India’s trade deficit touched a record high of USD 282.82 billion.

India is the second-largest consumer of gold globally, after China, with imports largely catering to the country’s expansive jewelry industry. Notably, exports of gems and jewelry rose by 10.62 percent year-on-year in March to nearly USD 3 billion. However, annual exports declined by 8.84 percent, falling from USD 32.7 billion in 2023-24 to USD 29.82 billion in 2024-25.

The surge in gold imports has had a visible impact on India’s current account deficit (CAD), which rose to USD 11.5 billion or 1.1 percent of GDP in the October-December quarter, compared to USD 10.4 billion during the same period a year ago. For the April-December 2024 period, the CAD stood at USD 37.0 billion, up from USD 30.6 billion a year earlier. The widening deficit is largely attributed to the increase in the trade imbalance driven by precious metal imports.

New Delhi, April 17: Gold prices in the national capital climbed by Rs 70 on Thursday, reaching a new all-time high of Rs 98,170 per 10 grams, driven by strong global demand and ongoing economic uncertainty. As per agency report, the All India Sarafa Association confirmed the new benchmark, following Wednesday's sharp Rs 1,650 surge that had taken gold to Rs 98,100 per 10 grams for 99.9 percent purity.

The price of 99.5 percent pure gold also rose by Rs 70, touching a fresh record of Rs 97,720 per 10 grams, compared to its previous close of Rs 97,650.

Chintan Mehta, CEO of Abans Financial Services, stated that the rally in gold is being supported by a weakening US dollar, escalating trade tensions, and recent tariff announcements by US President Donald Trump. These developments have fueled concerns over global economic growth, reinforcing gold's role as a safe-haven asset.

With increasing fears of inflation and recession due to the ongoing US-China trade war disrupting supply chains, market volatility has intensified. Mehta noted that major financial institutions have adopted a bullish stance on gold, indicating a broader sell-off in equities, bonds, and currencies in favor of the yellow metal.

In contrast to gold's ascent, silver prices fell sharply by Rs 1,400, closing at Rs 98,000 per kilogram, down from Rs 99,400 in the previous session.

On the international front, spot gold surged to a record high of USD 3,357.81 per ounce before retreating to USD 3,328.84. According to Kainaat Chainwala, Associate Vice President for Commodity Research at Kotak Securities, gold maintained its upward trajectory after US Federal Reserve Chair Jerome Powell warned that ongoing uncertainty over US trade policy could negatively impact the global economy, thereby reducing investors' risk appetite.

Meanwhile, silver in the Asian market declined by 1.37 percent, trading at USD 32.32 per ounce.

HDFC Securities' senior commodity analyst Saumil Gandhi said that investors are now closely monitoring US macroeconomic indicators, including initial jobless claims and the Philadelphia Fed Manufacturing Index, due later on Thursday.