It is worth mentioning here that the price of gold in the last one year touched several record highs.
According to the All India Sarafa Association, gold prices increased the rally for the fifth straight session and amidst strong demand from jewelers and retailers on Tuesday, Rs 85,800 per 10 grams in the national capital increased by Rs 500 to reach a fresh peak of Rs 10 gram. .
In this year, Gold has increased Rs 79,390 per 10 grams to Rs 6,410 or Rs 8.07 per cent per 10 grams per 10 grams on 1 January.
Meanwhile, in 2024, the demand for jewelery in India in 2024 declined by 2% in 2024, compared to 575.8 tonnes in 2023, the WGC report.
The demand for total jewelery in terms of quantity, despite reaching several record height, decreased the price of gold. “This indicates the flexibility of the demand for gold jewelery in India and highlights India’s strong economic growth compared to many other markets with the impact of the cuts in July,” Jain said.
He said that many consumers bought gold jewelery at the end of the third quarter, when duty cuts reduced the recent price increase.
He said that after the cut in the duty of July, gold prices resumed the trend on top of them, and subsequent reforms in November demanded a low -cost purchase to investors.
However, Jain said, during 2024, the price of gold demand increased by 22%, which reflects the ongoing demand for gold and is supported by the increase in gold prices throughout the year.
Jain said, “Total gold investment increased by 29% in 2024, since 2013, compared to 185.2 tonnes in 239.4 tons – 2023, strengthening the gold position as a safe property,” Jain Said.
Last year, Gold Recycling saw a decline of 117.1 tonnes to 114.3 tonnes in 2023.
With PTI input
