The Muthoot clan, which has doled out gold loans for almost nine decades, is on a roll as consumers take advantage of surging bullion prices to swap jewellery for short-term cash.
Gold is now firmly established as another investment asset, along with stocks and bonds. These days, its investment role is as part of a diversified portfolio, not as a hedge.
Sovereign Gold Bond scheme was meant to reduce physical gold imports & provide govt a cheaper borrowing option. But gold imports haven’t gone down while govt liability has surged.
Sales slumped 18% from a year earlier & imports plummeted over half in the first quarter as prices surged & fresh Covid outbreak kept people away from stores, World Gold Council said.
Marriage and festive demand, and high inflation are pushing gold imports. Decline in interest rates on savings instruments, and equity market issues could boost this further.
Recovery in India's gold demand, which bounced back in the first three months of 2021, has faltered again as surging infections force many states to impose lockdown-like curbs.
The rebound in demand follows a nearly 80% drop in imports between January and June and comes as India slowly eases restrictions put in place to control the Covid outbreak.
The consumption of gold fell 56% from a year earlier to 165.6 tons in the first half of 2020. The drop is unlikely to be made up during the rest of the year.
The kidnapping—followed by the killing of four Indian Air Force officers soon after, and the executions of Intelligence Bureau personnel—made the triumph of jihadism seem inevitable.
December oil imports from Russia may drop nearly 50%, but Indian buyers already shifting to non-designated Russian entities and opaque trading channels to keep Russian oil flowing.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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