Indian gold prices rose 10% this year due to global price surge, central bank purchases, geopolitical risks, and US Fed policy expectations.
Indian gold prices increased 10% this year due to a 18% surge in global prices, driven by central bank purchases, geopolitical risks, and the US Federal Reserve's policy expectations. Reduced import duty boosted domestic demand, especially for the festive season. Indian gold ETF assets grew 48% YoY, and the RBI's gold acquisitions surpassed purchases from the past two years. Despite the increase in domestic prices, the landed cost of gold decreased by 6%.
August 24, 2024
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