InvestorQ : How have gold imports been in the month of July 2020?
Mary Joseph made post

How have gold imports been in the month of July 2020?

Answer
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sara Kunju answered.
2 months ago


There was not much of a surprise that India‚Äôs July gold imports dipped 24% on a year on year basis. There has been a clear shift in gold demand away from jewelry demand towards investment demand coming from ETFs. Over the last many years the Indian gold market has been a price-sensitive market. However, in 2020, the demand fall has been exacerbated due to COVID-19 conditions.  

A recent report released by the World Gold Council for the first half of 2020 has made c comparison of Indian gold demand and global gold demand over the last 20 years and this year's first half has been the lowest. Gold imports in Jul-20 are down 33% on a YOY basis in the Indian market that has been one of the most active gold consumer markets. Fall in gold imports has been due to weak jewelry demand. Jewelers are not adding to inventory.