India's Gold Market: ETFs and Central Bank Buying Shine Amid Jewelry Slump India’s gold market in June 2024 showed a mixed performance, with investment demand and central bank purchases offsetting weak jewelry sales. Despite a slight decline in June, gold prices remained high, with year-to-date gains of 16%. Gold ETFs continued to see strong inflows, with assets under management reaching INR344bn, a 54% year-over-year increase. The Reserve Bank of India made its largest monthly gold purchase in nearly two years. However, jewelry demand remained subdued, and there was a significant widening of discounts between domestic and international gold prices. Looking ahead, jewelry demand is expected to pick up during the festival season starting in August, while interest in bars and coins is anticipated to continue. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts US Jobless Claims Decline Again, Signaling Labor Market Strength READ MORE Gold Futures Fall as Easing Geopolitical Strains Diminish Safe-Haven Appeal READ MORE The Silver Denarius and the Fall of Rome READ MORE Chinese Central Bank kicks off New Round of Gold Accumulation READ MORE Gold Soars Amid Geopolitical Tensions: A Safe-Haven Surge READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment