8 357
Fashion Jobs
SHINE
Senior Account Manager - Paid Search
Permanent · CHENNAI
SHINE
Social Media & Ecommerce Manager
Permanent · HYDERABAD
BENCHMARK SERVICES
Area Sales Manager - Sme Lap With Top Nbfc Company
Permanent · AHMEDABAD
GENIUS CONSULTANTS
Opening For Territory Sales Manager OR Area Business Manager
Permanent · NASHIK
TALISMAN HR SOLUTIONS
Area Sales Manager (Transportation & Logistics Company)
Permanent · AHMEDABAD
AUXIN RECRUITMENT CONSULTANTS
Area Sales Manager | Lap | Hyderabad
Permanent · HYDERABAD
BERGER PAINTS
Area Sales Manager Wood Coating
Permanent · ROHTAK
360 REALTORS
Hiring -Team Leader/ Sales Manager / Relationship Manager| Pune
Permanent · PUNE
LEVI'S
Senior Supply Planner
Permanent · BENGALURU
ADIDAS
Manager -Tech Infrastructure
Permanent · CHENNAI
ADIDAS
Senior Specialist - Finance Operations FP&A
Permanent · CHENNAI
ADIDAS
sr. Manager Merchandising Ecommerce - em Hub
Permanent · GURUGRAM
ADIDAS
sr. Manager- DPC Partner Program
Permanent · GURUGRAM
L'OREAL GROUP
Online Brand Manager
Permanent · MUMBAI
L'OREAL GROUP
Retail And Education Manager - Ysl
Permanent · MUMBAI
JCPENNEY
Senior Manager
Permanent · BENGALURU
DAMYAA PJ FOODS
Area Sales Manager/Regional Sales Manager
Permanent · ROHTAK
ON TIME SOLUTIONS
Branded Fmcg Company Opening For Area Sales Manager in North Kerala
Permanent ·
HECTOR AND STREAK CONSULTING
Sales Engineer / am / Manager - Ups
Permanent · MUMBAI
HDFC LIFE
Hiring For Associate Area Manager-Abp Channel
Permanent ·
SAHAJ PHARMA
Production in Charge - (Synthetic Iron Oxide Pigment)
Permanent · DAHEJ
STONELAM SURFACES LLP
Area Sales Manager- Project Sales
Permanent · CHENNAI
By
Reuters
Published
Jan 31, 2023
Download
Download the article
Print
Text size

India's 2022 gold consumption drops 3 percent as prices rally - WGC

By
Reuters
Published
Jan 31, 2023

India's gold consumption in 2022 fell 3% from a year earlier, as a rally in local prices to near-record highs curtailed bullion demand during the key December quarter, the World Gold Council (WGC) said on Tuesday.


India's 2022 gold consumption drops 3 percent as prices rally - WGC - Reuters


Lower consumption in the world's second-biggest gold buyer could weigh on global prices, but help in bringing down India's trade deficit and support the ailing rupee.

India's gold consumption declined to 774 tonnes last year as demand dropped 20% to 276.1 tonnes in the December quarter, the WGC said in a report.

In the March 2023 quarter, gold consumption could improve on the back of a pick-up in rural demand amid elevated prices of summer-sown crops and a higher number of auspicious days for weddings, the council said.

Two-thirds of India's gold demand usually comes from rural areas, where jewellery is a traditional store of wealth.

Gold is an essential part of the bride's dowry in India and also a popular gift from family and guests at weddings.

"Demand will, however, continue to face headwinds from the higher domestic gold price and persistently high rural inflation," the WGC said.

Local gold prices hit an all-time high of 57,149 rupees ($699.63) per 10 grams in January.

The rally in gold prices prompted some investors to sell gold, while some consumers exchanged old gold jewellery for new, which lifted gold recycling in India by 30% to 97.6 tonnes in 2022, the WGC said.

© Thomson Reuters 2024 All rights reserved.