0.70$US/Lb
0.24$US/Lb
0.22$US/Lb
0.31$US/Lb
0.82$US/Lb
784.00$US/MT
962.00$US/MT
1077.00$US/MT
405.00$US/MT
653.40$US/MT
633.54$US/MT
2430.83$US/MT
2816.65$US/MT
35.24$US/MT
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SEATTLE (Scrap Monster): According to Kavitha Chacko, Research Head-India, World Gold Council (WGC), gold outperformed other asset classes to become the best-performing asset in India in 2024, despite price reduction in the latter two months of the year. In terms of domestic currency, the yellow metal saw gains of 21% in the preceding year. Meanwhile, in 2024, the returns in US dollars were higher at 26%.
Gold saw moderation in November and December, declining 4% and 2%, respectively, according to the WGC report. The robust dollar surge was a major factor in the fall. The decline was constrained by growing geopolitical uncertainties and continuous strong ETF inflows. Global political uncertainty has continued to bolster gold prices, which have started the year strongly in 2025.
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Since December of last year, demand for gold jewelry has been muted, primarily due to high and volatile pricing. As seen by the ongoing physical investment demand for gold bars and coins, the demand for gold investments remained robust, according to the WGC study.
WGC anticipates that the demand for Indian jewelry would gradually rebound starting in mid-January of this year, mostly due to wedding purchases. However, the stability of the gold price will also affect demand. WGC predicts that there will be a sustained demand for gold as an investment in the near future.
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