Gold demand may pick up in second half of 2016, say experts Press Trust of India Mumbai August 17, 2016 Last Updated at 21:32 IST

Transcription

1 BS APPS BS PRODUCTS BS SPECIALS BS E-PAPER SIGN IN SUBSCRIBE HOME MARKETS COMPANIES OPINION POLITICS TECHNOLOGY SPECIALS PF PORTFOLIO MY PAGE GALLERY Today's Paper Latest News Economy Finance Current Affairs International Management The Strategist Weekend Data Stories Chat TRENDING ON BS #GST #RioOlympics2016 You are here: Home» PTI Stories» National» News Search News Gold demand may pick up in second half of 2016, say experts Press Trust of India Mumbai August 17, 2016 Last Updated at 21:32 IST PTI International Stories GO [X] Lg 80cm 32 Hd Ready Led Tv 19,299 24,900 Great Offers on Best Televisions Flipkart ALSO READ More inspections due to rising drug imports from India: USFDA Govt examining petition for duty on Chinese tyre imports Kuwait imposes ban on imports of poultry products from India Vegetable oil imports up 15% in June Coal imports to remain strong over coming quarters Global economic crisis will continue to drive the demand for gold and silver worldwide, with appetite for the yellow metal likely to pick up in India in the second half of 2016 on the back of festive season and Pay Commission award, industry experts said. The demand for gold in the domestic market is expected to pick up in the second half of 2016 after a dismal first half, they said. LATEST NEWS IN THIS SECTION BMW to recall over 156,000 cars in China Rio Olympics: I'm sorry but I couldn't have done better, says Vikas Krishan Pakistan invites India for talks on Kashmir Gymnast Dipa, tennis duo in with chance to open medal chest M J Akbar to ring NASDAQ bell to mark India's I-Day ALL NEWS s Properties in Bangalore Premium 2 & 3 BHK By Puravankara. at C. V. Raman Nagar purva270.co.in/book_now High unofficial imports, elevated price, imposition of excise duty and subsequent strike by jewellers had impacted gold demand in the first half. 2 &3 BHK in Bangalore Ready-possession homes from 74 Lac* with limited period flexi pay plan salarpuriasattvacelesta.com "Demand is expected to come back and price discounts are expected to narrow from October. "The overall demand is expected to remain around 380 to 400 tonnes for the second half of calendar year 2016 on account of increase in farmer incomes, salary arrears to Central government employees under 7th Pay Commission and festive demand," Foretell Business Solutions, Head of Bullion Research, Debajit Saha said in a statement here. He added that gold demand remained extremely poor in the first half of the current year. Market had entered into deep discount zone, impacting official supply of gold. Discounts increased the moment government announced levy of excise duty, which prompted jewellers to go on a long strike, he said. Announcement of excise duty and the subsequent strike lead to destocking at jewellers' end.

2 Unanticipated increase in price of gold in early 2016 pushed domestic prices and drove demand out further, besides increasing scrap flows, the statement added. Sudheesh Nambiath of Thomson Reuters GFMS said gold price in India could decline and find support at Rs 29,000/10 gm and later rise towards Rs 33,500 by middle of next year. Lack of physical demand from Asia, increased scrap selling at higher price levels and stable Indian rupee will be key factors that can help put some pressure on domestic prices, he added. (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) READ MORE ON NATIONAL NEWS IMPORTS INDIA PTI STORIES NEWS PREVIOUS STORY Dutch edge close to 'threepeat' after shoot-out win NEXT STORY Hickey 'temporarily' stands down from Olympic roles RECOMMENDED FOR YOU Your Dream Home In Goa Weekly Market Report - Dry Fruits 2 &3 BHK in Bangalore Tips for buying gold jewellery NEWS FROM MARKETS realtygoa.com business-standard.com salarpuriasattvacelesta.com Intraday Tips for Today Know which Intraday Tip we have give today, get Profitable tips now business-standard.com Nifty holds 8,650; ani Ports, Power Grid up 3% The Sensex and the Nifty trimmed gains after both these indices hit their highest level in more than a week Jubilant Life Sciences extends rally post Q1 results Take the Tax Pledge with H&R Block I Am Team India. Know more Super Top-up your Employer Health Insurance at Super Low Cost vertisements RBL Bank IPO to open tomorrow Sudarshan Chemical hits new high on FIIs buying; surges over 75% in one month You Might Also Like Nifty Bank index hits 17-month high Will M&A be the new normal for major IT players? Infosys to sack 3,000 techies as Scottish bank cancels deal Gold up as U.S. rate hike expectations cool MORE NEWS Shuttler Kidambi Srikanth enters Olympics quarters Christians condemn Patanjali's 'holy Cross' commercials Omar Abdullah lashes out at Centre for raising Balochistan Support the Indian Olympic Team Click here Promoted Stories

3 Pigeon Express gets GoJavas control Buy New Age Health Insurance with ded Benefits A d Investing Rs.1000 per month can lead to Long Term Wealth Creation. ABM MyUniverse Four Stocks To Profit From The Coming Stock Market Wave equitymaster.com Dipa Karmakar Was Inconsolable After Returning To Games Village, Says Huffington Post India Strides Shasun to hive off API unit as separate business MOST POPULAR Which country is the most connected? CNN INTERNATIONAL Christians Are Upset With Baba Ramdev For Misusing The Cross In Patanjali Huffington Post India Rocky Ratings in China TheFinancialist by Credit Suisse Recommended by Ola shuts down TaxiForSure business; lays off 700 employees Rio Olympics: Spirited Sakshi Malik ends India's medal drought with a bronze in wrestling Uber goes after Ola by launching web app in India's smaller cities Why Ola, Snapdeal shut brands they chased and bought P V Sindhu's run to the Olympic semifinal hasn't happened overnight PERSONAL FINANCE MFs' equity AUM shrinks in August; first dip since April last year However, inflows remain robust in despite a 6.5% crack in key stock indices Cyber liability insurance must for entrepreneurs Are you down with start-up fever? Services to make your travel cheaper Online mutual fund platforms are fast and convenient

4 Like Page Contact Us Be the first of your friends to like this

5 MORE ON MARKETS: QUICK LINKS BROWSE STOCK COMPANIES STOCK MARKET LIVE PORTFOLIO COMMODITY MARKET STOCK MARKET NEWS DERIVATIVES MUTUAL FUNDS A B C D E F G H I J K L M N O P Q R S T U V W X Y Z BROWSE MUTUAL FUNDS UPCOMING IPO PERSONAL FINANCE GOLD PRICE SENSEX A B C D E F G H I J K L M N O P Q R S T U V W X Y Z INDEX STOCKS ACC ani Ports Ambuja Cem. Asian Paints Aurobindo Pharma Axis Bank B H E L B P C L Bajaj Auto Bank of Baroda Bharti Airtel Bharti Infra. Bosch Cipla Coal India Dr Reddy's Labs Eicher Motors GAIL (India) Grasim Inds H D F C HCL Technologies HDFC Bank Hero Motocorp Hind. Unilever Hindalco Inds. ICICI Bank Idea Cellular IndusInd Bank Infosys ITC Kotak Mah. Bank Larsen & Toubro Lupin M & M Maruri Suzuki NTPC O N G C Power Grid Corpn Reliance Inds. St Bk of India Sun Pharma. Inds. Tata Motors Tata Motors-DVR Tata Power Co. Tata Steel TCS Tech Mahindra UltraTech Cement Ltd Wipro Yes Bank Zee Entertainment FROM BS WEBSITE ABOUT US SUBSCRIBE ELECTIONS 2016 Home About Us E-Paper Assam Elections Companies Code of Conduct BS Magazines Kerala Elections Markets Terms & Conditions Portfolio Tracker Tamil Nadu Elections Copyrights 2015 Business Standard Private Ltd. All rights reserved. Opinion Politics Technology Specials Personal Finance Budget Latest News Today's Paper RBI Policy General News General Videos General Photo Gallery Events Disclaimer Investor Communication SUPPORT & CONTACT Partner with Us Careers vertise with Us Contact Us Feedback Browser Support Sitemap BS PRODUCTS Smart Investor BS Hindi BS Motoring BS Books B2B Connect iphone ipad android wap West Bengal Elections CONNECT WITH BS Facebook Google+ Linkedin Twitter Youtube RSS Authors