Page 31 - Bullion World Volume 3 Issue 1 2023
P. 31
Bullion World | Volume 3 | Issue 1 | January 2023
India’s silver imports
DOMESTIC top 8,000 tonnes
as consumption for
news jewellery rises SLI.
India’s silver imports have topped a record
high of 8,000 tonnes this year due to a rise in jewellery consumption.
Silver jewellery consumption, which made up over 50 per cent of the
21 per cent growth in global offtake last year, is expected to increase
by 11 per cent this year, surpassing the levels seen in 2019, according
CASHe launches to the Silver Institute. “Silver jewellery fabrication rebounded by 21 per
cent in 2021 to 5,641 tonnes as economies reopened and consumer
GOLDe Rewards, sentiment began to improve. More than half of all increases were
a digital gold due to top fabricator India where offtake benefited from the easing of
lockdowns. This led to a jump in the number of weddings and other
program. social events,” the silver institute said in its “World Silver Survey 2022”.
CASHe, an Indian credit-led, AI-driven Source: https://www.thehindubusinessline.com
financial wellness platform, announced
that it had launched GOLDe Rewards, India’s gold
an innovative rewards program seizures hit a three-
backed by digital gold for prospective
borrowers and users. The GOLDe year high after
rewards program incentivises every the import duty
user with GOLDe Rewards in the form
of digital gold coins equivalent to 1% increase.
of every loan transaction deposited in Customs and other agencies seized over 3,100 kilograms of gold
a gold jar made available to them on illegally brought into the country this year, based on data made public
the CASHe app. The GOLDe reward by the Ministry of Finance in the parliament. Seizures of smuggled gold
points accumulated by the users can in India reached a three-year high this year after the government raised
be converted to digital gold and then the import duty on the precious metal and international flights resumed
redeemed as cash to buy movie tickets, following Covid-19 curbs. So-called grey market operators try to avoid
dine at a restaurant, or even deposit in the import duties by selling gold at discounts to market prices, which in
their bank account. The digital gold turn forces competing dealers to lower prices.
stored in the gold jar is powered by Source: https://www.hindustantimes.com
Augmont and provides users with a
safe, easy, and reliable method of
buying, selling and redeeming 24k World Gold Council
digital gold with 99.99 per cent purity. releases “Power
Source: https://ibsintelligence.com
your portfolio with
gold.”
The World Gold Council launched a multi-media marketing campaign in
India to create awareness of gold's role in an investment portfolio and
drive adoption amongst new-age young investors. The campaign aims
to reinforce gold as a versatile asset and highlight its strategic advantage
in a digitally connected and competitive investment market. ‘Power your
portfolio with gold’ intends to position gold as a strategic asset and
highlights its role in an investment portfolio. Substantiating investors’
faith in gold, it also highlights how gold is an effective portfolio diversifier
that maintains its value and provides stable returns over the years.
Source: https://www.adgully.com
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