Page 7 - Bullion World Volume 5 Issue 1 January 2025

Bullion World | Volume 5 | Issue 01 | January 2025

EDITORIAL In our view, although it is a loophole, the industry
should stay away from it and work with the
government in plugging the loophole. That is
sustainable in the long run.
Dear Readers,
Unlike India, in China—the world’s largest consumer
We wish you all a very Happy New Year 2025!!! of gold—gold has been trading at a premium of USD
4 to USD 10/Ounce above the official international
During 2024, Gold delivered a phenomenal return benchmark prices. With the Chinese New Year on the
of 28% in the global market in USD terms. In India, horizon, there is an expectation of a surge in demand,
gold yielded 20.3% in INR terms in 2024. Likewise, particularly for investment purposes, as consumers
silver delivered 22.9% at the global market while look to gold as a safe haven. This uptick in demand
in India it gained by 16.7% in 2024. Despite a 2.7% reflects broader trends in physical bullion purchases,
depreciation in INR against the USD, the lower yields as investors prioritize stability over adornment.
were mainly due to the steep 9% cut in customs duty
on July 23, 2024. How would gold and silver perform This edition of Bullion World features a special focus
in 2025? Would be happy to listen and learn from on "The Inspiring Journey of ACPL" and "A Timeless
you. Legacy of Indian Craftsmanship" by Amrapali Jewels,
part of the Silver Icons of India series.
India’s gold market remains under pressure, with
elevated prices discouraging local buyers. End of Additionally, Mr. James Jose shares his insights
December witnessed Indian markets at discounts on the Indian Gold & Silver Hallmarking Scheme,
of up to USD13-14/ounce over official domestic offering valuable perspectives on its progress and
prices. Depreciation of the Indian rupee also pushed the way forward.
local prices higher in INR terms, discouraging both
jewellers and customers from buying. Many jewellers The issue also includes a comprehensive overview of
have refrained from purchasing. Gold Exchange-Traded Funds (ETFs) in India.

Moreover, the Hindu month of Khar, considered
inauspicious for gold purchases, added to the
seasonal dip in demand. Last but not the least,
the increasing imports of ‘platinum-alloy’, which Best wishes,
is predominantly gold, using the FTA route or LDC G Srivatsava
route also contributed to the discounts. Editor

We would be happy to receive your comments and feedback on the content of this edition,
please write to editor@bullionworld.in

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