New tariff threats strengthen gold price and Indians love gold
After the gold price fell briefly, it is now rising again significantly.
(PresseBox) - It s always the same game: the US president threatens new tariffs, this time on films and pharmaceuticals, and the price of gold goes up. Uncertainty prevails on the financial markets and this increases the attractiveness of gold as an investment that offers a hedge. India is known for its love of the precious metal and the cultural significance of gold is undiminished. Added to this is gold s status as a reliable investment. The Akshaya Tritiya festival took place on April 29. It is considered particularly favorable for starting new ventures, making donations and especially for buying gold.
Looking at Indian gold prices, ten grams of gold cost just under 41,000 rupees in 2020. On April 29, the price for the same amount of gold was more than 95,000 rupees, a record high. That is an increase of almost 55,000 rupees in the last five years. In other words, the price of gold in India has gone up by an average of 18.3 percent per year. According to jewelers, Indians were eager to buy gold during the Akshaya Tritiya festival this time too. Around 40 percent of gold purchases were made in South India, 25 percent in the West, 20 percent in the East and ten percent in the North. Although India s demand for gold fell by around 15 percent in the first quarter of 2025, it rose by 22 percent in terms of value. The World Gold Council expects India s demand for gold to be between 700 and 800 tons this year. Since the beginning of the year, gold prices have risen by around 25 percent and are approaching the 100,000-rupee mark for ten grams. Naturally, the high prices are having an impact on purchasing behavior. More smaller pieces of jewelry have been bought. The wedding season is also approaching in India, a time that ensures more demand for gold. The demand for wedding jewelry seems to be stable, as it is considered essential for weddings. If you want to bet on gold, you can take a look at Goldshore Resources and Tudor Gold.
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Current company information and press releases from Goldshore Resources (- https://www.resource-capital.ch/en/companies/goldshore-resources-inc/ -).
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Datum: 07.05.2025 - 09:17 Uhr
Sprache: Deutsch
News-ID 721402
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