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India’s Q4 gold demand up 3.3%; full year demand drops: World Gold Council

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New Delhi: The government’s demonetisation move appears not to have affected the demand for gold, which went up by 3.3 per cent in the fourth quarter (October-December) of 2016, data released by the World Gold Council showed on Friday. However, gold demand for the full year 2016 is lower at 675.5 tonnes, compared to 857.2 tonnes in 2015. “Demand for gold in India for Q4 2016 was at 244 tonnes – up by 3.3 per cent – as compared to overall Q4 demand for 2015 (236.1 tonnes),” the report stated. Total jewellery demand in India for the fourth quarter of 2016 was up by 3.5 per cent at 182.2 tonnes as compared to Q4 2015 (176 tonnes).

The value of jewellery demand was Rs 48,191.6 crore, a rise of 16.8 per cent from Q4 2015 (Rs 41,261 crore), the report said. However, the total jewellery demand in India for 2016 was also down by 22.4 per cent at 514 tonnes as compared to 662.3 tonnes in 2015. The value of jewellery demand in 2016 was Rs 138,837.8 crore, a drop of 12.3 per cent from 2015 (Rs 158,310.4 crore). “India’s gold demand for 2016 fell sharply by 21 per cent to 676 tonnes from 857 tonnes in 2015, though demand in Q4 2016 grew by 3 per cent to 244 tonnes, as consumers took advantage of softened gold prices that coincided with Diwali and the wedding season,” said Somasundaram P.R., Managing Director, India, World Gold Council.

“Demand was affected as the industry faced a number of challenges in transitioning to the emerging, structurally transparent system – be it the PAN card requirement, the excise duty on jewellery, demonetisation or the publicity around income disclosure schemes. This was not unique to gold, but trade practices and embedded buying behaviour created short-term headwinds,” he added. Somasundaram said gold remains a legitimate savings option for millions and in order for it to play a dynamic role in the economy it has to enter the mainstream through organised channels. “However, we anticipate that 2017 will see a demand range of 650-750 tonnes, due to the introduction of a Goods and Services Tax coupled with the gradual adaptation to the previous year’s policy changes,” he added.

 

 

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Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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