World Gold Council report (World Gold Council, WGC), entitled "The Indian gold market: evolution and innovation" and released January 24, 2017, explains the whole chain of the gold market supply of India - from the import and processing to consumer demand, and the fact it may develop in the coming years.
The report also contains a review of existing policies related to gold, and how they have evolved over the past few years.
According to the report, economic growth is the main driver of demand for gold in India. At the same time, India's gold industry is becoming more organized.
Alister Hyuitt (Alistair Hewitt), Head of Research at the WGC, said:
"India's economic growth has become the driving force behind the gold market in the country While the economy has been shaken by the program demonetization in the coming years it will again be able to bounce up and support the gold market. . Taking into account the fact that the outlook for revenue growth is positive in 2020, as we expect, the Indian demand for gold will average between 850 to 950 tons per year. "
According to the report, India's gold reserves reached about 23 000 - 24 000 tons worth more than $ 800 billion South India has the highest share of gold demand in the market is 40%, in Western India, this figure reaches 25%, and the North and East India. are 20% and 15% respectively share demand.
In addition, the WGC noted that in India there are about 385 000 - 410 000 jewelery businesses, most of which, or 70%, are unorganized.
"In the current debate about policy towards the gold market, we tend to focus on the control of imports of the metal - said PR Somasundaram (PR Somasundaram), WGC managing director of the Indian unit -. We want power more than appreciated the role of gold in household finances, as well as the positive impact of its widespread distribution. "
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Auction "Wonderful jewelry" (Magnificent Jewels) Christie's, which was held in New York on December 10, 2015, brought the company $ 59.6 million. The main lot auction was the "Brilliant Victory" (Victory Diamond), sold for $ 4.3 million.
rectangular cut diamond weighing 31.34 carats color D, a rimmed ring was timed to Allied victory in the second World war. He went under the hammer for $ 137.492 per carat. In Christie's it assumed that the value of the lot will be about $ 4-5 million.
The ring with a diamond weighing 43.79 carats, D color was sold for $ 4 million, while a necklace with a diamond weighing 103.66 carats, has gone to the buyer for $ 3.7 million. diamond ring weighing 28.28 carats was sold to a buyer who place bets over the Internet, for $ 3.4 million. This is a new record for the sale of goods through a worldwide network for Christie's.
A number of items from the estate of Carroll Petrie was sold at 90%, with the auction house said on this match buyers for some of the most valuable necklace.
In total, Christie's has sold at least 11 lots worth more than $ 1 million each, and four of them brought to the auction house more than $ 3 million.
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