Connect with us

National News

Indian Gold ETF investments surge in October amid global outflows

Published

on

Gold ETfs

Investments in physically backed gold exchange-traded funds (ETFs) by Indian investors were the third highest globally in October, even as major Western markets such as the UK and Germany saw sustained outflows, according to the latest data from the World Gold Council.

From January 1 to October 31, India emerged as the fifth-largest contributor to global gold ETF inflows. Notably, October proved to be a pivotal month, accounting for nearly one-third of India’s total inflows for the period. As of November 7, Indian gold ETF holdings had reached $2.91 billion, supported by a strong monthly inflow of $849.8 million in October.

However, preliminary data for November suggests a shift in sentiment across key markets. In the first week of the month, US gold ETFs registered outflows worth $77.6 million, while investors in other regions collectively withdrew $38.3 million. Comparable figures for Indian ETFs during this early-November window have not yet been reported.

According to the WGC, physically-backed gold exchange-traded funds are an important source of gold demand, with institutional and individual investors using them as part of well-diversified investment strategies.Investments in gold in various forms have increased over the past two years on rising geopolitical crisis and uncertainty over trade wars, particularly between the US and other nations such as China, Brazil and Canada.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

National News

Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day  

Published

on

  • Event marks 42 years of Incorporation and 16 years of Operations
  • Recently-appointed Consul-General’s first visit to the Bourse helps strengthen a century-old bond
  • Long service awards presented to outstanding employees

Bharat Diamond Bourse today marked 42 years of incorporation and 16 years since the commencement of operations at the BDB Complex in BKC with a special programme graced by H. E. Pierre Stverlynck – Consul General of Belgium in Mumbai as Chief Guest and a number of leading diamantaires.

The function was organised to celebrate the crucial roles played both by the visionaries who conceptualised the need for a centralised infrastructure to boost the diamond trade over four decades ago, and the employees who have run the daily operations in a highly efficient and professional manner. 

In his Welcome Address, BDB Vice President, Mehul Shah explained the significance of celebrating twin milestones – 42 years of incorporation and 16 years of operations. He said:

“BDB began with a vision and is now the world’s largest operational bourse, and a symbol of India’s leadership in the diamond world and excellence in every aspect of operations.”

He added, “It is significant that the Consul General of Belgium is with us on this special occasion. Antwerp and Mumbai have a very close relationship, going back more than 100 years. Today the two cities have bonds based on trust, trade and friendship. We are committed to strengthening this bond over the next century as well.” 

Congratulating the awardees he said that members may be the owners, but it is the staff who run the complex and have helped build it as the “best of the best” centres for diamonds. “Personal integrity combined with hi-tech surveillance have made BDB one of the safest places in the world,” he explained, and urged all present never to forget that “it is the soldiers who fight and win the wars.” Mr Shah offered compliments to all the awardees and congratulated Team BDB. 

Speaking on the occasion, Anoop Mehta, President BDB, welcomed Mr Stverlynck who has recently assumed charge as Consul General of Belgium in Mumbai.

“We are sure that this will be the first of many visits to our Bourse,” he said, noting that the Consulate is the nearest neighbour of the complex. 

“The BDB leadership has always enjoyed a very special relationship with the Belgian consulate,” he added, “built on the longstanding bonds between the diamond industry in our two countries.”

Mr Mehta said it was heartening that so many employees had remained loyal to the BDB for multiple years, and urged all gathered to reach out through their department heads to put forward suggestions for further changes and improvements

Mr Stverlynck, who was on his first visit to the Bourse after assuming charge as Consul General, said he was extremely impressed with the facilities available for exporters within the complex. Assuring the trade of cooperation and support, he said he was happy to be personally present to celebrate such a remarkable institution as BDB that has become a key pillar of the India diamond industry.

Congratulating the leadership for its role in steering the bourse, as well as those employees who had received long service awards, Mr. Stverlynck said:

“The consolidated knowledge and experience of so many from those at the top to a number of others who contributed in various ways, is an asset to the industry.”

Special long service awards were presented to employees who completed special milestones during the year. These included 30-year, 25-, 15-, 10- and 5-year service awards to a few employees. 

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x