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Update on Gold Indicators for April: Who's Buying, Who's Selling? (Part 11 of 12) (Continued from Part 10) India’s gold imports
We’ve already looked at China’s gold import data. Data on India’s gold imports can also give you a sense of the direction gold demand is taking in the Asian market. Historically, India (EPI) has been the number-one gold consumer.
India’s demand for gold
The value data for India’s gold imports are reported every month by the Reserve Bank of India (or RBI). These data show India’s demand for gold. India imports ~90% of the gold it consumes. It’s the major component of India’s trade deficit.
Imports surge in March
In value terms, India’s gold imports came in at $4,983.6 million for March compared to $1,981.5 million in February. This is a jump of 94% year-over-year (or YoY) and 151.5% month-over-month. In volume terms, gold imports more than doubled YoY in March to 125 tons from 60 tons. The increase is probably due to the easing restrictions on gold imports by the RBI and declining gold prices. One other reason could be that a key Hindu festival, Akshaya Tritiya, also fell in March.
Higher imports by India and China have helped support gold prices in the past. Any sustained strength in gold demand should be positive for gold prices (GLD) (IAU) and gold stocks such as Barrick Gold (ABX), Newmont Mining (NEM), Gold Fields (GFI), Sibanye Gold (SBGL), and Iamgold Corp (IAG). These companies make up 19.9% of the Market Vectors Gold Miners ETF (GDX).
Continue to Part 12 Browse this series on Market Realist:
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Gold Fields ltd
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PRODUCTEUR |
CODE : GFI |
ISIN : US38059T1060 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Gold Fields est une société de production minière d'or basée en Afrique Du Sud. Gold Fields est productrice d'or, de cuivre au Ghana, au Perou, en Australie et en Afrique Du Sud, en développement de projets d'or au Mali, et détient divers projets d'exploration au Perou. Ses principaux projets en production sont ST IVES MINE et AGNEW en Australie, BEATRIX MINE, DRIEFONTEIN, KLOOF MINE, SOUTH DEEP, KLOOF et BEATRIX en Afrique Du Sud, DAMANG, TARKWA et DAMANG PROJECT au Ghana et CERRO CORONA au Perou, son principal projet en développement est KOMANA au Mali et ses principaux projets en exploration sont LOBO aux Philippines et CHUCAPACA et CANAHUIRE au Perou. Gold Fields est cotée aux Etats-Unis D'Amerique, en Afrique Du Sud et en France. Sa capitalisation boursière aujourd'hui est 14,4 milliards US$ (13,5 milliards €). La valeur de son action a atteint son plus bas niveau récent le 10 novembre 2000 à 1,69 US$, et son plus haut niveau récent le 26 avril 2024 à 17,59 US$. Gold Fields possède 821 530 048 actions en circulation. |