Business

India’s Gold Investments Soar 60% to ₹1.5 Lakh Crore in 2024: Report

Published

1 year ago

February 6, 2025

A report released on Wednesday revealed that gold investments in India experienced a remarkable increase in 2024, rising by 60% in value to approximately $18 billion (around Rs 1.5 lakh crore) compared to 2023.
The World Gold Council (WGC) noted that gold investment demand reached 239 tonnes, marking the highest level since 2013, reflecting a 29% increase from the 185 tonnes recorded the previous year.

In the October-December quarter, gold investment remained robust, with demand hitting 76 tonnes, nearly matching the performance of the previous quarter, according to the report.

With 239 tonnes demanded, India accounted for 20% of the global gold investment market, which totaled 1,180 tonnes in 2024. This reflects a 25% increase in worldwide demand compared to 945.5 tonnes in 2023.

The report attributes this surge primarily to the consistent rise in gold prices throughout the year. After a reduction in import duties in July, prices began to climb steadily. A market correction in November led to increased investor interest as many sought opportunities to buy at lower prices. Moreover, the festive seasons of Dhanteras and Diwali in October and November significantly boosted gold purchases.

The report highlighted that major metropolitan areas experienced heightened buying activity, facilitated by e-commerce platforms offering quick delivery of small gold investment bars and coins—sometimes within just 10-15 minutes.

Additionally, the underperformance of other investment assets contributed to the gold surge. The domestic stock markets, which showed average returns in the first half of the year, suffered a notable decline by the end of 2024 after reaching record highs in the third quarter.

The report also indicated that the demand for gold is expected to expand to include gold exchange-traded funds (ETFs) and mutual funds. After hitting a four-year low of 3,080 tonnes in April, global gold ETF holdings gradually recovered throughout the year, aside from a minor decline in November. This increase has been linked to rising geopolitical uncertainties, evolving expectations regarding interest rates, and gold’s strongest annual price performance since 2010.

Business

Fuel Prices Hiked by Rs.3 per Litre across India

Published

10 hours ago

May 15, 2026

Namma Kudla

New Delhi: Petrol and diesel prices have been increased by Rs.3 per litre across the country from today. Oil marketing companies revised the rates due to the rise in global crude oil prices.

After the hike, petrol price in Bengaluru has reached Rs.106.17 per litre, while diesel now costs Rs.94.10 per litre.

The increase comes amid fluctuations in international crude oil prices and tensions in West Asia, including the Iran conflict. The fall in the value of the Indian rupee against the US dollar has also increased import costs.

The fuel price hike is expected to affect transportation and daily essentials. Transport charges for goods may rise, leading to higher prices of vegetables, fruits, milk, and other items. Bus, auto, and taxi fares may also increase.

Earlier, fuel prices were reduced before the 2024 Lok Sabha elections. In 2022, the Centre had also cut excise duty to control inflation after the Covid pandemic.

Business

Gold Prices Rise in Mangaluru; Demand for Ornaments Remains Strong

Published

2 weeks ago

May 4, 2026

Namma Kudla

Mangaluru: Gold prices in the coastal city of Mangaluru have been reported at high levels today. The rate for 24 karat gold (99.9% purity) stands at Rs.14,962 per gram. The price for 22 karat gold (91.6% purity) is Rs.13,715 per gram. Meanwhile, 18 karat gold (75% purity) is being sold at Rs.11,222 per gram.

Mangaluru is well known for its deep cultural connection with gold. The city has a long tradition of buying and wearing gold ornaments. This tradition continues strongly even today.

Local jewellers say that demand for gold remains steady despite high prices. Many people still prefer to invest in gold for safety and long-term value. Gold is also an important part of weddings and festivals in the region.

Apart from its love for seafood, Mangaluru is also famous for its gold market. The gold trade in the city has a long history and continues to grow.

Buyers are advised to check the latest rates before making a purchase. They can also use a gold rate calculator to get exact pricing based on weight and purity.

Experts say that gold prices may change depending on global market trends. Customers should stay updated and make careful decisions while buying gold.

Business

Pune FDA Seizes 3,800 Kg of Adulterated Mango Pulp in Major Crackdown

Published

1 month ago

April 15, 2026

Namma Kudla

In a major action against food adulteration, the Food and Drug Administration (FDA) in Pune has seized over 3,800 kilograms of mango pulp mixed with unsafe food colours.

The raid was carried out after officials received confidential information about illegal production activities in the district. Acting quickly, an FDA team traced the source to a manufacturing unit in Urse village in Maval taluka.

During the inspection, officers found that the mango pulp was being prepared using unauthorised food colours and other banned substances. These materials are not allowed under food safety rules and can be harmful to consumers.

The unit was reportedly operated by Mohammad Ekramul, also known as Akram Gulam. Authorities said the facility was violating multiple food safety regulations.

Officials immediately seized the adulterated stock and stopped further production at the site. The FDA has also begun investigating the supply chain to identify where the products were being distributed.

Authorities warned that strict action will be taken against those involved in food adulteration. They also urged the public to stay cautious while buying food products, especially during the mango season.

Further investigation into the case is currently underway.