Despite high prices, 1,031 kg gold donated to Tirumala trust in 2023
Thursday, 18 April 2024 Despite soaring gold prices, reaching $2,400 per ounce this year, devotees continue to generously donate gold to the Tirumala Tirupati Devasthanams (TTD), the world's richest Hindu temple trust. In 2023, TTD recorded a deposit of 1,031 kg of gold valued at Rs 773 crore. The trust holds a total of 11,329 kg of gold, worth Rs 8,496 crore, in nationalised banks under the gold monetisation scheme. The trend of increasing gold donations persists even as the global economy faces uncertainty, with TTD receiving an average of one tonne of gold annually over the past four years. Alongside gold, TTD also receives substantial cash offerings, with an average monthly donation exceeding Rs 100 crore. The temple's hundi collection averages Rs 1,600 crore yearly. TTD's assets include Rs 19,000 crore in fixed deposits, nearly 14 tonnes of gold, and 85,000 acres of property, reinforcing its status as India's wealthiest temple trust.
Gold prices have surged over 15% in the last three months, making it the best performing asset class since the beginning of 2024. Similarly, silver has delivered returns of over 13% since January 1. Citigroup forecasts gold to reach $3,000 per ounce over the next 6-18 months, driven by inflation and...
Record-high gold prices have hit jewellery sales along an east London street famed for wedding shopping among the south Asian diaspora, but shop owners are confident that demand for the precious metal..
Jeremy Szafron, respected Anchor at Kitco News, interviews Lobo Tiggre, Editor at the Independent Speculator, to shed light on the recent fluctuations and undercurrents of the gold and silver markets...
The largest single holder of US debt is China. China and Russia are working to reduce their dependence on the Dollar. Gold has been moving from West to East. And the US likely doesn't have all..
Thursday, 18 April 2024
![Record gold prices slow London sales but demand remains robust [Video]](https://video.newsserve.net/300/v/20240510/1375171014-Record-gold-prices-slow-London-sales-but-demand.jpg)
![Gold's Actual Value Greater Than It Appears, Lobo Tiggre Explains [Video]](https://video.newsserve.net/300/v/20240509/1715264131-Gold-apos-Actual-Value-Greater-Than-It.jpg)
![Another Bank Failure; Crisis About To Get MUCH WORSE | Alasdair Macleod [Video]](https://video.newsserve.net/300/v/20240501/1714572338-Another-Bank-Failure-Crisis-About-To-Get-MUCH.jpg)
