Australia topple India as world's No 1 Test side
Dubai, Jan 5: Despite a seven-wicket win at Cape Town to draw their two-match series in South Africa, India were toppled from the top spot in ICC Test rankings by Australia on Friday.
Australia's impressive effort to take an unassailable 2-0 lead over Pakistan at home in the on-going three-match series has helped them move up in the rankings. The third match of that rubber is currently underway in Sydney.
"Australia's impressive run at home against Pakistan helped them take the crown of the No. 1 Test team once again, having last held the spot briefly following their WTC Final victory," the ICC stated in a release.
In the previous update, India had more points in their kitty despite being tied with Australia at 118 rating points each.
But the drawn series in South Africa meant India were leapfrogged by Australia.
"With India drawing their the two-Test series against South Africa 1-1 and Australia recording two wins in as many matches against Pakistan, the Pat Cummins-led side now top the Test rankings," the ICC said.
"It's the latest feat in a year full of them for Australia, alongside their ICC World Test Championship Final victory and their ICC Men's Cricket World Cup triumph."
India, however, are placed at the top of the World Test Championship points table following their win at Newlands with 54.16 percentage points from four Tests that include two wins, one loss and a draw.
South Africa are placed second followed by New Zealand at third and Australia at fourth with 50 percentage points each in the WTC table.
"The ongoing third Test between Australia and Pakistan and the upcoming five-match Test series between India and England will likely lead to further activity in the Test Team Rankings, with the top spot on the line alongside crucial ICC World Test Championship points," the ICC added.
A new No.1 side is crowned in the @MRFWorldwide ICC Men's Test Team Rankings 👑
— ICC (@ICC) January 5, 2024
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India's gold demand falls 15 pc in Jan-Mar to 118.1 tonnes on high prices: WGC
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New Delhi (PTI): India's gold demand witnessed a 15 per cent on-year decline to 118.1 tonnes in the January-March quarter of this year, even as value grew by 22 per cent to Rs 94,030 crore due to surging prices, the World Gold Council (WGC) said on Wednesday.
According to the WGC forecast, India's gold demand for 2025 is expected to be between 700-800 tonnes.
Gold prices have risen 25 per cent since the beginning of 2025, approaching the key psychological threshold of Rs 1,00,000 per 10 grams, affecting consumer buying patterns.
"The elevated prices have impacted affordability. Yet, the enduring cultural significance of gold, especially ahead of Akshaya Tritiya and the upcoming wedding season, continues to support buying sentiment," WGC India CEO Sachin Jain said in its quarterly report.
According to experts, the gold market is humming with excitement on the auspicious occasion of Akshaya Tritiya, which holds immense cultural significance in India, traditionally marking a surge in gold purchases.
Record prices have pushed consumers towards smaller, lightweight pieces, with some postponing purchases hoping for price dips. Despite this, wedding-related demand remained relatively stable given its essential nature.
Experts believe, while the current price levels might prompt some to exercise caution, the inherent cultural significance of gold during Akshaya Tritiya, coupled with its enduring status as a reliable asset, suggests continued positive momentum in buying, they added.
Investment demand, however, remained resilient with a 7 per cent rise to 46.7 tonnes, from 43.6 tonnes in the corresponding period.
Moreover, amid financial market uncertainty, gold's role as a safe asset has become more pronounced, and got reflected in a sharp uptick in demand for gold bars and coins.
However, jewellery demand declined by 25 per cent to 71.4 tonnes during the first quarter of 2025 calendar year, from 95.5 tonnes in the year-ago period. This was the lowest volume since 2020, though value was 3 per cent higher year-on-year, according to WGC.
Gold imports rose 8 per cent to 167.4 tonnes in the January-March quarter, while recycling fell 32 per cent to 26 tonnes, as consumers held onto their gold amid record prices.
The average quarterly gold price in the first quarter of this year was Rs 79,633.4 per ten grams, compared to Rs 55,247.2 in Q1 2024.
Meanwhile, global gold demand has increased 1 per cent to 1,206 tonnes in the January-March quarter of 2025 -- the highest first-quarter level since 2019.
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