For the first time in the history of the Indian jewellery market, silver sales surpassed gold during this Dhanteras season. High gold prices have dampened consumer demand, leading shoppers to turn to silver instead. “Silver sales have shot up 30-35% this year despite prices being 40% higher than last Dhanteras,” Surendra Mehta, national secretary at…
Indian consumers purchased 51% more gold compared to China between July and September led by higher purchases of gold coins and bars, as per latest World Gold Council data. The data showed Indians purchased 248.3 tonnes of gold compared to China’s 165 tonnes. On a year-on-year basis, India’s demand for gold surged by 18% in…
Representative Image There has been a 10-15% year-on-year drop in jewellery and gold demand by volume this Dhanteras, according to initial estimates, with consumers mostly purchasing lightweight and diamond-studded jewellery even as the young crowd returned to retail outlets, leading jewellers said. Yet, value sales of the yellow metal increased by up to 25% due…
Representative image Kolkata: India’s leading jewellers expect gold demand to drop by 15-20% this Diwali-Dhanteras as compared to last year same period as gold price is nearing Rs 81,000 per 10 g mark, forcing many of them to come up with freebies beyond making charges discount in which is usually the peak shopping period. Diwali-Dhanteras…
Representational image Despite gold prices touching record highs of Rs 79,000 per 10 gm, gold demand uptick is expected to continue this Diwali and till the end of the year due to the wedding season, according to the World Gold CouncilSachin Jain, Regional CEO, India, World Gold Council said, “Buying gold is considered auspicious during…
Representative image Kolkata: Gold touched a new high of ₹78,300 per 10 gm on Wednesday due to safe-haven buying amid escalating tensions in the Middle East, and lower US bond yields. Market participants are expecting the yellow metal to rise further if global geopolitical uncertainties worsen. Prices rose by ₹1,500 per 10 gm compared to…
Representative image Physical demand for gold across key markets has tumbled as prices continue to rise, with some retail consumers opting to sell their holdings and book the profit, industry players and analysts said. Spot gold rose to a record $2,685.42 per ounce on Sept. 26, and has gained around 29% so far this year…
Representative Image Monthly instalment schemes floated by jewellers are keeping the gold demand alive for the retailers, with the amount received by them from consumers continuing to grow in corpus when overall gold demand remains weak. Market leader Tata-owned Tanishq has disclosed that monthly deposit at its stores has gone up by 10% year-on-year (yoy)…
Representative image On Friday, the World Gold Council (WGC) said that the rural purchase of gold this festive season will provide fresh momentum to gold demand in the country. WGC has earlier revised the demand for gold this year to 850 tonnes from 750 tonnes. “Rural consumption demand has been showing signs of improvement and…
Representative Image Gold demand in India during the upcoming festive season is likely to remain robust, as the substantial reduction in import duty has made prices appealing, providing comfort to retail consumers and encouraging purchases, industry officials said. Higher demand in the world’s second-largest gold consumer could support a rally in global prices, which hit…
