Gold demand in India remained sluggish this week because of record high prices and as jewellers were busy closing accounts for the financial year, while most other Asian hubs also saw waning buying interest. “Jewellers were not making purchases,” said Harshad Ajmera of wholesaler JJ Gold House in Kolkata. India’s financial year runs from April…
As gold prices jump to successive highs, jewellers across Asia and the Middle East are grappling with displays losing their sparkle as customers race to cash in their old jewellery and coins. If the rush to sell continues, it could ultimately lead to lower imports into major markets, potentially tempering gold’s rally, retailers and industry…
Kolkata: Gold crossed the ₹85,000 mark for the first time on Monday in the physical market as safe-haven demand for the metal surged on fears of a global trade war after US President Donald Trump announced new tariff plans. The precious metal was trading at ₹85,665 per 10 gm, up from ₹84, 699 per 10…
Data from the India Bullion and Jewellers Association (IBJA) showed 24-carat gold closed at Rs 80,194 per 10 gms. (AI image) Gold prices surpassed Rs 80,000/10 gm for the first time on Wednesday, according to data from a leading industry organisation, reflecting increased safe-haven demand from investors concerned about potential market volatility following an anticipated…
Kolkata: Gold markets are buzzing again after a lull during the month-long inauspicious Kharmash period, with consumers rushing to buy the yellow metal amid rising international prices and speculation that the upcoming union budget may reverse last year’s import duty cut. There is also speculation that international gold prices may rise further following Donald Trump’s…
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…
