Representative Image The demand for gold is expected to primarily revolve around the festive period, which kicks off in August-September, said Kavita Chacko, research head of India of the World Gold Council (WGC). Jewellery demand will likely remain subdued following the recent festive period, with purchases largely confined to weddings Meanwhile, bar and coin demand…
Gold price outlook: The current circumstances appear to be ideal for gold, and overlooking its appeal could be a costly mistake for investors seeking to safeguard their wealth.Central banks in emerging markets are accumulating gold reserves as tensions persist in West Asia, enhancing the metal’s status as a reliable store of value. Additionally, the near…
New Delhi: Jewellery retailer Senco Gold saw its quarter-on-quarter net profit fall to Rs 32 crore in Q4FY24 against Rs 109.3 crore in Q3, regulatory filings showed. In sales terms, Senco’s Q4 revenue from operations stood at Rs 1,137 crore, while in the December quarter, the company reported an income of Rs 1,652 crore. However,…
REPRESENTATIVE IMAGE ONLY Families that flock to textile showrooms to purchase Kancheepuram silk saris for weddings are feeling the heat as renowned saris have become more expensive. Prices of gold have been soaring, straining the budgets of those looking to get married even further. Over the past eight months, the price of Kancheepuram silk saris…
A CRISIL Ratings analysis of 54 gold jewellery retailers, which account for 32% of the organised jewellery sector revenue released today says that organised gold jewellery retailers are set to clock 17-19% on-year revenue growth in fiscal 2025, driven by higher realisations stemming from elevated gold prices, while volume will remain steady. Retailers are likely…
9-carat gold to be hallmarked soon? The gold trade has requested the Bureau of Indian Standards (BIS) to implement hallmarking and Hallmarking Unique Identification (HUID) numbers for 9-carat gold jewelry. This move comes as the prices of gold and silver have reached record highs, making them unaffordable for many consumers. At present, only 14, 18,…
Gold prices climbed to a record high on Monday after U.S. economic data last week cemented bets that the Federal Reserve could cut interest rates twice this year. FUNDAMENTALS * Spot gold was up 0.6% at $2,430.19 per ounce, as of 0118 GMT. Bullion hit a record high of 2,440.49 earlier in the session. *…
The export of plain gold jewellery continues to soar, marking a significant 27.45% increase, reaching USD 342.27 million in April 2024, compared to USD 268.56 million in the same month the previous year. The overall exports of gems and jewellery declined 11.37% to USD 2074.85 million in April 2024, as compared to the same period…
Silver bull run: Silver prices experienced a significant surge on Thursday, reaching an unprecedented high of nearly Rs 90,000 per kilogram. This increase was driven by the growing industrial applications of the precious metal, coupled with the increasing likelihood of the US Federal Reserve implementing a policy rate reduction in the near future.In a single…
Kolkata: Lightweight jewellery, along with gold and silver coins, accounted for the bulk of the demand on Akshaya Tritiya this year, according to industry executives, as gold prices hovered about 20% higher year-on-year for the day that is considered auspicious to buy gold. Market leader Tanishq said it expects up to 20% year-on-year increase in…
