(Representative Image) Jewellery chain Senco Gold is looking at 15-20 per cent growth in revenue and profit in the current fiscal, despite rising prices of the yellow metal and global uncertainties. The jeweller is also planning to add 15-20 stores in the current 2024-25 financial year (FY’25), of which around 50 per cent will be…
The Directorate General of Foreign (DGFT) has put on hold its recent decision on changes in maximum permissible wastage norms for gold, platinum, and silver content in jewellery exports, according to a media release issued by Gem & Jewellery Export Promotion Council (GJEPC) on Tuesday. In a virtual meeting on 28th May GJEPC urged DGFT…
Spot gold tested a new lifetime high last week due to a combination of factors that have converged to propel the demand for the yellow metal. Multiple catalysts like US rate cut speculation, China’s economic stimulus, and renewed geopolitical tensions attributed to the rise in prices. Prices on the London spot market surged near to…
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…
India‘s gold imports in 2024 could fall by nearly a fifth from the previous year, as record high prices spur retail consumers to exchange old jewellery for new items, the head of an industry body told Reuters. Lower imports by India, the world’s second biggest consumer of the precious metal, could cap a rally that…
This Akshaya Tritiya, expectations of jewellers are high due to a marginal dip in gold prices compared to last month. In April, sales volume decreased by around 20 per cent, although there was an increase in gold consumption in value terms due to escalating gold prices. The jewellery retailers are expecting Akshaya Tritiya to boost…
BEIJING: China‘s gold consumption in the first quarter of 2024 climbed by 5.94% from a year earlier on soaring safe-haven demand, the country’s Gold Association said on Friday. Bullion consumption in the world’s largest consumer totalled 308.905 metric tons in the first three months of the year. Purchase of gold bars and coins jumped 26.77%…
The Reserve Bank of India (RBI) has increased its gold purchases to enhance the diversity of its foreign exchange reserves amid fluctuations in the US dollar. The surge in the value of outstanding gold reserves accounted for more than 80% of the nearly $3-billion rise in forex reserves, which reached a record $648.5 billion as…
Representative image Mumbai: Gold prices will skyrocket further in June, when the US Fed brings about a rate cut, Gold Jewellery Council (GJC) has forecast. While the yellow metal reached an all-time high on Monday and fluctuated on Tuesday to close a few points lower, GJC, which opened its jewellery show on Tuesday, said customers…
