Representative image A Rs 14,000 per 10 gm increase in its price this Dussehra compared with a year earlier has brought down the consumption of gold in India by 10% in volume terms, two national jewellery associations said. Also, consumers preferred buying jewellery this year compared with last year when gold coins and bars were…
Representative image New Delhi: The jewellery market in India is witnessing a shift in buying trends, with a broader range of customers driving demand in the second quarter of 2024. As per Nuvama report, while affluent buyers led purchases in the first quarter, the second quarter has seen a rise in lower-priced jewellery items. Semi-urban…
Mumbai: The overall gem and jewellery exports witnessed a 23.28 per cent year-on-year decline in July to USD 1,665.4 million on account of dampening of consumer demand following global unrest, Gem and Jewellery Export Promotion Council (GJEPC) has said. According to data released by GJEPC — the apex body for the gems and jewellery industry…
Gold demand in India fell up to 15% year-on-year in the April-June quarter, with consumers shying away from the precious metal as prices escalated. With very few wedding dates in July, demand for gold jewellery has not picked up this month either, although some jewellers said certain markets saw sporadic sales increases due to the…
Indian gold demand stayed subdued due to elevated prices, with buyers delaying purchases in anticipation of a potential import duty cut in the forthcoming budget. Meanwhile, demand in China also saw a decline. Prime Minister Narendra Modi’s government is expected to present India’s budget in July. “Expecting an import duty cut in the budget, some…
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…
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,…
Physical gold demand in India remained subdued this week despite a slight correction in prices as buyers awaited an even bigger drop, while Chinese premiums slipped for the second straight week due to sluggish holiday demand. In India, the world’s second-largest gold consumer and a major importer, domestic prices fell to around 70,500 rupees per…
Indian diamond jewellery market will grow to US$ 17 bn by 2031 out of India’s total gem & jewellery of US$ 120 bn from $ 79 bn in 2021. 2024 is likely to be a record year for gold mine production and jewellery demand will be firm but vulnerable to gold prices. This was revealed…
Elevated prices, fewer weddings and election-related restrictions will likely impact consumer demand of gold, according to World Gold Council (WGC). However, any price stability ahead of Akshaya Tritiya could provide some respite, said Kavita Chacko – Research Head, India of WGC. At the same time, gold’s continued strong performance this year could encourage investment demand,…
