Gold demand to slow down temporarily: WGC

Demand for gold in India is likely to slow down in the second quarter (April-June) due to COVID-related restrictions, before rebounding in the second half of 2021, according to the World Gold Council (WGC). Gold investment demand has already fallen in the first quarter of this calendar year (Jan-March) on hefty outflows in gold-backed exchange-traded […]

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India’s gems, jewellery exports fell by nearly 26% in fiscal 2020-21: GJEPC

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The overall gems and jewellery exports declined by 25.71 per cent to Rs 1,85,952.34 crore during 2020-21 compared to the previous financial year on account of COVID-related disruptions, industry body GJEPC said. “2020-2021 was an exceptional year, yet the industry has shown resilience, adapted to the new normal and strived towards attaining recovery in exports […]

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Hallmarking of gold artefacts and jewellery to be mandatory from June 1, 2021

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The Indian government is determined to implement compulsory hallmarking of gold jewellery and artefacts from June 1, amid rumours that the scheme’s rollout could be delayed. Hallmarking for gold jewellery started in April 2000 as a voluntary scheme. Around 40 per cent of gold jewellery sold in the country is being hallmarked at present. “No […]

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Lustre back in Asia’s gold jewellery penchant as investors exit

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Asian physical gold buying has picked up sharply with prices falling to around an eight-month low, sparked partly by an exodus of investors from paper gold. The price of gold has dropped by 6% to $1,733/troy ounce from $1,838/ounce in early February, while the slide is even more pronounced compared to the record high of $2,067/troy ounce […]

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World Gold Council bullish on retail jewellers; says significant audience to be captured in India

In its latest retail trends report, the World God Council (WGC) has said India’s cultural identity is greatly intertwined with gold. Nearly 60 per cent of Indian women own gold jewellery and 37 per cent of them have not bought gold jewellery in the past but are open to buying it in the future, according to the World Gold Council’s (WGC’s) […]

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