GJ Town India

  A young customer and generate incremental demand!   According to the World Platinum Investment Council (WPIC), global jewellery demand is expected to rise by 5% (+102 koz) year-on-year to 1,951 koz in 2024. Steady results for Europe in Q4 should bring about a 3% rise for the full year. The mass market and bridal sector have underperformed, due to such drivers as the slower uptake of lab grown diamonds than in the US, but the top end remains robust.    This might surprise given talk of weakness in China hitting the luxury brands, but it is the entry level ones that have suffered, with the very top (where platinum is more prevalent) proving resilient. North America is expected to see slightly stronger growth in quarter four as the above positive factors remain in play and as some  are expecting the start of an uptick in the engagement market.    Destocking is also no longer a negative, but the election cast a cloud over October sales. As ...

Despite record-high prices demand only falling 2%!   The World Gold Council (WGC)’s Q1 2024 Gold Demand Trends report reveals that total global gold demand (inclusive of OTC purchases) was up 3% year-on-year (YoY) to 1,238t, marking the strongest first quarter since 2016. Demand excluding OTC fell 5% to 1,102t in Q1 compared to the same period in 2023.   Healthy investment from the OTC market 1 , persistent central bank buying, and higher demand from Asian buyers, helped drive the gold price to a record quarterly average of US$2,070/oz—10% higher year-on-year and 5% higher quarter-on-quarter. Central banks continued to buy gold apace, adding 290t to official global holdings during the quarter.   Consistent and substantial purchases by the official sector highlight gold's importance in international reserve portfolios amidst market volatility and increased risk. Turning to investment demand, bar and coin investment increased 3% year-on-year, remaining steady at the ...