Strong buying interest from jewellery retailers!
Import duty reduction in India, a catalyst for demand! Recently Kavita Chacko, Research Head, India- World Gold Council wrote about India’s gold market update: Import duty reduction, a catalyst for demand! The significant cut in import duty on gold and the resultant decline in the landed cost of gold have been a shot in the arm for gold demand in the country. Anecdotal reports suggest that there has been strong buying interest from jewellery retailers as well as consumers since the duty reduction. At the recently concluded India International Jewellery Show, manufacturers noted that there has been a substantial increase in order bookings from retailers, who are preparing for the festive and wedding season running through December. In some cases, these orders have reached levels not seen in several years. Additionally, the trend of bar and coin buying remains strong, supported by consumers as well as jewellers who are capitalising on supportive gold prices to stock up for fut