GJ Town India

  Consumers are now moving towards lightweight jewellery   Colin Shah, Founder and Managing Director of Kama Jewelry view, the recent gold price surge to all-time highs, above ₹1.10 lakh per 10 grams in domestic futures, has been mostly propelled by international reasons like geopolitical tensions, trade turmoil, the effect of American tariffs, and poor labour market indicators in the U.S. that led to the Fed rate reduction. These have added to the appeal of gold as a safe haven asset globally.    Whereas such sharp increases have dampened conventional retail consumption in the near term, we are of the view that festival and wedding season will restore demand in India. Cultural and emotive value means that gold buying remains a priority at auspicious moments. Consumers are now moving towards lightweight jewellery ranging between 14K to 18K on grounds of affordability, and the shift in perception among the young generation towards gold as a prestige value rath...

  An opportunity for buyers to secure investments ahead of festive   At the moment when gold price reached ₹10,000 per gram for 24K, All India Gem and Jewellery Domestic Council (GJC), issued their optimistic note on Monday, 23 April, as gold has become a dearer for any good investment portfolio.   At the juncture, Rajesh Rokde, Chairman-All India Gem and Jewellery Domestic Council (GJC) said, Gold prices in Mumbai are soaring, with 24K gold at ₹10,000 per gram and 22K gold at ₹9,290 per gram. Predictions for gold to reach $4000 globally highlight sustained demand driven by investment buying and government interest.  Temporary corrections and profit booking have occurred but haven’t slowed the bullish momentum. India’s gold imports climbed to 802 tonnes in 2024 from 741 tonnes in 2023, reflecting strong market activity despite occasional dips. Jewellers are enticing customers with attractive offers, especially during the wedding season and ahead of Akshaya Tr...

Resilient physical gold demand played a major role in rally   At the juncture of festive season, Colin Shah, MD, Kama Jewelry share Gold Outlook for the remainder of 2024! He said, Gold witnessed a decent rally since the beginning of this calendar year. The price of yellow metal witnessed an upside in the domestic market especially after the outbreak of the geo-political tensions in the Middle East, triggering volatility in prices around the mid-year.    However, the prices saw some correction soon after the announcement of the customs duty cut in the union budget wherein the prices saw a drop of ~5% and the momentum soon gathered pace after this upside where prices hovered near a new all-time high range.     The factors that played a major role in this rally is strong official sector buying coupled with resilient physical demand which provided structural support that lifted gold’s trading range and also has the potential to continue till the rest o...