GJ Town India

  Global jewellery demand faces a subdued outlook in 2025     Recently World Gold Council analysed jewellery demand in the recently published Gold Demand Trends for 2Q 2025. Jewellery retailers in China are likely to face an equally glum H2. One silver lining perhaps is that platinum is unlikely to offer much of a challenge, given the sensitivity to its strong price rise.    Another is that high savings rates might offer some capacity to buy in H2, but probably needs stimulus and a brighter outlook for 2026 and beyond. In India, the economy is still vibrant but is expected to soften a little in H2. Combined with high prices, jewellery demand will likely remain subdued as consumers are anecdotally adapting less quickly to high prices than they have historically.    This theme is likely echoed in other regions. Flat or lower prices won't elicit the same response one might see in an environment where disposable income is solid. Thus, our expec...

  The value of gold demand during 2024 increased by 22%   Sachin Jain, Regional CEO, India, World Gold Council said, in 2024, India's total gold demand was 802.8 tonnes in 2024, a 5% increase from 761 tonnes in 2023. This was facilitated by multiple record-high gold prices, a reduction in import duty, investment demand, and purchases related to weddings and festivals.   The total jewellery demand, in terms of volume, decreased by 2% to 563.4 tonnes in 2024 from 575.8 tonnes in 2023, despite the gold price reaching multiple record highs. This indicates the resilience of gold jewellery demand in India and highlights the effect of the duty cut in July as well as India's stronger economic growth compared to many other markets.   Many consumers purchased gold jewellery in late Q3 when the duty cut mitigated much of the recent price increase. Nonetheless, the value of gold demand during 2024 increased by 22%, illustrating the ongoing demand for gold.  Tota...