GJ Town India

  The gold jewellery market gears up for the festive at latch!    Kavita Chacko, Research Head, India-World Gold Council [WGC] gaze the festive sentiment in India. She said, Signs of demand revival are emerging as the gold jewellery market gears up for the upcoming festive and wedding season (from early August to year-end). Anecdotal reports from industry stakeholders suggest a positive outlook. This optimism was evident at the recent India International Jewellery Show (IIJS), the country’s largest jewellery trade fair. [Reader’s Note: IIJS is the 2 nd largest global gem & jewellery show.]    As per anecdotal reports from the event, many manufacturers reported stronger-than-expected buying interest and a noticeable pickup in orders from both large chain stores and independent retailers. Retailers who had been cautious about their inventories in recent months due to lacklustre demand reported active restocking in anticipation of improved festive sales. And g...

  Waiting to give gold a breakout or breakdown    Dr. Renisha Chainani, Head- Research, Augmont - Gold for all; said in a weekly [1 to 4 July] that, as the U.S. labour market continues to be strong and the economy created more jobs than anticipated last month, the price of gold has dropped below $3320 (~Rs 96500), fighting to regain its footing.    Last week, gold got off to a strong start and saw three days of gains before stalling when it became apparent that the US Federal Reserve was unlikely to lower interest rates anytime soon. Headlines about the US trade talks may influence Gold's movement in the near future if there are no important macroeconomic data releases. US President Donald Trump wrote a handwritten letter to Federal Reserve Chairman Jerome Powell requesting that he cut interest rates, White House press secretary Karoline Leavitt said. Trump, she added, thinks interest rates ought to be cut to around 1%.    However, Fed Chairman...