GJ Town India

Notable in Q1 remained a lack of gold sales   Q1 gold demand (excluding OTC demand) slipped 5% y/y to 1,102t, due to continued ETF outflows. Inclusive of sizable OTC buying by investors, total gold demand increased 3% y/y to 1,238t – the strongest first quarter since 2016. Q1 saw no let-up in the pace of central bank gold buying: 290t (net) was added to official holdings, only part of which is currently reflected in IMF data. Bar and coin demand matched the previous quarter at 312t, translating to a 3% y/y increase. Global gold ETF holdings fell by 114t. Europe and North America both saw quarterly outflows, slightly countered by inflows into Asian-listed products. US listed funds saw a positive shift late in the quarter. The jewellery sector was healthy, given the price rally.    Global jewellery consumption was just 2% lower y/y at 479t. Jewellery fabrication grew by 1% y/y to 535, resulting in inventory build of 56t during the quarter. Technology demand for gold recov...

Embrace storytelling, symbolism & creative narratives to sell Make in India, Design in India-Create in India designer jewellery to the world   Part 2: In the session on Global & India Gold Demand Trends, Kavita Chacko, the Research Head for India at the World Gold Council (WGC), said, "2024 is likely to be a record year for mine production of gold; Jewellery demand in 2024 will be firm but vulnerable to gold prices.   Bar and coin investment likely to remain healthy, with high prices and geopolitics attracting attention. Central banks are likely to keep buying gold at an impressive rate. Global annual jewellery demand held steady in 2023 at around 2200 tonnes even in a very high price environment.    In 2023 Gold has benefitted from a) Highlighted geo-political risk; b) Consumer demand; and c) Central bank buying. Annual Gold demand in 2023 rose 4%, reaching an all-time high of 4,930 tonnes. Contribution of 2 sectors a) jewellery demand and b) central ...

Forty Under 40 Leadership to lure GenZ customers    Part 1: Indian diamond jewellery market will grow to US$ 17 bn by 2031 out of India's total gem & jewellery market of US$ 120 bn from $ 79 bn in 2021. 2024 is likely to be a record year for gold mine production and jewellery demand will be firm but vulnerable to gold prices.   These interesting nuggets were revealed through several compelling sessions at InnovNXT, Forty Under 40, a next generation leadership Summit, an IIJS Initiative organized by the GJEPC (the apex body for gem and jewellery trade in India).   The art of storytelling, symbolism & creative narratives in designer jewellery creations is a must learn for jewellers to take consumers away from price and value towards, priceless and invaluable. Jewellery trade can embrace customer-centric digital to achieve rapid scale and deeper penetration.    Jewellers can tap WhatsApp’s potential for growing, engaging, retaining, and monet...

Vision of refining openness in the gold market for the end-users   Augmont Gold For All, a Gold Platform, announces its collaboration with renowned jewellery brand CaratLane to enable ease of gold investment for probable customers. This partnership is a step towards Augmont’s vision of revolutionising how customers engage with gold investments.   Augmont Gold For All spans the entire gold lifecycle, giving retail customers a one-stop-shop solution. It simplifies gold deposits, financing, and EMI gold and silver purchases. Augmont's digital gold is available in various denominations starting at Rs 1. Augmont has always been committed to innovation, and its belief in customer-centric products has brought collaborations with the best of industry brands.   The brand Caratlane shares Augmont’s vision of improving accessibility and convenience in the gold market for the end-users. Through this strategic association, Augmont Gold For All aims to offer something special to...

Gold Demand in market India grew by 8% in Q1 2023   Sachin Jain, Regional CEO, India, World Gold Council said, In Q1’24, India's total gold demand was 136.7 tonnes, up by 8% in comparison to 126.3 tonnes in Q1 2023 reaffirming Indians enduring relationship with gold. Gold jewellery demand was 95 tonnes, 4% above the comparatively weak Q1’23.    India’s continued strong macroeconomic environment was supportive for gold jewellery consumption even though prices reached a historic high in March leading to a slowdown in sales as the quarter ended.    Q1’24 also saw healthy levels of gold bar and coin demand in India, up 19% y/y at 41t. This was on a par with  Q1’22, which was itself the strongest first quarter since 2014. The price correction in February sparked investors’ interest, with anticipation of a rebound driving purchases.    As the price rallied to successive record highs, investors remained bullish, contributing to the robust demand....

Kisna expand footprint across India, offering consumers elegance   Kisna Diamond & Gold Jewellery, a leading name in the Indian jewellery industry, proudly announces the grand inauguration of its 2nd exclusive showroom in Alambagh, Lucknow. This launch marks Kisna’s 7th exclusive showroom in Uttar Pradesh, marking a significant milestone as the brand's 25th showroom in India.   Situated at the prime location, Alambagh, Lucknow, this momentous occasion celebrates Kisna's unwavering commitment to excellence and innovation in the world of luxury jewellery. The event was honoured by Ghanshyam Dholakia, Founder & M.D, Hari Krishna Group along with Parag Shah, Director-Kisna Diamond & Gold Jewellery.   The opening of Kisna's 25th showroom highlights a new era of glory and sophistication in the Indian jewellery landscape. With each showroom crafted to offer a unique blend of tradition and modernity, Kisna continues to set the benchmark for luxury, captivating c...

Jacqui Larsson to take charge effective immediately!   The UK-based laser technology specialist has made the senior appointment to bolster its international growth and develop the company’s roster of high-profile clients.   Leading diamond and gemstone security and traceability specialist, Opsydia, has announced the appointment of Jacqui Larsson to the position of Sales and Marketing Director, effective immediately.   As a London Diamond Bourse Council Member and a Fellow of the Gemmological Association of Great Britain (Gem-A), Larsson brings to Opsydia nearly two decades of experience in the diamond, gemstone and jewellery industries. Most recently, she has specialised in bespoke jewellery production, sustainable sourcing and traceable supply chains through her eponymous company, Jacqui Larsson Fine Jewellery.   Prior to joining the trade, Larsson qualified as a chartered accountant and worked in Australia, Hong Kong, and the United Kingdom for an internati...