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India has grown into the world's second-largest market for gold jewellery due to its expanding middle class and an escalated market for weddings
gold jewellery
February 2024
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Gold demand surges by volume - and value - in Q3 2023
The gold demand increased by 28% YoY to ₹188,400 crore in Q3 2023; in volume terms, the demand rose by 10% in the July-September period.
High prices slash domestic gold demand 7% in Q2FY23
However, value wise demand rose by 4% to ₹82,530 crore, compared to the ₹79,270 crore sales in Q2 of 2022.
Organised gold jewellery retail sales to grow 23-25% in FY23
The growth is mainly due to increase in sales volumes due to pent-up demand and recovery in discretionary spending post the pandemic, says a study.
Gold jewellery retail volumes may fall 5% in FY23: Crisil
Though higher gold prices will compensate for the volume loss and ensure the industry's revenue remains flat year-on-year, operating margins would be impacted.
Gold import duty hike to raise retail jewellery prices and smuggling
Overall taxes on gold now rise sharply from 14% to around 18.45%.
Gold jewellery demand in India to jump 11% in FY23: ICRA
Driven by the Akshaya Tritiya season, the jewellery industry is expected to witness a 45% year-on-year growth in the first quarter of FY23.
Gold price crashes 15%; is it time to buy yet?
Gold prices have fallen by around 15% from the record-high levels of ₹56,000 seen in August 2020.
Can Kalyan Jewellers’ hyperlocal strategy succeed?
Kalyan Jewellers has managed to get its IPO oversubscribed, and is betting on a strategy that tailors each of its stores according to the location’s cultural values. But there are challenges ahead.
Why jewellers still prefer cash deals
Many believe cash deals up to ₹2 lakh without KYC leaves a loophole for jewellers and bullion dealers to exploit.
