India’s Q2 Gold Jewellery Demand Declines Amid High Prices – Solitaire International Magazine – India’s leading B2B gem and jewellery magazine
India has witnessed a notable decrease in gold jewellery demand in the second quarter of 2024, according to the World Gold Council (WGC). India’s Q2 gold jewellery demand fell by 17% to 106.5 tonnes, down from 128.6 tonnes in Q2 2023. This decline is attributed to record-high gold prices, which have impacted affordability and slowed consumer purchases.
Despite the drop in volume, the value of jewellery demand remained relatively stable at Rs. 66,810 crores, a slight decrease from Rs. 67,120 crores in the same period last year. The high gold prices, exacerbated by local market factors, have posed challenges for consumers, especially during the key festive seasons of Akshaya Tritiya and Gudi Padwa, which typically boost sales.
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02-Aug-2024 03:39 pm
User Website : https://gjepc.org/solitaire/indias-q2-gold-jewellery-demand-declines-amid-high-prices/
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