Mr Colin Shah, MD, Kama Jewelry
“RBI keeping policy rates intact is at par with the industry expectations. This pause amidst the onset of festive season will give a much-needed boost to consumer buying sentiment, thereby propelling demand. The expansion recorded in urban consumption will further foster velocity in jewellery sales in Indian markets. Additionally, increasing limit for gold loans from Rs 2 Lakh to Rs 4 Lakh in respect of urban cooperative banks will prove to be beneficial for buyers during the upcoming wedding season.
The core inflation trajectory is projected to ease further during the year, resonating a gradual but steady rise in purchasing power of the masses. This sentiment towards the yellow metal will further will be guided by the inflation trajectory, system liquidity and movement in the economic activities in the West. Overall, we expect to witness a sustainable growth in exports as the journey to the targeted 4% inflation rate unfolds.
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