Perspective by Mr. Colin Shah, MD, Kama Jewelry on weekly gold price trends
“The downward spiral in gold prices continued but the fall was marginal prices were lower by 0.02% a slight decrease from the previous week. However, the dip was considerably better than the 1% drop from the week prior.
On the other hand Gold prices rose to Rs 59543.00/ 10 gms in the domestic market. Internationally, gold continues to trade at $1,968.30 per ounce.
A minor pullback in the currency rate of the US dollar has led to some optimism amongst Gold buyers.
In the domestic market, there seems to be a bit of a worry with regard to data projecting a fall this fiscal year in exportation by approximately 10 – 15% this fiscal year. However, with the onset of coming festivities, there seems to be optimism in the rise of purchases towards the end of H2 2023.”
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
