Mr. Colin Shah, MD, Kama Jewelry
“Gold prices have rallied for two consecutive years (2021 and 2022). Additionally, the Indian government hiked the import duty on gold in July 2022. This further led to a rise in gold prices. Gold demand in the domestic market saw a sharp decline in the first quarter of CY23 as record high prices of gold in the Indian market made consumers apprehensive about investing in gold and purchasing jewelry during the quarter.
The 18k jewelry category continued to gain popularity due to the higher prices of 24k gold. On a standalone basis, the gold demand was robust but comparatively lower than last year’s record demand. The government’s policy to hallmark gold jewelry with a 6-digit alpha-numeric code will boost the recycling of old jewelry. The demand for gold is likely to remain stable in the coming quarter. A normal monsoon year will boost rural demand across India. The festive and the marriage season in H2CY23 will witness positive consumer sentiment. On the institutional front, central banks including the RBI and ETFs will likely pile on gold as signs of a recession in the US get more evident.”
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Congratulations to Hari Krishna Group on completing 34 years of excellence, innovation, and meaningful impact. Wishing the entire team continued success and many more milestones ahead! 💐✨
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On its 34th anniversary, Hari Krishna Group hosted Master Your Health at Nehru Centre, Worli, Mumbai, where Mr. Atul Shah, Founder of Ojas Life, shared insights on holistic wellness and preventive healthcare
#harikrishnaexports #hkdiamonds #kisnadiamondjewellery #hzinternational
On its 34th anniversary, Hari Krishna Group hosted Master Your Health at Nehru Centre, Worli, Mumbai, where Mr. Atul Shah, Founder of Ojas Life, shared insights on holistic wellness and preventive healthcare
#harikrishnaexports #hkdiamonds #kisnadiamondjewellery #hzinternational
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.
