Leading jewelry retail chains, including Reliance Retail, also reduce demand.
It has promoted the Global Trade Association for Gold Industry WGC, which promotes the launch of India’s 2025 projections to improve downwards by 600-700 tonnes to demand for gold-which is from the previous 700-750 tonnes.
In many countries, gold prices have been very unstable due to a number of factors, including US President Donald Trump’s tariff imposing, with metal crossing Rs 1 lakh for 10 grams for the first time on April 22. It then came down in the April-June period, but from 90,000 to Rs. 1 lakh lived in brackets.
Dinesh Taluja, chief financial officer of India’s largest retailer Reliance Retail, recently told analysts that a significant increase in gold prices could increase bill values (for its jewelry business), but the number of bills has decreased.
Living events
“The business is steadily growing, but apparently the price of gold is being affected,” he said. In terms of volume, the demand for gold has fallen (April-June).
To ensure that gold prices increase, according to the WGC, increased by 30% in the year-by-year year of gold sold in the June quarter to Rs. 1,21,800 crore. Demand reductions also reduced gold imports by 34% annually to 102.5 tonnes.
Suvankar Sen, managing director of stock market-listed jewelery chain Sanko Gold Limited, said the reduction in demand for gold on volume terms for the company in April to June corresponds to the WGC’s report. “But at value, it has increased due to gold prices,” he said.
WGC’s regional CEO Sachin Jain said that the demand on the investment front has increased its demand for the price of gold-the 7% increase in the year-by-year volume is 46.1 tonnes. He said, “Such statistics show the strategic commitment of gold eninging gold among consumers as a long -term value store.
According to WGC’s estimated gold price prices, the consumption of jewelery in the country has affected the consumption of jewelery, according to WGC estimates, demand in April-June has dropped 17% to 88.8 tonnes annually. Jain said gold recycling remains elastic with a normal 1% of the year-by-year-year-old up to 23.1 tonnes.
“This stability indicates that even at the record price level, consumers hold their gold, confirming their position as valuable assets. With the demand for gold from January to June, we expect a full year demand between 600 and 700 tonnes,” he said.
On Thursday, gold closed at Rs 98,414 per 10 grams.
(Now you can subscribe to our Etmarkets WhatsApp channel)
