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Business Mayor
24-05-2025
- Business
- Business Mayor
Gold jewellery sales in India remain subdued amid high prices and economic uncertainty
Gold jewellery sales in India during April and early May remained subdued, except on the day of Akshaya Tritiya, due to high and volatile gold prices coupled with broader economic uncertainties, according to a World Gold Council (WGC) report. Anecdotal evidence suggests that consumers were deferring their purchases, waiting for price stability, or opting for lighter-weight jewellery to accommodate fixed budgets and need-based buying, WGC said. Gold's momentum accelerated in April, surging to a record high of US$3,500/oz and marking its fourth consecutive month of gains, with a 6% increase. The speed and sharp rise were fuelled by a weakening US dollar, heightened geopolitical and economic uncertainties, and strong inflows into global gold ETFs. However, prices have since retreated, with the LBMA Gold PM price falling 8% so far in May. In India, domestic gold prices mirrored the global trend. Although the May m-t-d correction was milder at 5%, cushioned by the appreciation of the Indian rupee WGC said that stability in gold prices could prompt a resurgence in demand. Consumer sentiment that the downside to gold prices is limited would reinforce gold's appeal as a reliable investment. So far in 2025, the LBMA gold price PM in USD has climbed by US$583/oz or 22%, to US$3,192/oz. The Indian domestic spot gold prices have also followed a similar trajectory, rising 23% y-t-d to Rs 93,407/10g. Despite the recent decline, gold outshines other major asset classes on a year-to-date basis Read More Calpak: Travel Bags Made For The Long-Haul Every Day & Far Away The festival of Akshaya Tritiya, which traditionally drives gold purchases, fell on 30 April this year. Overall demand during the festival was restrained and mixed as per market reports. While large and corporate retailers reported higher footfalls and sales – largely driven by aggressive promotional and marketing campaigns – small and independent jewellers experienced sharp declines in demand. The bullion segment, bars and coins, performed better than jewellery, with low weight coins (especially 5g) proving popular. These were bought as 'token' purchases for the festival, with a notable share of sales occurring through online and e-commerce platforms. This behaviour highlights a growing consumer shift towards organised players and investment-oriented gold products, WGC said. Regional trends also varied. The southern states recorded stronger sales compared to the other parts of the country, given the greater significance of Akshaya Tritiya in the region. A moderate performance followed this in the western parts of the country. Despite a likely year-on-year decline in the volume of gold sold during Akshay Tritiya, the overall value of sales is expected to have increased, reflecting the nearly 30% rise in gold prices since last year. This indicates a degree of resilience in Indian gold demand. Additionally, the exchange and recycling of old gold jewellery remained a prominent trend.
Time of India
24-05-2025
- Business
- Time of India
Gold jewellery sales in India remain subdued amid high prices and economic uncertainty
Gold jewellery sales in India during April and early May remained subdued, except on the day of Akshaya Tritiya, due to high and volatile gold prices coupled with broader economic uncertainties, according to a World Gold Council (WGC) report. Anecdotal evidence suggests that consumers were deferring their purchases, waiting for price stability, or opting for lighter-weight jewellery to accommodate fixed budgets and need-based buying, WGC said. Gold's momentum accelerated in April, surging to a record high of US$3,500/oz and marking its fourth consecutive month of gains, with a 6% increase. The speed and sharp rise were fuelled by a weakening US dollar, heightened geopolitical and economic uncertainties, and strong inflows into global gold ETFs. However, prices have since retreated, with the LBMA Gold PM price falling 8% so far in May. In India, domestic gold prices mirrored the global trend. Although the May m-t-d correction was milder at 5%, cushioned by the appreciation of the Indian rupee WGC said that stability in gold prices could prompt a resurgence in demand. Consumer sentiment that the downside to gold prices is limited would reinforce gold's appeal as a reliable investment. So far in 2025, the LBMA gold price PM in USD has climbed by US$583/oz or 22%, to US$3,192/oz. The Indian domestic spot gold prices have also followed a similar trajectory, rising 23% y-t-d to Rs 93,407/10g. Despite the recent decline, gold outshines other major asset classes on a year-to-date basis The festival of Akshaya Tritiya, which traditionally drives gold purchases, fell on 30 April this year. Overall demand during the festival was restrained and mixed as per market reports. While large and corporate retailers reported higher footfalls and sales – largely driven by aggressive promotional and marketing campaigns - small and independent jewellers experienced sharp declines in demand. The bullion segment, bars and coins, performed better than jewellery, with low weight coins (especially 5g) proving popular. These were bought as 'token' purchases for the festival, with a notable share of sales occurring through online and e-commerce platforms. This behaviour highlights a growing consumer shift towards organised players and investment-oriented gold products, WGC said. Regional trends also varied. The southern states recorded stronger sales compared to the other parts of the country, given the greater significance of Akshaya Tritiya in the region. A moderate performance followed this in the western parts of the country. Despite a likely year-on-year decline in the volume of gold sold during Akshay Tritiya, the overall value of sales is expected to have increased, reflecting the nearly 30% rise in gold prices since last year. This indicates a degree of resilience in Indian gold demand. Additionally, the exchange and recycling of old gold jewellery remained a prominent trend.
Time of India
24-05-2025
- Business
- Time of India
Gold jewellery sales in India remain subdued amid high prices and economic uncertainty
Gold jewellery sales in India during April and early May remained subdued, except on the day of Akshaya Tritiya, due to high and volatile gold prices coupled with broader economic uncertainties, according to a World Gold Council (WGC) report. Anecdotal evidence suggests that consumers were deferring their purchases, waiting for price stability, or opting for lighter-weight jewellery to accommodate fixed budgets and need-based buying, WGC said. Gold's momentum accelerated in April, surging to a record high of US$3,500/oz and marking its fourth consecutive month of gains, with a 6% increase. The speed and sharp rise were fuelled by a weakening US dollar, heightened geopolitical and economic uncertainties, and strong inflows into global gold ETFs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thanh Pho Ho Chi Minh: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo However, prices have since retreated, with the LBMA Gold PM price falling 8% so far in May. In India, domestic gold prices mirrored the global trend. Although the May m-t-d correction was milder at 5%, cushioned by the appreciation of the Indian rupee WGC said that stability in gold prices could prompt a resurgence in demand. Consumer sentiment that the downside to gold prices is limited would reinforce gold's appeal as a reliable investment. Live Events So far in 2025, the LBMA gold price PM in USD has climbed by US$583/oz or 22%, to US$3,192/oz. The Indian domestic spot gold prices have also followed a similar trajectory, rising 23% y-t-d to Rs 93,407/10g. Despite the recent decline, gold outshines other major asset classes on a year-to-date basis The festival of Akshaya Tritiya, which traditionally drives gold purchases, fell on 30 April this year. Overall demand during the festival was restrained and mixed as per market reports. While large and corporate retailers reported higher footfalls and sales – largely driven by aggressive promotional and marketing campaigns - small and independent jewellers experienced sharp declines in demand. The bullion segment, bars and coins, performed better than jewellery, with low weight coins (especially 5g) proving popular. These were bought as 'token' purchases for the festival, with a notable share of sales occurring through online and e-commerce platforms. This behaviour highlights a growing consumer shift towards organised players and investment-oriented gold products, WGC said. Regional trends also varied. The southern states recorded stronger sales compared to the other parts of the country, given the greater significance of Akshaya Tritiya in the region. A moderate performance followed this in the western parts of the country. Despite a likely year-on-year decline in the volume of gold sold during Akshay Tritiya, the overall value of sales is expected to have increased, reflecting the nearly 30% rise in gold prices since last year. This indicates a degree of resilience in Indian gold demand. Additionally, the exchange and recycling of old gold jewellery remained a prominent trend.
Time Business News
23-05-2025
- Business
- Time Business News
Understanding Gold Prices in the Middle East: What Buyers
Gold has always been an essential part of Middle Eastern culture, wealth preservation, and investment strategy. Whether in the form of jewelry, coins, or bullion, gold is widely purchased across the region for both personal and financial reasons. But understanding the dynamics of gold prices in the Middle East is critical for anyone looking to buy, sell, or invest wisely. In this article, we'll explore the key factors influencing gold prices in countries like the UAE and Qatar, how they compare globally, and how tools like أسعار الذهب في الإمارات and gold rate in Qatar help buyers stay informed. Gold holds cultural, religious, and economic significance in the Middle East. It is traditionally gifted at weddings, used in dowries, and held as a form of emergency wealth. Moreover, many residents view gold as a hedge against inflation and economic instability. Due to its long-standing value and liquidity, gold continues to be one of the most trusted investments in the region. However, prices are subject to daily fluctuations influenced by both local and global factors. The primary influence on gold prices in the Middle East is the global gold market. Gold is traded in U.S. dollars, and international benchmarks such as the London Bullion Market Association (LBMA) rates often serve as the baseline. Middle Eastern countries adjust their gold rates based on these international movements. When global gold prices rise, so do local prices in the UAE, Qatar, and other Gulf states. Since gold is globally priced in dollars, currency fluctuations directly impact local gold prices. For example, if the Qatari Riyal weakens against the U.S. dollar, the gold rate in qatar may increase, even if international gold prices remain stable. Similarly, the UAE dirham is pegged to the dollar, which helps maintain relative price consistency, but small shifts in international demand can still cause noticeable changes. Gold demand often spikes during festive seasons like Eid, Diwali, and wedding months. This seasonal buying can drive up prices locally, even when global prices are steady. Retailers in Dubai and Doha may slightly increase margins during these periods due to higher foot traffic, so it's important to monitor local data on أسعار الذهب في الإمارات and gold rate in Qatar before making a purchase. The introduction of value-added tax (VAT) and import duties can affect the final gold price for consumers. In the UAE, a 5% VAT is applicable, although buyers can sometimes reclaim part of it under the tourist refund scheme. Qatar currently does not levy VAT on gold, making it attractive for retail buyers. Both countries have strict quality control laws, ensuring that buyers get certified and hallmarked gold, often with fair pricing based on real-time data. Real-time pricing is essential in the fast-moving gold market. That's why informed buyers rely on trustworthy platforms. أسعار الذهب في الإمارات provides daily and hourly updates on gold prices in different karats (24K, 22K, 21K, 18K) across cities like Dubai, Abu Dhabi, and Sharjah. This platform is particularly helpful for tourists and residents planning their purchases. provides daily and hourly updates on gold prices in different karats (24K, 22K, 21K, 18K) across cities like Dubai, Abu Dhabi, and Sharjah. This platform is particularly helpful for tourists and residents planning their purchases. gold rate in qatar gives detailed information on live gold prices in Doha and other Qatari cities. It includes historical charts and analysis that help buyers understand trends and make better decisions. These tools are essential for both casual buyers and serious investors. Although gold prices across the GCC are based on global benchmarks, slight differences can occur due to taxes, supply chains, and market conditions. Criteria UAE Qatar Base Pricing Source Global (LBMA) Global (LBMA) Currency AED (pegged to USD) QAR (pegged to USD) VAT 5% (reclaimable by tourists) No VAT currently Market Type High volume, tourist-heavy Stable domestic demand Trusted Pricing Site أسعار الذهب في الإمارات gold rate in qatar While prices remain similar, tourists in the UAE may find more promotional offers due to higher competition among retailers. Meanwhile, Qatar offers stable pricing and fewer taxes, making it attractive for bulk or long-term purchases. Whether you're a tourist, an expat, or a local resident, the following tips will help you make informed decisions when purchasing gold: Use trusted sources like أسعار الذهب في الإمارات or gold rate in qatar before stepping into any store. Even minor daily price shifts can affect your total cost. 24K is the purest form, but is soft and best for investment. 22K and 21K are ideal for jewelry. Always check the hallmark stamp on the gold piece. Understand the difference between the gold price, making charges, and VAT (if applicable). Reputable sellers will provide full transparency. Prices tend to be lower during off-peak seasons. Avoid major holidays or wedding seasons when making charges and demands are higher. Some retailers offer guaranteed buyback at market rates. This is helpful if you plan to resell your gold in the future. Gold has consistently proven to be a safe haven during times of economic uncertainty. In the Middle East, it offers a dual benefit: cultural acceptance and financial security. By monitoring platforms like gold rate in qatar and أسعار الذهب في الإمارات, investors can track performance over time and enter the market at the right moment. Some investors in the region are also turning to digital gold and exchange-traded funds (ETFs), further expanding the scope of gold as a modern asset class. Gold prices in the Middle East are influenced by a combination of global market trends, local economic policies, and cultural buying patterns. Whether you're buying for adornment, savings, or investment, having real-time, accurate information is key. Reliable sources like أسعار الذهب في الإمارات and gold rate in qatar give you the tools you need to shop smart and invest with confidence. With gold continuing to hold its value across centuries and civilizations, it remains one of the most resilient and respected assets in the Middle East—and beyond. TIME BUSINESS NEWS
TimesLIVE
09-05-2025
- Business
- TimesLIVE
Most LBMA refineries using gold database, association says
Most gold refineries accredited by the London Bullion Market Association (LBMA) are now providing data to a digital platform launched in January to increase transparency in the industry, the association's head says. The LBMA oversees London's over-the-counter gold trading hub, the world's largest. Its "good delivery" list currently includes 66 gold refiners and 83 silver refiners worldwide that must source metal responsibly to access the London market. The association's Gold Bar Integrity Database holds data submitted by refiners. "We're in a very good place on the pickup," Ruth Crowell, the LBMA's CEO, said of the database. "We have 85% of refiners on board now." The LBMA aims to have all its approved refiners using the database before the end of this year. The push for disclosure was timely given record gold prices amid turbulence on financial markets had stoked demand for the precious metal, Crowell told Reuters on Wednesday on the sidelines of a responsible mining conference at the Organisation for Economic Cooperation and Development in Paris.
