Daily News
At 52MT, gold imports plunge to an 8-year low
NEW DELHI: Thanks to high gold prices and poor demand, the gold imports in Gujarat have plunged to an eight-year low in the financial year 2018-19 that ended on March 31.
According to data by Ahmedabad Air Cargo Complex, the imports of the yellow metal stood at 51.98 metric tonne (MT) in Gujarat in FY 2018-19. This means, gold imports declined by 30% against 74.2MT gold imported in the state in FY 2017-18.
Analysts indicate that the dip in gold imports can be attributed to the price of gold that remained on the higher side throughout the year. “Due to fluctuation in the Indian currency, which devaluated past the 70-mark against the US dollar, the price of gold in India was high, despite the price remaining low in the international market.
Similarly, when the rupee stabilized, gold prices in the international market went up, thus pushing the price of the yellow metal up,” said Haresh Acharya, director, India Bullion and Jewellers Association (IBJA).
Courtesy: Times of India
De Beers opens flagship store at Dubai Mall, offering its signature fine and high jewellery lines
Farah Khan Atelier retails new jewellery line inspired by Arabian desert landscape through Hanif Jewellers
CaratLane rolls out 360° campaign around new offerings ‘Sol’ and ‘Luna’ ahead of Akshaya Tritiya
Glow by Kirtilals expands retail footprint with two new showrooms in Hyderabad and Tirupur
#LoveFromDad: De Beers unveils second ear-piercing drive to spur natural diamond demand among young consumers
US tariff storm hits India’s gem & jewellery industry; faces major disruption threat, 1 million jobs at risk
Titan brings together Tanishq, Titan Watches and Titan Eye+ at first multi-brand store in the UAE
Saashri Jewellers ropes in actor Samantha Ruth Prabhu for grand opening of new store in Sydney
Daily News4 weeks ago#LoveFromDad: De Beers unveils second ear-piercing drive to spur natural diamond demand among young consumers
- Exclusive3 weeks ago
US tariff storm hits India’s gem & jewellery industry; faces major disruption threat, 1 million jobs at risk
- Wide Angle2 weeks ago
Titan brings together Tanishq, Titan Watches and Titan Eye+ at first multi-brand store in the UAE
- Wide Angle1 month ago
Saashri Jewellers ropes in actor Samantha Ruth Prabhu for grand opening of new store in Sydney
