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Revenues of organised <keyword id="21758362" type="General" weightage="100" keywordseo="gold-jewellery-retailers" source="keywords">gold jewellery retailers</keyword> are expected to surge by 22-25% this fiscal year, driven by the sharp reduction in import duties on <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> in the July Budget, according to a <keyword id="20874793" type="General" weightage="20" keywordseo="CRISIL-report" source="keywords">CRISIL report</keyword>. A recent analysis by CRISIL Ratings, which examined 58 gold jewellery retailers representing a third of the <keyword id="21165181" type="General" weightage="20" keywordseo="organised-sector" source="keywords">organised sector</keyword>'s revenues, indicates that the sector will benefit from improved <keyword id="19900859" type="General" weightage="20" keywordseo="working-capital" source="keywords">working capital</keyword> management. Although many retailers plan significant store expansions--estimated at 12-14% of existing stores--lower gold prices will reduce inventory costs, providing working capital relief. The organised jewellery sector, which accounts for just over a third of the overall market, is poised for a stronger financial performance compared to its unorganised counterpart. The steep reduction in <keyword id="20069572" type="General" weightage="20" keywordseo="import-duty" source="keywords">import duty</keyword> has come at a crucial time for the industry, as retailers prepare for the festive and marriage seasons. Following the price decline, volumes are expected to grow by 3-5% this fiscal year, reversing earlier projections of stagnant demand. Gold prices had been steadily rising since February 2024, which had subdued consumer demand and led to revenue growth driven solely by higher realisations rather than increased sales volumes. Himank Sharma, Director at CRISIL Ratings, highlighted the timely impact of the duty cut and said, "The duty cuts to their decadal lows have come at an opportune time for the gold jewellery retailers as they start stocking for the festive and marriage seasons from the latter half of August." He added, "However, the inventory losses on the existing stock due to the price cuts will be partially mitigated by the reduced spends on marketing and discounts, as demand revives. All said <keyword id="19957745" type="General" weightage="20" keywordseo="profitability" source="keywords">profitability</keyword> will see a marginal dip on-year to 7.1-7.2%." Despite the pressure on profitability, retailers' cash flows will improve due to higher revenues, enabling them to pursue expansion plans. Store expansions, expected to increase by 12-14%, will require higher inventory levels. However, the lower input costs resulting from reduced gold prices will balance out the additional working capital requirements. Gaurav Arora, Associate Director at CRISIL Ratings, added, "Gold jewellery retailers will maintain comfortable financial metrics this fiscal, with total outside liabilities to tangible net worth (TOL/TNW) and interest coverage ratios remaining around 1.0 and 9 times, respectively. These will be moderately better than our earlier expectations, keeping credit profiles stable." As the festive season approaches, gold prices remain around 17% higher than last year's average, which is expected to sustain demand and further drive revenues in the second half of the fiscal year. However, potential volatility in gold prices, changes in government regulations, and shifts in consumer sentiment will need to be closely monitored. The combination of reduced prices, increased demand, and improved working capital management is expected to keep the financial outlook for gold jewellery retailers positive, despite the slight dip in profitability. The reduced duty has caused retail gold prices to fall by Rs 4,500-5,000 per 10 grams, leading to increased demand for gold jewellery. The growth projection, 500-600 basis points higher than earlier estimates of 17-19%, is fuelled by higher volumes as more consumers are enticed by the lower prices.

Budget import duty cut will boost gold jewellery retailers' revenues by 22-25% this fiscal, notes CRISIL report

Mumbai, Apr 21 () The coronavirus outbreak and the lockdown ahead of Akshaya Tritiya is a credit negative for the gold jewellery retail industry in the short term, according to Icra. Gold jewellery buying is considered auspicious during Akshaya Tritiya, which falls in the last week of April this year. Over the last two years, the domestic gold jewellery retail industry has been affected by factors like weak consumer demand amid slowing economic growth, rapid rise in gold prices and faltering rural output, regulatory policy interventions and cautious lending environment, Icra said in a report."Given this background, the widened outbreak of COVID-19 and subsequent lockdown, ahead of the critical Akshaya Tritiya season is a credit negative for the gold jewellery retail industry in the short-term," it added.The lockdown has resulted in closure of retail stores across the country. Besides there has been supply chain disruption with restriction on movement of non-essential goods, Icra added."As the stores are currently non-operational and recovery in demand is likely to be slow and gradual given that jewellery is a non-essential product and consumers typically defer their discretionary spends, jewellery retailers shall witness sharp moderation in footfalls over the next few months. Especially, sales during Akshaya Tritiya, which falls in the last week of April 2020, shall witness considerable impact," Icra Vice President K Srikumar said.In addition to industry revenues being impacted, relatively stable fixed costs in the form of employee payouts and rentals shall affect the earning profile of the retailers, he pointed out."Any invocation of force majeure clauses given the above adverse impact in the rental agreements remains to be seen. Nevertheless, over the long term, gold jewellery demand shall continue to benefit from the cultural underpinnings, evolving lifestyle, growing disposable income, favourable demographic dividend and the growing penetration of organised sector," he added. SM SHW ANUANU

Gold jewellery retail industry to be credit negative in short term due to lockdown: Icra

New Delhi [India], May 22 (ANI): Benefiting from strong sales, organised gold jewellery retailers are set to clock 17-19 per cent <keyword id="19965932" type="General" weightage="20" keywordseo="revenue-growth" source="keywords">revenue growth</keyword> in the current financial year 2024-25, according to <keyword id="19898320" type="General" weightage="20" keywordseo="Crisil" source="keywords" meta.keywordsubtype="org" meta.entityname="Crisil" meta.hostid="261" meta.entityid="Crisil">Crisil</keyword>. The rating agency asserted that the projected revenue would be driven by higher realisations stemming from elevated <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">gold prices</keyword>, while volume remains steady. Gold, considered a safe haven asset for investment, has been in demand for considerable period of time, with its prices rallying to hit record highs every now and then. Geopolitical conflict in the West Asia that stretched for long now, buying by several central banks including RBI, physical demand, have altogether pushed gold prices towards northwards. Retailers are likely to step up marketing and promotional campaigns this fiscal to combat the moderation in demand amid rising gold prices, Crisil said on Wednesday. Hence, operating profitability may marginally moderate 20-40 basis points (100 basis points is equal to 1 percentage point) year-on-year to 7.7-7.9 per cent. "Working capital requirements may rise, too, resulting from increased inventory due to a substantial rise in gold prices and new stores additions. That said, credit profiles should remain stable," the rating agency noted. The organised gold sector accounts for slightly more than a third of the market, with the highly fragmented unorganised sector making up the rest. Domestic gold price increased 15 per cent during fiscal 2024 and reached Rs 67,000 per 10 gm as on end of March 2024. Now, they are trading at over Rs 74,000. Gold kept its shine as one of the safer investment options seen by various central banks across the world as well as end consumers amid geopolitical uncertainties. Gold is a scarce commodity, and any mismatch in demand-supply conditions may invariably trigger sharp price rise. Moreover, Crisil believes <keyword id="21263075" type="General" weightage="20" keywordseo="organised-retailers" source="keywords">organised retailers</keyword> will continue to gain market share at the expense of the unorganised ones, supported by changing consumer preferences and store expansion into Tier 1 and 2 cities and beyond. Himank Sharma, Director, CRISIL Ratings, "Stronger cash generation, due to healthy revenue growth and adequate profitability, will keep credit profiles of organised gold jewellery retailers stable, despite an expected rise in working capital borrowings." At the global level too, gold prices too are at their peaks. Historically, gold, as an asset, is considered to be a haven as it typically manages to retain or appreciate its underlying value in times of turbulence. (ANI)

Benefiting from strong sales, gold jewellers set for 17-19% revenue growth in 2024-25: Crisil

New Delhi, Nov 29 () Hallmarking of gold jewellery and artefacts will be made mandatory across the country from January 15, 2021 to ensure purity of the precious metal, Consumer Affairs Minister Ram Vilas Paswan announced on Friday.
A notification in this regard will be issued on January 15 next year and the decision will come into effect after a year, making it compulsory for all the jewellers to register with the Bureau of Indian Standards (BIS) and sell only hallmarked gold jewellery and artefacts.
Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present. The BIS is already running a hallmarking scheme for gold jewellery since April 2000 and around 40 per cent of gold jewellery is being hallmarked currently. 
"We are making hallmarking for gold jewellery and artefacts mandatory in the country. We will issue a notification on January 15 next year. One year period will be provided for implementation. From January 15, 2021, this will become mandatory," Paswan told reporters here. 
"Jewellers and retailers will be given one year time to exhaust their existing stocks," he added.
Paswan said the decision has been taken to protect consumers interest, mainly in small cities and villages, and ensure that they purchase pure gold jewellery.
"We are not touching gold jewellery lying with consumers," the minister clarified. Old jewellery is generally recycled by jewellers. 
The Bureau of Indian Standards (BIS) has formulated standards for hallmarking gold jewellery in three grades -- 14 carat, 18 carat and 22 carat. 
Paswan said the government may make it mandatory for retailers to display prices of these three quality grades at their shops. 
Asked about the penalty in case of violation, a senior BIS official explained that there is a provision for a fine of a minimum Rs 1 lakh and up to five times of the value of article as well as one year jail under the BIS Act passed last year.
At present, there are 877 assaying and hallmarking centres in 234 district locations and 26,019 jewellers have taken BIS registration. 
"We are targeting to open hallmarking centres in all districts of the country and register all jewellers during this one year window," he said, adding that a massive awareness campaign would be launched.
Paswan said the draft quality control order for mandatory hallmarking of gold jewellery and artefacts has been hosted on WTO website on October 10, 2019 for comments within 60 days. 
As per global trade rules of WTO, a member country has to notify a quality control order with the Geneva-based multilateral body and the process takes about two months time. Exporting nations have to comply with the BIS quality norms specified for gold in the quality control order. India is a part of the 164-member WTO since 1995.
India is the largest importer of gold, which mainly caters to the demand of jewellery industry. In volume terms, the country imports 700-800 tonne of gold annually.
According to World Gold Council data, India's cumulative gold demand declined to 496.11 tonnes during the first nine months of 2019 from 523.9 tonnes in the year-ago period. The 2018 full year gold demand stood at 760.4 tonnes.
Similarly, the cumulative gold import declined to 502.9 tonnes in the first nine months of 2019 from 587.3 tonnes in the corresponding period of the previous year. India's gold imports stood at 755.7 tonnes in 2018. MJH MJH MR
MR

Mandatory hallmarking for gold jewellery/artefacts from Jan 15, 2021: Paswan

<ul><li>Shares of <keyword id="6359357" type="General" weightage="20" keywordseo="titan" source="Orion">Titan</keyword> jumped 10% hitting 52-week high as company witnesses strong demand recovery after the second wave across its businesses.</li><li>The company’s jewellery, watches and eyewear business grew by 78%, 73% and 74% on year in September quarter.</li><li>Check out the latest updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>News of a comeback in sales brought a wave of excitement for the investors of watches and jewellery retailer, Titan. Shares of the company rose as much as 10% crossing the ₹2 trillion mark in market capitalisation. Footfalls at malls and large format stores, for the chain, are still at 65% and 70% of pre-pandemic levels respectively. But sales growth looks good partly due to pent up demand and partly due to the low base last year. <div type="image" title="Titan cchart" height="900" width="1200" msid="86832317" hostid="261"></div> The company’s jewellery, watches and eyewear business grew by 78%, 73% and 74% on year in the September quarter. “The demand postponement triggered by the second wave of the pandemic in avenues like gift purchases, occasions I milestone buying, weddings, investments in gold etc. witnessed a strong comeback in Q2,” said the company in a statement to exchanges. As festivities come near large fashion accessory companies like Titan witness a strong demand recovery pushing sales almost back to pre covid levels. With covid restrictions easing down, stores become fully operational in most of its stores known for selling luxurious products. Analysts believe that Titan is growing its jewellery business as there lies a huge scope of revenues. “Titan is targeting to gain market share in the Jewellery segment due to strong focus on wedding segment, huge scope for store expansion (40-50 stores every year), and gold harvest &amp; gold exchange schemes. Further, the shift from unorganized (currently 70%) to organized (currently 30%) in the Jewellery segment will benefit branded players like Titan due to strong brand positioning and superior quality. Thus, we are positive on stock,” said Amarjeet Maurya, AVP - Mid Caps at Angel One. The craze around digital gold has also helped the Tata Group company gain some traction to its products. Titan’s feature to convert digital gold into jewellery later has received good response. “Digital Gold is a new pilot offering that helps customers purchase gold online and lock-in the gold prices with an ability to convert it into jewellery at a later stage. The early response has been good with enrolment of many digitally-savvy young customers,” said the company. Return of demand in gold is also because of the <a href="https://www.business-standard.com/article/economy-policy/business-glitters-for-jewellers-as-gold-prices-fall-17-economy-recovers-121100700102_1.html">reportedly </a>fall in bullion’s prices. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-deepak-nitrite-aarti-industries-clean-science-and-technology-among-specialty-chemical-companies-gain-over-power-shortage-in-china/slidelist/86830789.cms">Deepak Nitrite, Aarti Industries, Clean Science and Technology among specialty chemical companies minting money over heat in China</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/reliance-retail-to-run-7-eleven-convenience-stores-in-india/articleshow/86831029.cms">Reliance Retail to run 7-Eleven convenience stores in India</a>

Titan enters the ₹2 trillion club as gold jewellery and watches are back in vogue with the return of weddings and unbridled festivities

Mumbai, May 11 () India Ratings and Research (Ind-Ra) on Monday said it expects jewellery sales to decline by 25 per cent in 2020-21 (April-March) on account of over 40 days of lockdown following COVID-19 pandemic and overall reduction in disposable income. Jewellery demand, which is primarily driven by marriage season and a couple of festivals in the first quarter, has been significantly washed out due to the ongoing nationwide lockdown, Ind-Ra said in a report. The demand for retail jewellery will remain muted in 1HFY21 (April-September), however, a sharp recovery is expected in the third quarter of FY21 (October-December) due to the festive and wedding season. Gold jewellery demand had already slowed down in FY20 in terms of tonnage and revenue due to the economic slowdown and increased gold prices, it said. The possibility of a recovery of demand in FY21 has been derailed by the COVID-19 led lockdown and the subsequent continued economic slowdown in the country, it added. Ind-Ra already has revised its FY21 GDP growth twice since January 2020 to 1.9 per cent, and a further downward revision is possible if the pandemic continues to evolve, it said. This can have a prolonged negative impact on gold demand because of the possibility of a further reduction in the overall discretionary spend. As a result, Ind-Ra said, there is likely to be an overall 25 per cent year-on-year decline in retail jewellery revenues in this financial year. However, business from rural areas and weddings may remain resilient, it said, adding that from the fourth quarter of FY21 (January-March), sales are likely to improve due to the base effect and expected normalisation in economic activities. However, any further lockdown and prolonged impact of COVID-19 will lead to a further downward revision of estimates, it added. The volatility in gold prices is also expected to hurt consumer sentiments, the report said. In FY20, gold prices soared amid the worsening US-China trade war and interest rate cuts by various central banks worldwide. In FY21 till date, gold prices have remained high, amid the COVID-19 outbreak and its adverse impact on economic activity and global markets, it said. Investors across the world are fleeing to safer investments including gold, Ind-Ra said, adding that domestic jewellery and gold consumer demand is dependent on a specific budget, thus rising gold prices will have a negative impact on the overall demand in the short term. Additionally, it said the share of old gold purchases as a percentage of total purchases by jewellers could increase from around 35 per cent for large organised jewellers. Thus, the total gold import of India, which is primarily driven by jewellery demand, is also likely to drop to a decade-low in FY21. In the long-term, however, Ind-Ra believes that jewellery demand will be supported by the rise in savings at the hand of salaried middle-class and upper-middle class end-users due to postponement of purchases and cancellation of travel or tourism plans among other reasons. However, it remains to be seen whether such savings would add to jewellery demand in 2HFY21 (October-March) or will be used in compensating loss of income or saved for emergency situations, it said. The overall long-term demand outlook remains upbeat because gold remains to be an attractive investment destination, it said. The industry is expected to bounce back after FY21 with increasing gold rates and continued attraction to gold jewellery due to traditional factors, it added. SM RVK

COVID-19: Ind-Ra sees jewellery sales declining 25 pc in FY21

<keyword id="6354387" type="General" weightage="20" keywordseo="jewellery" source="Orion">Jewellery</keyword> consumption, in terms of value, is expected to grow by 10-12 per cent in this financial year, mainly on account of increase in <keyword id="46002" type="General" weightage="20" keywordseo="gold-prices" source="Orion">gold prices</keyword>, a report said on Friday. Rating agency <keyword id="6354972" type="General" weightage="20" keywordseo="icra" source="Orion">Icra</keyword> has revised upward its forecast for the year-on-year (YoY) <keyword id="19910440" type="General" weightage="20" keywordseo="domestic-jewellery-consumption" source="Orion">domestic jewellery consumption</keyword> growth (in value terms) in FY24 to 10-12 per cent from the earlier estimates of 8-10 per cent, primarily driven by the rise in gold prices. Jewellery consumption is estimated to have risen by more than 15 per cent YoY in the first half of FY24, aided by stable demand during 'Akshaya Tritiya', a festival considered auspicious for buying precious metals, and higher gold prices. However, Icra projects the growth rate to moderate to 6-8 per cent in the second half of this financial year due to sustained tepid rural demand amid persistent <keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">inflation</keyword>. After remaining volatile between December 2022 and April 2023, gold prices were relatively stable in the first half of FY24, although up 14 per cent compared to the average prices during the year-ago period, noted the report. The elevated price levels supported revenue expansion of most jewellery retailers in the face of muted volume growth, it said. The ongoing tensions in the Middle East and the evolving global macro-economic environment could keep gold prices elevated in the near term. The spike in gold prices since early October 2023 and persistent inflationary headwinds remain key risks to demand, it stated. "Jewellers of the organised market is projected to record a healthy revenue expansion of 15-18 per cent YoY in FY24 on the back of their planned retail expansions and a gradual shift in consumer preferences towards branded jewellers. The organised jewellery retailers are expected to outperform the industry over the medium term supported by tailwinds from accelerated formalisation of the industry," Icra Vice President and Sector Head Sujoy Saha said. Icra has projected some moderation in FY24 in the operating margins of organised players owing to the front-loaded operating costs for planned store additions and increased advertising expenditure in the face of rising competition. Nevertheless, the benefits of economies of scale are likely to support the operating margins, which are estimated to hover in the range of 7.5-8 per cent in the near to medium term. Despite the projected increase in debt levels to fund the inventory for new stores, the debt protection metrics for the players are estimated to remain comfortable. "The organised jewellers had recommenced their retail expansion in FY23, after a brief hiatus in FY21 and FY22, with the store count estimated to have risen by more than 20 per cent during the year. The momentum is likely to continue over the near to medium term with an estimated increase in store count by 18-20 per cent YoY in FY24, supporting their revenue growth," Saha added.

Jewellery consumption to grow by 10-12 pc value-wise in FY24 amid rise in gold prices: Report

There is a bad news for those who love the yellow metal. The <keyword id="18712" type="ENTERTAINMENT" weightage="80" keywordseo="Gold">gold</keyword> trade would be affected in the country as result of increased competition due to duty free jewellery imports from <keyword id="8692" type="COUNTRY" weightage="80" keywordseo="Indonesia">Indonesia</keyword>. At the same time, there would be fall in rural demand for the precious metal from June 1 when PAN card would be required to purchase gold jewellery worth over Rs 1 lakh. 
 
According to experts, jewellery imports from Indonesia are "completely detrimental to the interest of the gold trade" in the country. On the other hand, as agricultural income doesn't come under the tax net, many farmers don't have PAN cards. This would be a blow to the trade as rural India accounts for 60% of the total gold consumption of 811 tonnes in the country. 
 Trade insiders say gold jewellery imported from Indonesia under the free trade agreement (FTA) is affecting the domestic business that has to pay an import duty for gold. "Gold attracts an import duty of 10%, which makes the landed price of gold costlier. And automatically our jewellery prices go up," Manish Jain, chairman at <keyword id="2422472" type="UNKNOWN" weightage="80" keywordseo="Gem-Jewellery-Trade-Federation">Gem &amp; Jewellery Trade Federation</keyword> (GJF), told the Economic Times. 
 
The issue has been brought to the notice of the commerce ministry," he said. 
 The development comes at a time when the domestic demand is not picking up. Jewellers fear the market condition may get worse as buyers will soon have to show their permanent account number (PAN) card issued by the <keyword id="6354751" type="COMPANY" weightage="80" keywordseo="Income-Tax">income tax</keyword> department if they purchase jewellery over Rs 1 lakh. 
 
"The move to make PAN card mandatory for high-value transactions will surely impact retail sales. Rural demand of gold will be hard hit," said Bachhraj Bamalwa, director at GJF. 
 
And branded jewellers are increasingly penetrating to rural markets. Samir Sagar, director of Mumbai-based Manubhai Jewellers, said rural customers save for years to buy gold for weddings. "Now, if jewellers ask for PAN cards, they will get scared," he said. 
 The PAN mandate may also impact demand from housewives who buy non-marriage gold jewellery. "Usually, they do not have PAN cards, and even if they have, they do not want to carry these cards to jewellery outlets," Sagar said. Jain of GJF said representatives of the federation have met <keyword id="6355261" type="POSITION" weightage="60" keywordseo="Finance-minister">Finance Minister</keyword> <keyword id="42575" type="PERSON" weightage="80" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> to request him to raise the limit to Rs 5 lakh worth of gold jewellery for furnishing PAN details. 
 
"He has assured us that some positive step will be taken before June 1," he said. 
 This year the <keyword id="113718" type="ORGANIZATION" weightage="80" keywordseo="World-Gold-Council">World Gold Council</keyword> has kept a consumption target of 900-1,000 tonnes for India. 
 
(Image: Indiatimes)

Indonesian imports, PAN submission to affect gold trade in India

Amid the <keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">gold</keyword> crash, retail purchasers of gold are still buying heavily.
From Reuters:
A customer looks at bangles before purchasing them at a gold showroom in the southern Indian city of Kochi April 19, 2013. Gold rebounded above $1,400 an ounce on Friday as strong buying of coins and bars continued, primarily in Asia, but prices were still on course for a fourth week of losses after a brutal sell-off. Gold retailers struggled to cope this week as parents buying dowries, casual shoppers and tourists snapped up bars, coins, nuggets and jewellery as a slump in the price of the yellow metal released years of pent-up retail demand. 
<div class="image-container" style="width:900px"><div class="image"></div>REUTERS/Sivaram </div>

There Was So Much Demand For Physical Gold In India This Past Week, Retailers Struggled To Keep Up

It's not only the gold price under pressure at present - demand for the precious metal is falling fast.A report released by the World Gold Council (WGC) earlier today showed demand dropped 12% to a six-year low of 914.9 tonnes during the June quarter.The table below reveals demand fell across the board with the largest source globally - jewellery - down 14% on levels of a year earlier.<div class="display-media image primary center"><div class="KonaFilter image-container display-table size_primary alt="><div><div class="image"><a href="/imageundefined"></a></div></div></div></div>The fall was chiefly due to the weakness in the key markets of India and China, which were dictated by market-specific issues, said the WGC.In China, the largest source of market for jewellery globally, demand slid as slower economic growth and movements in the stock market weighed.Here's the WGC:Not only did economic growth slow demand, movements in the stock market - both up and down - also hindered demand.Reflective of a stronger US dollar and its overall economic performance compared to other nations, jewellery demand in the US increased, rising 3% to 36.6 tonnes.The economic turmoil in Greece may have also played a part in demand from Europe jumping 14% to 53.7 tonnes.Besides jewellery central bank demand also softened during the quarter, falling 13% compared to levels of a year earlier.<div class="display-media image primary center"><div class="KonaFilter image-container display-table size_primary alt="><div><div class="image"><a href="/imageundefined"></a></div></div></div></div>Russia continued to lead the way - feeding its voracious appetite with net purchases of 36.8t during the quarter, said the WGC, adding significant fresh demand came from Kazakhstan, whose central bank purchased a further 7.3t between April - June.On China, having announced its official gold reserves for the first time since 2009 last month, the WGC believes there is still ample room for reserves to grow.The PBOC revealed it increased gold reserves by 57% since its last announcement in 2009, bringing the total to 1,658 tonnes. Following the 604 tonnes increase, gold reserves still only represent 2% of total reserves. The WGC says that leaves ample room for growth. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/winners-losers-nba-basketball-cavaliers-offseason-2015-7">The biggest winners and losers in the NBA offseason</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="V4OHRrdjr42aVXwmBIoP1WN8QTgDf531" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "gold jewellery retailers" and got 10 results

Budget import duty cut will boost gold jewellery retailers' revenues by 22-25% this fiscal, notes CRISIL report

ANI

Gold jewellery retail industry to be credit negative in short term due to lockdown: Icra

PTI

Benefiting from strong sales, gold jewellers set for 17-19% revenue growth in 2024-25: Crisil

ANI

Mandatory hallmarking for gold jewellery/artefacts from Jan 15, 2021: Paswan

PTI

Titan enters the ₹2 trillion club as gold jewellery and watches are back in vogue with the return of weddings and unbridled festivities

Bhakti Makwana

COVID-19: Ind-Ra sees jewellery sales declining 25 pc in FY21

PTI

Jewellery consumption to grow by 10-12 pc value-wise in FY24 amid rise in gold prices: Report

PTI

Indonesian imports, PAN submission to affect gold trade in India

BI India Bureau

There Was So Much Demand For Physical Gold In India This Past Week, Retailers Struggled To Keep Up

Joe Weisenthal

Gold demand is tanking

David Scutt

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