Jeweller confidence revives on festive demand hopes for gold


 The jewellery demand was impacted by recurring lockdowns, unprecedented gold prices, and inauspicious periods based on religious beliefs.

As bullion imports improved during the July-September period on a quarter-on-quarter (QoQ) basis, a Motilal Oswal report has said that the improved demand shows revival in confidence among jewellers about the strong festive and wedding demand anticipated in the fourth quarter of 2020.

Citing the recent World Gold Council data, the Motilal Oswal report said that net bullion imports, which contribute 85-90 per cent of India’s gold supplies, saw a sharp recovery in third quarter of 2020 (3QCY20) after a deep plunge in the quarter before that. While gross imports and exports both plunged sharply in 2QCY20, the revival in exports was much lower than that in imports in 3QCY20.

Accordingly, while net bullion imports had fallen 96.4 per cent YoY to just 9 tonne in 2QCY20 amid stringent lockdowns, the volumes saw a sharp rebound to 90.5 tonne in 3QCY20, up 8.2 per cent. Although the growth is on a soft base of 3QCY19, it comes after four consecutive quarters of decline, it said.

“We believe this rebound is indicative of jeweller confidence in the strong festive and wedding demand anticipated in 4QCY20. Titan indicated in its post results call last week that the first 10 days of the festive season has been in positive territory,” the report said.

As per the World Gold Council’s latest data jewellery demand was severely affected during July-September with volumes down 48 per cent YoY to 52.8 tonne in 3QCY20. The demand was impacted by recurring lockdowns, unprecedented gold prices, and inauspicious periods based on religious beliefs, the report said.

“Nevertheless, there was a modest sequential recovery of 20 per cent QoQ in the gold jewellery demand,” it said.

Comments

Post a Comment

Popular posts from this blog

How to clean any jewellery or bracelet.

Image
  To look after any jewellery, you need to wear, clean and store the piece properly to ensure it stays looking good as new. Pandora jewellery is just like any other, but the website details specific care, cleaning, and storage instructions. The Pandora website states your authorized Pandora retailer is happy to offer jewellery cleaning services tailored specially for your Pandora products. The Pandora site explains exactly how to clean the jewellery. It reads: “Polish your Pandora jewellery frequently with a soft polishing cloth to maintain their shine. “Buff your sterling silver pieces with the white side of the polishing cloth – it’s infused with a gentle cleaning solution that’s specifically formulated for our signature metal.” The site adds: “For plated metals, such as Pandora Rose and Pandora Shine, use the untreated pink side of the polishing cloth. “You can use the approved Pandora Care Kit to clean rings, bracelets, charms,  necklaces , pendants and  earrings . “Before using th
Read more

Meghan Markle’s crystal necklace has a hidden meaning

Image
  When Meghan Markle made a FaceTime cameo during Prince Harry’s recent appearance on “The Late Late Show with James Corden,” she did so wearing a crystal   necklace with special significance. As confirmed to Page Six Style on Tuesday, the Duchess of Sussex, 39, paired her $30 puff-sleeved Velvet Torch dress with a far pricier piece: a $1,295 trapezoid-shaped lapis lazuli pendant from The Airelume, the “ collection of wearable  talismans” by her friend Taryn Toomey’s brand, The Class. “Lapis lazuli aids in self-expression and revelation of one’s inner truth,” the product description reads. “This stone is widely regarded as a token of sincerity and wisdom – and is especially helpful to anyone in need of a boost in self-confidence and a stronger connection to their inner voice.” Markle’s brief appearance on “The Late Late Show” came just days before the Sussexes’ explosive interview with Oprah Winfrey, during which the Duchess said she felt “liberated” to finally be able to speak for her
Read more

Web traffic for your Jewellery or any website using Social media Marketing.

Image
  Paid advertising seems to be the most obvious choice when you want more Social media Marketing or web traffic, but it is not the only way. You can certainly attract and lead visitors to your website through ads, but they don’t guarantee an increase in conversions. Not to mention, not all businesses have the budget to pay for digital ads. Fortunately, there are  plenty of sustainable ways to drive traffic without putting a hole in your pocket. It takes a lot more effort, but in the overwhelmingly busy and crowded virtual space where competition among businesses is fierce, you need to do whatever you can to rise above all the noise. More than 3.5 billion people worldwide use social media platforms to connect with peers, discuss interests, and keep up with the latest news and trends. It’s safe to say that rampant social media use has shaped our view and experience of the world.  Businesses have adopted this knowledge to engage their target audience and drive traffic to their website. Es
Read more