Jewelry expects the recent demand in demand to be maintained in the next few days, since gold prices are expected to take a break with the commercial war caused by the establishments of the United States. | Photo credit: Reuters
Gold imports have more than duplicated to 52 tons in March against 15 tons in February despite a strong rally in gold prices amid the growing world uncertainty.
Jewelry expects the recent demand in demand to be maintained in the next few days, since gold prices are expected to take a break with the commercial war caused by the establishments of the United States.
Consumers, who were sitting outside due to high prices, are taking lunch to buy every time gold prices fall. Moreoover, consumers exchange old gold jewelry to moderate the impact of the price rally.
Kavita Chacko, Chief of Research, India, World Gold Council, said there has been a notable change in consumer behavior in response to Soing prices, with more buyers who choose to trade with old jewels for new from the center of the center of the center of the center of the center of the center of the center of the central centers in the center of the center of the center of the centers. from the center of the center of the cent in the center of the central center of the central center of the central center of the central center of the center of the cent of the penny of the cent of the center “, Exchange.
Strong performance
Despite high record prices, he said that gold imports were abruptly recovered in March 47-52 tons after two consecutive months of decrease and this has stressed the continuous interest in gold even high prices.
Gold prices set by the London Bull Market Association (LBMA) rose by 24 percent this year to $ 3,230 per ounce, with more than 14 percent of this increase since March. Indian prices of nomental gold have reflected this trend, increasing 23 % of YTD to ₹ 93,217 for 10 g.
Initial profit reports of the main jewelry retailers Kalyan Jewelers India, Titian Company and Senco Gold for March the quarter of solid yield, with an average income of income an increase of 25 to 35 percent year -on -year. This was largely driven by the demand related to wedding and festive purchase.
Share in RBI reservations
Not only consumers, but the RBI has also added a modest 0.6 tons of gold to its reserves in March, resuming purchases after a thirst in February, according to WGC estimates. This leads to the total golden holdings of the RBI to 880 tons or 12 percent of its total currency reserves, the highest level both in quantum and value terms.
During the past year, Gold’s participation in RBI Forex reserves has increased almost 4 percent, reflecting a 57 percent net addition to his holdings.
Navneet Damani, senior vice president of the group, Chief – Commerce, Motilal Oswal Financial Services, said that the central banks reinforce their reserves and investors seek security, gold in a favored asset.
“Except for any significant resolution in global commercial tensions, we maintain a vision of ‘buying in Dips’ from a long -term median perspective,” he said.
Safe Dondapati, fund manager, Kotak Mahindra AMC said that gold prices this year have experienced significant movements due to current commercial tensions, the expectations of tariff cuts, geopolitical uncertainties and the weakening of the dollar.
Gold in the future will remain optimistic, supported by strong purchases of the Central Bank and geopolitical uncertainties, he said.
Posted on April 18, 2025