Jewellers

Dhanteras kickstarts on positive note, jewellers eye up to 20% growth

Two-day pre-Diwali Dhanteras buying of gold and silver began on a positive note on Saturday with some big jewellers and an industry body anticipating a further pickup in demand by Sunday and up to 20 per cent higher sales than the last year. High gold prices have not deterred consumers from buying on Dhanteras, which is considered the most auspicious day in the Hindu calendar for buying items ranging from precious metals to utensils, to other valuables. On Saturday, gold prices were ruling at Rs 50,139 per 10 grams, excluding taxes, in the national capital, much higher than Rs 47,644 per 10 grams on Dhanteras day in 2021. Normally, 20-30 tonnes of gold is sold on a Dhanteras day. "As this year Dhanteras is spread over the weekend, we expect the momentum to increase towards evening and tomorrow," All India Gem And Jewellery Domestic Council Chairman Ashish Pethe told PTI. The market response has been good on the first day of Dhanteras and is likely to continue on Sunday as well, h

Digital gold firm SafeGold plans metal leasing for India's jewellers

Small, often family-run businesses account for about 65% of the world's second biggest jewellery market, the WGC said in a report Wednesday

Vaibhav Jewellers files draft papers with Sebi to mop-up funds via IPO

Vaibhav Gems N' Jewellers Ltd, a leading regional jeweller brand in South India, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The public issue comprises fresh issue of equity shares aggregating up to Rs 210 crore and an Offer-for-Sale (OFS) of 43 lakh equity shares by promoter entity Grandhi Bharata Mallika Ratna Kumari (HUF), according to the draft red herring prospectus (DRHP). Also, the company may consider a further issue of equity shares aggregating up to Rs 40 crore. If such a placement is completed, the fresh issue size will be reduced. Proceeds of the fresh issue will be utilized to finance the establishment of eight new showrooms costing Rs 12 crore and the purchase of inventory worth Rs 160 crore over FY23 and FY24, besides general corporate purposes. Visakhapatnam-headquartered Vaibhav Jewellers offers a wide range of products in gold, diamonds, gems, platinum and silver jewellery or articles. I

First global gold exchange in India aims to create regional bullion hub

The India International Bullion Exchange is expected to attract dealers, refineries and foreign banks, Chief Executive Officer Ashok Gautam said

Gold standard of hallmarking purity is now just a click away: Here's how

Download BIS Care app, use 'verify HUID' to check authenticity

Jewellers expect sales during Akshaya Tritiya to surpass 2019 level

However, some of them feel that the recent surge in gold prices could become a hindrance

Bumper wedding season may help push Indian gold imports to 6-year high

A recovery in consumer confidence and a retreat in gold prices from last year's peak are likely to further bolster demand

Jewellers expecting strong demand during Dhanteras on softer gold prices

With jewellery market already on robust recovery path, jewellers are expecting strong Diwali sales in Dhanteras as festive mood remains high with low Covid third wave possibility, softer gold price.

Jewellers sell Rs 100 gold online in the festive season warm-up

The jewellers have launched the offers just as the festive season begins, when gold demand peaks

Jeweller Joyalukkas said to plan $400 million IPO next year: Report

Joyalukkas may file a draft prospectus by end of November or early December: report

Gujarat: Over 15,000 jewellers join nationwide strike against HUID

Over 15,000 jewellers across Gujarat kept their businesses shut as they joined the nationwide strike against the implementation of Hallmarking Unique ID (HUID) system, industry stakeholders claimed

GST only on margin earned on resale of second-hand jewellery: AAR

Jewellers will have to pay GST only on the profit earned on resale of second-hand gold jewellery, Karnataka AAR has ruled.

Akshaya Tritiya begins on sombre note; jewellers expect 10-15% sales

Akshaya Tritiya, a highly auspicious day to purchase gold, has started on a sombre note and jewellers are expecting only 10-15 per cent sales as the onset of the COVID-19 second wave, local restrictions and partial lockdowns have affected consumer sentiment. "As most of the states are under lockdown to curb the infections there is almost no business activity. The day of Akshaya Tritiya has begun on a slow note and whatever booking or enquiries are happening it is only through tele or digital medium," All-India Gems & Jewellery Domestic Council (GJC) chairman Ashish Pethe told PTI. He said, jewellers are expecting only 10-15 per cent sales this Akshaya Tritiya in places where the lockdown is not imposed or there are partial shutdowns. The second wave of the pandemic is turning out to be much worse than last year with huge loss of life across the country causing an overall negative consumer sentiment, Pethe said. India's COVID-19 tally of cases climbed to 2,40,46,809, while the ...

Make jewellers partners in gold deposit scheme

The number of places where gold can be tendered is limited and the staff there is ill-trained, making the scheme a non-starter

Jewellers see Dhanteras sales jumping 33% over last year on low gold price

Fall in the price of gold the past one week and from the August's peak has sparked expectations of a better show

BSE signs MoU with premier bullion trade associations across India

These associations collectively represent close to 2,200 members, engaged in retail sale and trade of bullion

Indian jewellers gear up for next festival as gold sales pick up pace

Indians celebrated the Dussehra festival on Sunday, and now await Diwali and Dhanteras in November

Jewellers bet big on Dussehra, expect 65% of total biz this festival season

Gold prices were on Friday ruling at around Rs 49,200-51,000 per 10 grams in the domestic market, while in the international market, it was at USD 1,908 an ounce.

Jewellers bargain on rent, pare store sizes and stocks to stay afloat

Migrant workers told not to return from hometowns despite onset of festive season

Gold prices at new all-time high, entering years-long bull run: Analysts

Investment in precious metal safe based on outlook for India in the next four months