India’s gold demand down in Q3 owing to policy upheaval
Click here to view this NewsLetter online
Saturday,November 11 2017 [ Issue 2 November/ 2017 ]
India’s gold demand down in Q3 owing to policy upheaval
Indian gold industry is not new to turmoil. Since last November, the entire gems and jewellery industry has witnessed too many of them. First, it was demonetization then Goods & Services Tax (GST) and lastly, anti-money laundering legislation (AML). All this has taken a toll on overall gold demand in the country.

As per the latest Gold Demand Trends Report of World Gold Council, India’s gold demand was down 24 per cent Y-O-Y to 146t in Q3 2017, as the newly introduced GST and AML around jewellery retail transactions deterred gold buyers. After three consecutive quarters of growth, jewellery demand fell by 25 per cent to 115t Y-O-Y in Q3; bar and coin demand also fell by 23 per cent to 31t. Fall in demand can mainly be attributed to some advance buying in Q2 to pre-empt the introduction of GST in Q3.

However, removal of AML legislation, demand during the festive season seems to show clear signs of recovery in Q4, says WGC report.

There’s proverb – A good medicine tastes bitter. Likewise, the policies may have caused a short-term mayhem in the industry. However, the gradual transition with GST is meant for longer good. It’s a move towards more transparent and organized way of doing business. Looking at the way the organized players’ stocks are gaining, it proves a point that transparent and organized way of business is the way forward.

 
Advertisement
Enshine DW Weekly
 
Highlights

Kat Graham wore Maxior earrings and Hearts on Fire bracelets at the 31st Annual American Cinematheque Awards Gala on November 10th in Beverly Hills, California

Maxior earrings:

read more ...
 

GIA is pleased to offer “Introduction to Merchandising” – a four-day course covering the planning, development and implementation of a strategy to sell products that meet sales and profit targets. Participants will learn merchand read more ...

 

De Beers Group and United Nations (UN) Women, in collaboration with Botswana’s Ministry of Nationality, Immigration and Gender Affairs, today announced a BWP8 million, three-year investment in capacity-building programmes to support women mi read more ...

 

To mark ten highly successful years of dedicated Noble Jewels sales in Geneva, Sotheby’s will offer at auction The Donnersmarck Diamonds, a pair of extraordinary Fancy Intense Yellow diamonds with impeccable aristocratic provenance. The supe read more ...

 

Their Royal Highnesses, The Prince of Wales and The Duchess of Cornwall attended the official preview of Elephant Parade India, last evening, at the British High Commissioner’s residence in New Delhi. Part of the 2017 UK India Year of Cultur read more ...

 

Diamonds are a symbol of eternity. Forevermark, the diamond brand from The De Beers Group of Companies and Manek Gem Art International, two stalwarts of the jewellery world have been long associated and identified for their extraordinary work of a read more ...

 

GIA (Gemological Institute of America) welcomed three new members to its Board of Governors and bid farewell to three who completed their terms at the Board’s regularly scheduled November meeting at the Institute’s World Headquarters i read more ...

 

ALROSA announces the recovery of several large rough diamonds from Jubilee (Yubileynaya) pipe at Aikhal Mining and Processing Division in October. The gem-quality diamonds range from 82 to 163 carats.

A 82.82-carat octahedron rough diamond  read more ...

 

Rio Tinto’s 2017 Argyle Pink Diamonds Tender collection of 58 rare pink, red and violet diamonds from its Argyle mine has delivered a record result, reflecting strong global demand for these increasingly rare diamonds.

Known as Custod read more ...

 

HRD Antwerp opened its Education Centre in Mumbai in the same premises as its office today. The center had the latest equipment and has a lot of interesting courses lined up apart from diamonds. “We have already trained a few retailers out h read more ...

 

Anaqa Jewels, the one stop destination for all kinds of fashion jewellery has introduced a stunning range of ornaments for the party lovers. The brand offers a splendid collection of classy cocktail rings, stunning necklaces, statement earrings an read more ...

 

The H1 recovery in Indian jewellery demand was derailed in Q3 by regulatory intervention. After three consecutive quarters of growth, demand fell by 25 per cent Y-O-Y to 114.9t in the third quarter, according to the World Gold Council’s late read more ...

 
Advertisement
GemEx NL
 

De Beers Group, in partnership with Botswana’s Ministry of Mineral Resources, Green Technology and Energy Security, and in collaboration with the United Nations Office for Partnerships (UNOP), will today convene the third annual Diamond Conf read more ...

 

Thailand successfully hosted the annual World Jewellery Confederation meeting or CIBJO Congress 2017, emphasizing the country’s position as world’s gems and jewellery trading hub. The event welcomed renowned gems and jewellery traders  read more ...

 

ICEX, the world’s first diamond derivatives exchange, has successfully completed first-ever Diamond Futures contracts settlement on 3rd November, 2017. ICEX had commenced operations on August 28th, 2017 with the launch of three monthly diamo read more ...

 

The Gem and Jewellery Export Promotion Council launched inaugural edition of India International Diamond Week (IDW), here, in Mumbai. The IDW is being held from 7th to 9th November at JW Sahar Mariott.

The IDW aims to  read more ...

 

Israel Diamond Exchange (IDE) President Yoram Dvash was re-elected earlier this week for a second term of three years at a General Assembly of bourse members.

Yesterday IDE held elections for its board of directors, as well as members of th read more ...

 

With the bridal season round the corner, Pristine Fire is here to make you look trendy, classy, playful and ready for any party or function. With a detailed eye towards innovation, intricacy and designs, Pristine Fire curates attractive range of l read more ...

 
Copyright 2015 - CC1-CC2, Ground Floor, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai 400013 India - All Rights Reserved.