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Gold sales

Kalyan Jewellers revenue growth surges 27% in Q1 FY25, plans expansion

Kalyan Jewellers on Friday reported a 27 per cent year-on-year increase in consolidated revenue for the first quarter of the financial year 2024-25, driven by strong performance in both Indian and Middle Eastern markets. The company had reported a consolidated net revenue of Rs 4,376 crore in the first quarter (April-June) of the 2023-24 fiscal year. India operations saw a 29 per cent revenue growth during the first quarter of this fiscal, compared to the corresponding quarter of the previous fiscal year, with a 12 per cent same-store-sales growth, the company said in a regulatory filing. The revenue from Middle East operations was up 16 per cent, contributing 15 per cent to the consolidated revenue. The company said 13 new franchisee-owned-company-operated (FOCO) showrooms were opened during the April-June period this year in India, while the digital platform Candere recorded a 13 per cent revenue growth. The company said it plans to convert its Candere business into a wholly-own

Kalyan Jewellers revenue growth surges 27% in Q1 FY25, plans expansion
Updated On : 05 Jul 2024 | 11:57 AM IST

Gold Strategy: Yellow metal uncertain before Fed outcome; support at $2,277

Spot gold traded with a bearish bias on Tuesday as most of the commodities were under pressure due to the rise of far-right parties in the recently concluded European elections

Gold Strategy: Yellow metal uncertain before Fed outcome; support at $2,277
Updated On : 12 Jun 2024 | 9:02 AM IST

Gold has major resistance at 74,500, buy the dips in near-term: Sharekhan

The metal was changing hands at $2381 at the time of the MCX closing, which is down 0.20 per cent from Wednesday's closing level

Gold has major resistance at 74,500, buy the dips in near-term: Sharekhan
Updated On : 17 May 2024 | 8:58 AM IST

Gold prices on Akshaya Tritiya, May 10: Check key levels before investing

Spot gold was up nearly 1 per cent Thursday on rate cut bets as the weekly US job data disappointed

Gold prices on Akshaya Tritiya, May 10: Check key levels before investing
Updated On : 10 May 2024 | 5:11 PM IST

Customers shy away from market as gold price nears Rs 70,000 milestone

The gold price was Rs 28,430 per 10 gram a decade ago, up 141 per cent, giving a 9.2 per cent compounding annual return

Customers shy away from market as gold price nears Rs 70,000 milestone
Updated On : 02 Apr 2024 | 11:15 PM IST

Global gold demand down 5% in 2023 on continuing ETF outflows: WGC Report

Global gold demand declined 5 per cent to 4,448.4 tonnes in 2023, compared to the previous year, mainly due to continuing Exchange-Traded Fund (ETF) outflows, according to the World Gold Council (WGC) report. The overall global gold demand was 4,699 tonnes in 2022, according to WGC's Gold Demand Trends report 2023. According to the report, global gold ETFs saw a third consecutive annual outflow, losing 244.4 tonnes compared to 109.5 tonnes in 2022. Losses were most marked in Europe, where holdings fell by 180 tonnes - the worst annual performance since 2013. The pace of outflows slowed markedly into year-end, but October's hefty outflows dominated the fourth quarter (October-December), it added. Outflows from European funds have continued in the opening weeks of 2024, and North American-listed funds have resumed their decline after a two-month respite in November and December, the report said. Strong equity performance and continually shifting expectations surrounding the timing

Global gold demand down 5% in 2023 on continuing ETF outflows: WGC Report
Updated On : 31 Jan 2024 | 1:23 PM IST

Gold price dips Rs 110 to Rs 63,330, silver falls Rs 300 to Rs 76,500

The price of 22-carat gold slipped Rs 100, with the yellow metal selling at Rs 58,050

Gold price dips Rs 110 to Rs 63,330, silver falls Rs 300 to Rs 76,500
Updated On : 17 Jan 2024 | 9:28 AM IST

Jewellery retail trade expected to grow at 10-12% in FY24, says ICRA

The domestic jewellery retail industry, in value terms, is expected to grow at 10-12 per cent during the current financial year on the back of elevated gold prices, credit rating firm ICRA said in a report. In the last financial year, the industry had grown by more than 15 per cent. ICRA said that demand volumes remained stable in the current festive season despite higher prices. The research firm said organised jewellery retailers are expected to outperform the industry over the medium term, driven by planned retail expansion and tailwinds from the accelerated formalisation of the trade. After remaining volatile between December 2022 to April 2023, gold prices were relatively stable in the range of Rs 5,600 to Rs 5,700 per gram in the first half of the current fiscal. This was almost 14 per cent higher as compared to the price levels in the preceding first half. The rating firm said the elevated price levels supported the revenue expansion of most jewellery retailers in the face

Jewellery retail trade expected to grow at 10-12% in FY24, says ICRA
Updated On : 22 Dec 2023 | 3:26 PM IST

Gold prices slide 1% as strong US jobs data clouds interest rate cut bets

The dollar index firmed 0.2 per cent, making bullion more expensive for overseas buyers

Gold prices slide 1% as strong US jobs data clouds interest rate cut bets
Updated On : 08 Dec 2023 | 10:31 PM IST

Surging gold prices prompt Indians to recycle jewellery for weddings

"Wedding purchases are happening as they are inevitable," said Ashish Pethe, a partner at Waman Hari Pethe Jewellers

Surging gold prices prompt Indians to recycle jewellery for weddings
Updated On : 05 Dec 2023 | 10:43 PM IST

Indian buyers brush off record rates to load up on gold for Diwali

Local gold prices were trading around Rs 60,900 ($731.81) per 10 grams on Friday after hitting an all-time high of Rs 61,914 ($744.00)this week

Indian buyers brush off record rates to load up on gold for Diwali
Updated On : 17 Nov 2023 | 5:52 PM IST

Gold extends slide as hawkish Federal Reserve, firm dollar dominate mood

The U.S. Labor Department's Job Openings and Labor Turnover Survey (JOLTS) report is expected at 1400 GMT. The September non-farm payrolls data is due on Friday

Gold extends slide as hawkish Federal Reserve, firm dollar dominate mood
Updated On : 03 Oct 2023 | 4:26 PM IST

Inflows into gold ETF hit 16-month high at Rs 1,028 crore in August

Gold exchange-traded funds (ETFs) attracted Rs 1,028 crore in August, making it the highest inflow in 16 months, amid continued hikes in interest rates in the US, which led to a slowing down in growth rate there. With this, the year-to-date inflow in the category has reached more than Rs 1,400 crore, data with the Association of Mutual Funds in India (Amfi) showed. Apart from inflow, the asset base of Gold ETFs and investors' account or folio numbers increased in the period under review. According to data, gold-linked ETFs have seen an inflow of Rs 1,028 crore in August. This came following an inflow of Rs 456 crore in the segment in July. Before that, Gold ETF saw inflow to the tune of Rs 298 crore during the April-June period after three quarters of consecutive outflow. The category saw a withdrawal of Rs 1,243 crore in the March quarter, Rs 320 crore in the December quarter, and Rs 165 crore in the September quarter. The month of August witnessed the highest monthly inflow into

Inflows into gold ETF hit 16-month high at Rs 1,028 crore in August
Updated On : 18 Sep 2023 | 10:11 PM IST

Gold demand in India dips 7% YoY in June 2023 quarter as prices rise: WGC

High gold prices, and a knee-jerk reaction to the ban on Rs 2,000 notes during the recently concluded quarter, WGC said, also dented sentiment for gold

Gold demand in India dips 7% YoY in June 2023 quarter as prices rise: WGC
Updated On : 01 Aug 2023 | 10:34 PM IST

Akshaya Tritiya: Jewellers expect pick up in sales as gold prices soften

The recent softening of the gold price has supported demand for the yellow metal on the auspicious day of Akshaya Tritiya and jewellers have been witnessing steady footfalls since morning. "Since morning the footfalls have been good, mostly supported by the price coming down to around Rs 56,500 levels for 22 karat gold," All India Gem and Jewelry Domestic Council (GJC) chairman Sayam Mehra told PTI. People are buying new jewellery, mostly in light weight, and also picking up the pre-booked items. The footfalls are expected to increase as the day progresses, Mehra said. Jewellery from 5-33 grams and coins in 1-2 grams range are popular this year, he said, adding that this year, after Hallmarking, jewellery has become more popular than coins. "This year we expect business to be around 17-18 tonnes in terms of volume on Akshaya Tritiya. Last year, people bought wedding jewellery as the marriage season was immediately after Akshaya Tritiya. However, this year it's in June-July, so the

Akshaya Tritiya: Jewellers expect pick up in sales as gold prices soften
Updated On : 22 Apr 2023 | 1:40 PM IST

RBI's gold reserves rise further, up nearly 25 tonnes so far this year

The reserves had increased by 100 tonnes in the last two years; currently stand at 785.35 tonnes

RBI's gold reserves rise further, up nearly 25 tonnes so far this year
Updated On : 04 Nov 2022 | 8:55 PM IST

India's festival gold sales to shine less brightly this year, says WGC

Demand for gold jewelry, coins and bars typically peaks in the world's second-biggest consumer over October to December, driven by festivals including Diwali

India's festival gold sales to shine less brightly this year, says WGC
Updated On : 18 Oct 2022 | 5:14 PM IST

Despite price fall, domestic gold trading at a discount to imports

In Mumbai, the yellow metal is going at a discount of $7-10 per ounce while in Ahmedabad it is $7

Despite price fall, domestic gold trading at a discount to imports
Updated On : 23 Sep 2022 | 9:15 PM IST

Gold's allure to dim in India due to lower rural income, says report

Gold consumption surged to 800 tons last year as the easing of virus-related restrictions unleashed demand. The jump in demand and rising imports forced the government to raise the import tax on gold

Gold's allure to dim in India due to lower rural income, says report
Updated On : 19 Sep 2022 | 3:54 PM IST

Gold jewellery demand in India likely to dip in H2: World Gold Council

At the global level, the demand for gold (excluding OTC) was 8 per cent lower y-o-y at 948 tonnes. Combined with Q1-2022, the total demand in the first half of 2022 came in at 2,189t, up 12 per cent

Gold jewellery demand in India likely to dip in H2: World Gold Council
Updated On : 29 Jul 2022 | 1:00 AM IST