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Updated Nov 02, 2021 | 06:06 IST
The gold and jewellery industry in India expects the trends in 2021 will be able to reach pre-Covid level sales.
The gold and jewellery industry in India expects the trends in 2021 will be able to reach pre-Covid level sales.&nbsp | &nbspPhoto Credit:&nbspiStock Images

It was thought that gold was losing its sheen to the dreaded coronavirus over the past nearly two years. However, the Indian jewellery market begs to differ. On a robust recovery path, the gold jewellers in India are expecting strong Diwali sales on the Dhanteras today.,tennis pro gear

The Indian consumers are looking at all possible arenas to get back to the festive mood that was lost to Covid last year. Not that Covid is leaving the world anytime soon, but with reportedly effective vaccines, a seemingly low possibility of a third Covid wave, and a definitive decline in gold prices, the festival season this year promises to be a great one.,basketball uniform vector

In fact, the industry expects the trends in 2021 will be able to reach pre-Covid level sales. With the gold price between Rs 46,000-47,000 per 10 grams of 22-carat gold — nearly 5 per cent lower than 2020 — the coffers seem to be jingling. And what is adding to the bling is that, unlike last year when weddings were being cancelled or postponed, this year, a jump in the number of weddings has led to more shopping for gold.  ,volleyball team ontario

tennis racquet logo stencil ink,"Since Navratri market is showing demand. It will continue on Dhanteras also. This year the festive mood is strong with the pandemic remaining under control, lower gold prices and a strong wedding season. This year October-November months will account for 40 per cent of yearly sales," All India Gems and Jewellery Domestic Council chairman Ashish Pethe was quoted as saying by a PTI report.

Last year during Dhanteras and Diwali, gold was trading at around Rs 50,000 for 10 grams of 22 carat gold. Coupled with job losses, lockdown, economic slump, and most importantly the scare of Covid-19 keeping people away from the markets, people were hardly in a celebratory mood. But anymore. The industry’s voice seems to be unanimous in saying that the demand for gold in India has bounced back sharply from the lows seen in pandemic-marred 2020.,handball champions league wikipedia

soccer camp yorktown heights ny,"Sales are expected to get back to pre-Covid levels, with an increase of 15-20 per cent from last year. This year's jewellery buying trend has been about living life large. After two years of mental anxiety and challenges, customers want to spend and invest in jewellery for happiness and asset building," PTI quoted Suvenkar Sen, the CEO of Senco Gold and Diamonds Ltd.

So much so, that according to the World Gold Council (WGC), the demand for gold in India has jumped 47 per cent year-on-year (YoY) to 139.1 tonnes as compared to 94.6 tonnes in the year-ago period, higher than 2019. In the July-September quarter this year, the demand for gold jewellery in India surged 58 per cent YoY to 96.2 tonnes due to strong pent-up demand.,handball quali morgen

PR Somasundaram, the managing director of WGC India says that the Council expects this quarter to be one of the best in recent years, benchmarked to pre-Covid seasons. “Pent up demand, soft prices and good monsoons, combined with easing of lockdown across regions, bodes well for a strong surge in demand," he reportedly said.,soccer gear ireland

While the industry bodies and jewellers are looking hopeful at a bright Diwali and jingling bank balances, the moneybox in the stores at the end of today will be the true judge of hopes, predictions and trends. And we hope they end on a twinkling note.,soccer gear ireland

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