International News
Central banks on track for 4th year of massive gold purchases- Metals Focus
Central banks worldwide are on track to buy 1,000 metric tons of gold in 2025, which would be their fourth year of massive purchases as they diversify reserves from dollar-denominated assets into bullion, consultancy Metals Focus said.
Gold prices are up 29% so far this year after hitting a record high of $3,500 per troy ounce in April on geopolitical tensions and economic uncertainty as U.S. President Donald Trump continues to roll out his tariff policies.
The price rally has so far kept purchases by central banks, a crucial category of demand, unaffected with the first-quarter buying in line with the 2022-24 quarterly average, Metals Focus said in its annual report on Thursday.
In a landmark moment for the Indian jewellery industry’s expanding global footprint, Sky Gold & Diamonds Ltd. proudly inaugurated its state-of-the-art Sky Souk Office & Experience Centre at Experience Centre Experience Centre , Dubai Gold Souk Extension.
The inauguration was conducted by Tamjid Abdullah, Joint Managing Director, Jawhara Jewellery, and attended by eminent industry leaders including John Paul Alukkas, Managing Director, Joyalukkas Jewellery – International Operations; K.P. Abdul Salam, Vice Chairman, Malabar Group; and Rajesh Jain, Partner, Siroya Jewellers LLC.
Adding to the momentous occasion were Darshan Chauhan, Mahendra Chauhan, and Akash Talesara, President, Sky Gold & Diamonds Ltd., along with the entire Sky Gold & Diamonds team.
This milestone underscores the brand’s commitment to blending Indian craftsmanship with global luxury sensibilities, positioning Sky Souk as a hub for innovation, artistry, and strategic B2B collaboration within Dubai’s dynamic jewellery landscape.
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