National News
GJC’s first Labham Seminar in Ahilyanagar concludes successfully
The All India Gem & Jewellery Domestic Council (GJC) successfully organized its flagship knowledge-sharing event this week, the Labham Seminar, at Hotel Raj Palace in Ahilyanagar. This was the first-ever Labham Seminar held in Ahilyanagar, conducted in collaboration with the Gold Jewellers Council – Ahilyanagar, a prestigious association dedicated to the growth and prosperity of the local jewellery trade.
This 181st edition of the Labham Seminar was conducted under the DD-WGC Labham series and witnessed the participation of over 100 jewellers. The seminar aimed to strengthen awareness of business knowledge, legal compliance, and ethical trade practices. Key speakers at the event included GJC Chairman Rajesh Rokde, Vice Chairman Avinash Gupta, Vardhaman Kothari, former Chairman Nitin Khandelwal, and legal advisor Bhavin Mehta, who addressed crucial topics such as legal guidelines, compliance policies, and business growth strategies.
During the seminar, insights were also shared about the upcoming India Gem & Jewellery Show (GJS) and GJS Jewellers Meet. The prestigious B2B jewellery trade show is set to take place from 4th to 7th April 2025 at the Jio World Convention Centre, Mumbai. This edition will feature 400+ exhibitors and 750+ booths, offering a grand platform for the jewellery industry to explore an extensive range of products, including gold, couture and real diamond-studded jewellery, silver, gemstones, loose diamonds, pearls, lab-grown diamonds, and allied services.
A key highlight of this year’s event is the Silver Pavilion, dedicated to meeting the growing demand for silver jewellery and artifacts. Scheduled 26 days before Akshaya Tritiya and just ahead of the upcoming wedding season, this show presents a golden opportunity for retailers and buyers to stock up their inventory. With 20,000+ visitors and 2,000 hosted buyers expected, GJS is set to become a leading sourcing platform for India’s jewellery traders.
The GJS Jewellers Meet serves as an exclusive networking platform, bringing together key jewellers, retailers, and manufacturers from the industry. This meet fosters business discussions, collaborations, and trade opportunities, allowing stakeholders to establish valuable connections and gain insights into the latest market trends.
On this occasion, GJC Chairman Rajesh Rokde stated:”The Labham Seminar has always been a vital platform for educating jewellers about compliance and ethical trade practices. We are delighted to host this seminar for the first time in Ahilyanagar and are thrilled by the enthusiastic response from the local jewellery community. GJC remains committed to driving industry growth, education, and business excellence. Through GJS and GJS Jewellers Meet, we are providing jewellers with an unparalleled platform to connect, collaborate, and unlock new business opportunities.”
With this grand success, the Labham Seminar in Ahilyanagar has laid a strong foundation for future knowledge-sharing programs. The Gold Jewellers Council – Ahilyanagar and GJC remain dedicated to their mission of empowering jewellers through initiatives like Labham, ensuring continued progress and excellence in the industry.
National News
Consumers Are Offloading Gold For Cash On Fears Of Further Decline In Prices
Major Scrap-Buying Operations Are Reporting Unprecedented Volume Growth
A growing conviction that the precious metal has peaked is driving a historic selling spree across India, the world’s second-largest gold consumer. Indian consumers offloaded nearly 50 metric tons of old gold during the April-June quarter—a staggering 43% surge compared to the same period last year. The rush to liquidate highlights a fundamental shift in how Indian consumers view their gold: less as an emotional keepsake, and more as a tactical financial asset to be traded for profit.
While gold prices have retreated from an all-time high of roughly Rs 1.8 lakh per 10 grams ($2,160) earlier this year, they remain elevated at around Rs 1.4 lakh. Fears that the market could cool further—potentially dropping to Rs 1.2 lakh—have triggered a wave of profit-taking. Instead of the traditional practice of exchanging old necklaces and bangles for new designs, consumers are increasingly demanding cold, hard cash.
This behavior is fueling a boom for India’s organized gold recycling sector. Major scrap-buying operations are reporting unprecedented volume growth. Muthoot Exim, a prominent player in the space, saw a 40% year-over-year volume spike across its network of more than 100 “Gold Point” centers.
The surge in domestic recycling comes at a critical time for India’s macroeconomic balance. The country is overwhelmingly dependent on foreign bullion to satisfy domestic demand, splurging an estimated $72.4 billion on gold imports in the fiscal year ended March 2026.By pushing idle gold back into the supply chain, the recycling boom provides a vital domestic cushion, reducing the country’s reliance on fresh mining imports.
For global gold markets, the behavior of the Indian consumer remains a crucial swing factor. If the selling pressure persists, a steady stream of recycled domestic supply could cap India’s import appetite, potentially easing broader global price pressures.
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