National News
GJEPC is Title Partner of IIJS Jewellers Cricket League
GJEPC is proud to be the Title Partner of the highly anticipated IIJS-JCL (Jewellers Cricket League), which kicked off on 11Apr at the state-of-the-art Cricket Hub Ground, strategically located on the Banur-Landran Highway in Mohali. Representing GJEPC at this exciting event are esteemed officials Shamal Pote, Director along with team Pranabes Hazra and S. Madaan. Together, they will showcase the Council’s dynamic activities and promote its initiatives to a wider audience, underscoring GJEPC’s commitment to innovation and community engagement.
National News
WGC India Gold Market Update: Recovery Taking Shape
Consumers Responded To Lower and More Stable Prices, While Retailers and Manufacturers Replenished Inventories Ahead Of The Festive Season.
Highlights
International and domestic gold prices gained ground in August, partially reversing June’s sharp correction after a period of stability in July
Jewellery demand reportedly strengthened: consumers responded to lower and more stable prices, while retailers and manufacturers replenished inventories ahead of the festive season.
Investment demand remained steady; gold ETFs continue to attract inflows, bar and coin demand held up, albeit softer than the heightened levels seen earlier in the year
Activity in the futures market picked up in July, lifting trading volumes and turnover
Gold imports rebounded in July, signalling firmer demand conditions.
Looking ahead
Demand conditions are improving, raising expectations of a stronger festive season. While elevated prices may continue to influence jewellery purchases, investment demand remains supportive.
Following a sharp price correction in June, gold prices stabilised during July before recovering in early August, reaching their highest levels in over two months. International gold price (LBMA Gold PM) rose 9% in the first two weeks of August to US$4,391/oz, while domestic prices gained nearly 7% to INR151,744/10g. The appreciation of the INR against the US dollar partially offset the rise in the international price, limiting gains in domestic prices.
Shifting monetary policy expectations, a weaker US dollar, and renewed inflows into gold ETFs supported gold prices, contributing to the recent recovery in the gold market.
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