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Gold discounts in India widened this week to their highest point in nearly eight months

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Gold discounts in India widened this week to their highest point in nearly eight months, as a surge in prices to a record high dampened demand, while customers in other key hubs also remained on the sidelines. Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6 per cent import and 3 per cent sales levies, up from a discount of $10 to $21 last week.

Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6% import and 3% sales levies, up from a discount of $10 to $21 last week.

“Jewellers are not keen on building high-cost inventory at the end of the financial year, as they are busy closing accounts,” said a Mumbai-based dealer with a bullion-importing bank. India’s financial year runs from April until March 31.

India’s gold imports are set to tumble 85% in February from year-ago levels, reaching their lowest levels in 20 years, as demand is dampened by record-high bullion prices.

In China, the world’s largest consumer, gold traded at a discount of $1 to an $18 premium over spot prices. Meanwhile, dealers in Hong Kong charged premiums ranging from par to $2 per ounce.In Japan, bullion was sold between a discount of $3 and a premium of $0.5, a trader said. In Singapore, gold traded between a $0.50 discount and a $3 premium

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QWEEN Partners With Perfect Corp. to Launch Hyper-Realistic AI-Powered Virtual Jewellery Try-On in India

Partnership brings Physically Based Rendering (PBR) technology to QWEEN’s digital ecosystem, enabling consumers to virtually try on rings, earrings and bracelets with exceptional realism across desktop and mobile.

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QWEEN, India’s first self-discovery, 100% natural experiential luxury jewellery brand, has partnered with Perfect Corp., a global leader in artificial intelligence (AI) and augmented reality (AR) technology for the beauty, fashion and luxury industries, to introduce an advanced 3D Virtual Try-On experience for consumers in India.

Powered by Physically Based Rendering (PBR) technology, the solution enables customers to virtually try on QWEEN’s rings, earrings and bracelets in real time across both desktop and mobile devices. The immersive experience allows users to see how each jewellery piece sits, moves, reflects light and complements their features, offering a highly realistic way to explore jewellery before making a purchase or visiting a store.

The partnership reflects QWEEN’s commitment to integrating world-class technology that meets the precision and craftsmanship standards expected in the luxury jewellery segment. Perfect Corp., which serves over 800 global brand partners, has developed technology solutions for leading luxury brands including Louis Vuitton, Tom Ford Fashion, and Parisian high jewellery house REZA.

Its PBR-enabled technology accurately renders gold, natural diamonds and gemstones with realistic texture, reflection, movement and proportion. The platform is designed to support up to 2,300 SKUs, enabling consumers to better evaluate the scale, fit and finish of jewellery beyond conventional product images.

Commenting on the collaboration, Amit Kumar, CEO and Co-Founder of QWEEN,

Said the traditional jewellery-buying journey has offered consumers limited opportunities to independently explore products before they are presented across a counter. He noted that QWEEN aims to change this by giving every woman greater information, control and confidence throughout the discovery process.

He added that Perfect Corp.’s experience working with some of the world’s leading luxury and fashion brands provides QWEEN with the confidence that the platform can deliver the realism, precision and sophistication required for the brand’s luxury positioning.

For QWEEN, the collaboration extends beyond introducing a digital feature. The company believes virtual jewellery discovery should offer the same level of accuracy, detail and craftsmanship as the physical retail experience. This is particularly important considering the diversity of its portfolio, where subtle differences in gold colour, gemstone characteristics, diamond brilliance and jewellery proportions significantly influence how a piece appears on the wearer.

Suyash Motarwar, Co-Founder and CTPO of QWEEN,

said the value of Virtual Try-On lies in its ability to accurately represent proportion, movement, colour and material finish. He highlighted that QWEEN’s collection includes seven colours of gold, 100% natural diamonds, and a wide range of 100% natural gemstones, making realistic rendering critical for the luxury buying experience.

He further noted that Perfect Corp.’s PBR-enabled technology provides the visual precision required for luxury jewellery while its self-service authoring capabilities allow the brand to efficiently scale the experience as its assortment continues to expand.

The Virtual Try-On feature will form part of QWEEN’s broader technology-driven discovery ecosystem, which also includes RFID-enabled jewellery, self-service tablets, detailed digital product information, personalised wishlists, and persona-led discovery. The feature is designed to complement the brand’s physical retail experience by allowing consumers to discover jewellery online, save preferred designs, and continue their purchase journey through QWEEN stores and assisted retail touchpoints.

Alice Chang, Founder and CEO of Perfect Corp,

said India’s jewellery market is built on craftsmanship, personal expression and trust, while today’s consumers increasingly expect digital experiences that reflect those values. She added that the collaboration combines hyper-realistic AR try-on with a scalable 3D authoring workflow, enabling QWEEN to showcase the material richness and individuality of each jewellery piece online while supporting the growth of its digital catalogue.

The partnership underscores QWEEN’s strategy of collaborating with globally recognised technology specialists to build a modern, consumer-centric jewellery experience. By combining the emotional appeal and craftsmanship of luxury jewellery with the convenience, personalisation and independence offered by advanced technology, the brand aims to redefine how women discover, experience and purchase fine jewellery.

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