National News
Gold discounts in India widened this week to their highest point in nearly eight months
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
GIVA, one of India’s leading omnichannel fine jewellery brands, today announced the launch of its GIVA GOAT Sale, one of the brand’s biggest online shopping events of the year. Running from July 4 to July 12, exclusively on www.giva.co, the limited-time sale brings together some of GIVA’s best offers across its silver jewellery collection.
Built around the theme of “GOAT Discounts” and “The Greatest Offers of the Year,” customers can shop up to 60% off sitewide for a limited period. As part of the campaign, shoppers can also unlock free silver jewellery worth up to INR 3,000 through special promotional codes available during the sale.
With festive and gifting occasions around the corner, the GIVA GOAT Sale aims to make premium silver jewellery more accessible, giving customers an opportunity to refresh their everyday collection or find thoughtful gifts at exceptional value.
Commenting on the announcement, Anirudh Kudva, Chief Revenue Officer, GIVA, said:
“The GIVA GOAT Sale is one of our biggest online shopping events yet. We wanted to create an experience that genuinely excites customers, not just through attractive offers, but by making quality silver jewellery more accessible than ever before. Along with up to 60% off sitewide, customers can also enjoy exclusive rewards and free silver jewellery during the campaign. It’s our way of thanking the millions of customers who continue to choose GIVA for everyday wear, gifting and milestone moments.”
The sale will feature GIVA’s extensive range of silver jewellery across earrings, rings, pendants, necklaces, bracelets, anklets and more, catering to a wide range of styles and occasions. Exclusive offers and promotional codes will be available only on GIVA’s D2C website and app throughout the campaign.
As the GIVA GOAT Sale is available for a limited period, customers are encouraged to shop early to make the most of the offers before the campaign concludes on July 12.
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