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
BrandBuzz
Senco Gold & Diamonds celebrates Navratri with festive offers
Up to ₹1,000 off per gram on gold jewellery | Up to 50% off on diamond jewellery making charges | Up to 25% off on diamond value | 0% deduction on old gold exchange + 1 Karat per gram extra
As Navratri ushers in nine days of celebration, devotion and auspicious new beginnings, Senco Gold & Diamonds marks the festive season with a special jewellery offering designed to bring greater value to every purchase. Customers can avail up to ₹1,000 off per gram on gold jewellery, up to 50% off on making charges on diamond jewellery, up to 25% off on diamond value, and 0% deduction on old gold exchange along with 1 Karat per gram extra. The festive offers are available across Senco Gold & Diamonds stores and online. Terms and conditions apply.
Jewellery has always had a natural place in the festive calendar – whether it is a new piece bought to mark an auspicious occasion, a gift for a loved one or an upgrade to an existing collection. With Navratri also marking a season of dressing up and coming together with family, Senco Gold & Diamonds’ festive offering brings together choice, value and the opportunity to make a meaningful jewellery purchase.
Speaking on the occasion, Joita Sen, Director and Head of Marketing and Design at Senco Gold & Diamonds, said, “Festivals are increasingly becoming occasions when jewellery purchases carry both emotional and personal significance. Navratri, in particular, brings together the joy of dressing up, family traditions and the excitement of new beginningsAt Senco Gold & Diamonds, we believe every customer should be able to celebrate the festive season in their own way, whether by choosing a new piece of gold or diamond jewellery or exchanging an existing piece for something they love.
Ultimately, jewellery is about marking moments that matter, and our festive offering is designed to add greater value to that experience – whether it is a purchase for oneself, a gift for someone special or a piece that celebrates a new beginning.”
For gold jewellery purchases, customers can avail up to ₹1,000 off per gram, making it an attractive time to shop for gold during the festive season. Those purchasing diamond jewellery can benefit from up to 50% off on making charges and up to 25% off on diamond value, across eligible products.
The festive season also presents an opportunity to rethink existing jewellery. Customers exchanging old gold can avail 0% deduction on old gold exchange, along with 1 Karat per gram extra, offering an added benefit for those looking to upgrade or refresh their collection.
Looking ahead to Dhanteras, Senco Gold & Diamonds will also offer its Dhanteras Flexi Advance Gold initiative. The offering allows customers to book their gold purchase at prevailing rates, with the flexibility to benefit if gold prices fall, while retaining the locked-in rate if prices rise.
Together, the festive initiatives are designed to make jewellery buying more flexible and rewarding through one of the most important periods of the jewellery calendar – while giving customers more reasons to celebrate, upgrade and mark the season with something meaningful.
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