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India’s gold demand improves as prices dip

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Gold demand in India saw a slight improvement towards the week’s end as prices fell from record highs, yet remained below normal levels. Discounts in China persisted due to low activity, and India’s imports are predicted to drop significantly by 85 per cent in February. Meanwhile, gold trades in Singapore, Hong Kong, and Japan show varying premiums and discounts.

India’s gold demand improved in the second half of this week but remained lower than normal as prices retreated from all-time-high levels, while traders continued to offer discounts in China as activity remained lacklustre. Domestic gold prices were trading around 84,750 rupees per 10 grams on Friday after hitting a record high of 86,592 rupees last week.

Indian dealers this week offered a discount of $12-$27 an ounce over official domestic prices, inclusive of 6 per cent import and 3 per cent sales levies, down from the last week’s discount of $35.

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National News

Challani Jewellery Mart Marks 13th Anniversary with Grand Celebrations and Employee Recognition

Grand Event Honours Employees With Rewards and Recognises Contributions, Celebrating Growth, Unity, and Organisational Milestones

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Challani Jewellery Mart, with a strong presence across Chennai, Madurai, and Pondicherry, celebrated its 13th Anniversary at the Sheraton Grand Chennai Resort & Spa in a grand and vibrant ceremony.

The event witnessed the presence of distinguished personalities, including Ravi, IPS, Isari Ganesh, Vikramaraja, Varadarajan, Sowbhagya, Jayantilal Challani, Hemalatha Jayantilal, Rishub Challani, Goutham Challani, and Sripal Challani, along with several other notable guests.

A key highlight of the celebration was the recognition of employees, where 52 staff members were rewarded with televisions, washing machines, and refrigerators for their dedication. In a remarkable gesture, 8 employees were also gifted plots worth ₹15 lakh each, acknowledging their significant contribution to the company’s growth.

The gathering was further enriched by inspiring addresses from Erode Magesh and Ramakrishnan, whose speeches resonated with the audience. The event also featured lively dance performances by staff, adding energy and entertainment to the celebrations.

The day was marked by a spirit of achievement, appreciation, and camaraderie, making it a memorable milestone for the organisation. The event concluded with a vote of thanks by Elayaraja, Vice President, bringing the celebrations to a close on a note of gratitude.

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