National News
India’s gold demand improves as prices dip
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.
GJEPC’s Sydney leg brought together 32 participants, including 15 representatives from 9 leading jewellery brands, 8 visiting delegation members, CG Office representatives and event partners.
The outreach connected Indian exporters with Australia’s independent jewellery network through a day of industry engagement, showroom visits and business interactions.
The programme included visits to Altmann & Cherny, ABC Showroom and Queen Victoria Building, followed by the official delegation dinner at Doltone House.
Participating jewellery brands: Excellent Jewellers, Altmann & Cherny, Roberto Mattei Jewellery Design, Ashmi Jewellers, Malabar Gold & Diamonds, Nicole Winkler Jewellery, Joyalukkas, RB Diamonds and Lords Jewellers.
With India’s gems & jewellery exports to Australia reaching US$374.33 million in FY2025–26, the Sydney outreach further strengthened industry connections and explored new opportunities under the India–Australia ECTA.
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