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India’s gold imports to decline  85%

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India’s gold imports are set to decline  85% in February from year ago levels to their lowest in 20 years, with demand sapped by record prices for the precious metal. Lower gold imports could help India narrow its trade deficit and support the rupee that is trading near record low against the dollar. India is the world’s second biggest consumer of the precious metal.

Spot gold prices hit a record high of $2,956.15 per troy ounce on Feb 24.India’s gold imports in February are likely to fall to around 15 metric tons, the lowest for the month in at least two decades, from 103 tons in February, 2024,

Some banks have reportedly even moved imported gold stored in customs-free zones in India to the US, where prices are offering a premium.

The sharp import decline comes despite India’s ongoing wedding season, traditionally a period of high gold demand. Weddings are a major driver of gold purchases in India, where jewellery plays a crucial role in bridal attire and gifting customs.

While gold demand remains under pressure, industry experts believe any significant price correction could reignite buying interest in the coming months.

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BrandBuzz

Mavitrra Launches “The Amara Collection” – A Timeless Celebration of Bridal Grandeur and Festive Luxury

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Mavitrra, the elegant and stylistically unique and masterfully crafted bespoke diamond jewellery brand, has just come up with its latest creation this Diwali season. The Amara Collection, an alluring and timeless luxury bridal and festive jewellery collection that stays radiant and adds value to your wardrobe for the coming years.

“The Amara Collection” defines the beauty and sophistication of a lifetime, with pieces that are impeccably designed using natural diamonds and hallmark white and yellow gold. Each piece honours the glory of Indian celebrations and the opulence of bridal extravagance, combining ageless charm with modern artistry.

The idea of “Shining Beyond Time” has been the core of designing the collection, representing the concept in all the jewellery pieces.  This is a collection of timeless masterpieces ranging from elegant diamond bangles and statement bridal rings to delicate yet grandeur evoking Lotus Earrings, all crafted in exquisite yellow and white gold. The essence of Mavitrra’s concept of artwear serving as a medium of expressing one’s unique personality and feelings is there in every intricate ornament.

“The beautiful, Amara collection is a nod to the spirit of the contemporary Indian woman, the bright, the strong and the timeless one,” states Bindu Sharma, the Founder and Creative Director of Mavitrra. She adds, “Every piece epitomises elegance, history, going far beyond ongoing fashion.”

Mavitrra specialises in custom-tailored luxury and blends proven manufacturing techniques with the highest quality inputs and a qualitative design to produce not merely luxurious jewellery but significant ones. From the custom bridal sets to the singular heirloom designs, each creative work is backed up by a certificate of excellence and made to perfection by hand of the master artisans.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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