National News
Surge in Gold Prices Triggers Flood of Sellers in Asia and the Middle East

As gold prices soar to record highs, jewellers across Asia and the Middle East are witnessing a growing trend of customers selling off old jewellery and coins, leading to a noticeable decline in demand for new pieces. If this selling spree persists, experts warn that it could slow down imports into key markets, potentially dampening the ongoing rally in gold prices.
Spot gold hit $3,000 per ounce for the first time on March 14, continuing to climb last week, marking an impressive 15% increase year-to-date, driven by global political and financial uncertainty. The price surge follows a nearly 30% jump in 2024, prompting a rise in business for scrap gold buyers in India’s Zaveri Bazaar, the country’s largest bullion market.
Unmesh Patel, a textile trader in India, recently earned a 25% return on four 10-gram gold coins purchased less than seven months ago, after the Indian government reduced import duties on gold. Patel chose to sell instead of waiting for prices to rise even further. Domestic gold prices in India have risen over 32% since the import duty reduction, reaching a record high of 89,796 rupees per 10 grams.

According to Prithviraj Kothari, president of the India Bullion and Jewellers Association (IBJA), if these high prices persist throughout the year, India’s overall gold demand could fall by more than 30% in 2025. With budgets stretched, buyers are increasingly unable to keep up with soaring prices.
Despite it being India’s wedding season, jewellers are seeing significantly reduced foot traffic, with many customers opting to exchange old jewellery for new in order to manage costs. India’s scrap gold supply, which totaled 114.3 tons last year, is expected to rise in 2025, further reflecting these changes in consumer behavior.
Similar trends are evident in the Middle East. In Dubai, a key jewellery hub, a decline in demand is being noted, with many Indian tourists opting to hold off on purchases, despite the appeal of avoiding import taxes. In the UAE, where 60% of gold demand is for jewellery, consumers are gravitating toward lower-weight products in response to high prices.
China, the world’s largest gold consumer, is also seeing a dip in retail gold purchases, with many buyers turning to coins and bars rather than paying premiums for crafted jewellery. Other major Asian markets are experiencing the same shift toward selling existing gold or using it as loan collateral.
These market dynamics reflect a delicate balance between gold’s cultural significance as a commodity and its growing role as a financial asset. Looking forward, experts predict continued strong demand for gold bullion, but the outlook for jewellery sales remains uncertain.

National News
Aspect Bullion & Refinery to launch 50 gold and silver vending machines nationwide on Akshaya Tritiya

Aspect Bullion and Refinery, a division of Aspect Global Ventures, has announced plans to roll out 50 gold and silver vending machines in the next 12-18 months. These state-of-the-art bullion vending machines have been indigenously developed by Aspect Bullion, assuring complete control over the planogram, software backend, and customer interface, reinforcing Aspect Bullion’s commitment to innovation, transparency and consumer trust. Strategically designated to be placed at high-footfall locations such as major malls, airports, temples, airports and more, the vending machines are designed to make purchasing precious metals faster, safer, and more accessible than ever before. Very soon, the brand will open another store in Mumbai and begin exploring franchise opportunities across India.
In the lead-up to Akshaya Tritiya — a festival synonymous with prosperity and gold purchases — Aspect Bullion has unveiled its first bullion vending machine at R City Mall, Ghatkopar, Mumbai. Shoppers can experience this innovative offering firsthand from April 26 to May 4, 2025.

Commenting on the initiative, Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures said, “Gold and silver have always been an important part of India’s culture and traditions. With our vending machine, we are combining tradition with technology to make buying precious metals easier, safer, and more transparent. Our goal is to give people a simple, convenient, and trusted way to invest in gold and silver. We are proud to launch India’s first bullion vending machine, and we believe this will change how consumers buy precious metals, especially during important occasions like Akshaya Tritiya.”
Each vending machine will offer a curated range of gold and silver coins and bars, featuring exclusive designs and premium packaging. Equipped with real-time market pricing, customers can view live rate updates at the point of purchase.
Security has been a top priority: the machines feature biometric authentication, live CCTV surveillance, backend tracking, and robust anti-tampering technology. Purchases can be completed in under three minutes using a variety of payment options, including UPI, Google Pay, and debit/credit cards. A digital and printed receipt is provided instantly, making the process seamless — simply select, pay, collect, and go. This seamless process allows customers to take spot possession of gold and silver coins, making the purchasing experience truly worthwhile
Aspect Bullion’s vending machine rollout marks a significant shift toward a modern, tech-enabled future for bullion retail in India — while staying true to the tradition and trust that gold embodies.
National News
Gold prices in India, international market dip sharply

Gold prices in India today fell sharply just two days ahead of the major gold-buying festival, Akshaya Tritiya 2025, which will be celebrated on April 30 (Wednesday). The gold rate in India at the beginning of this week showed signs of weakness, following the global spot gold price trend.
As of Monday, April 28, the 22-carat gold rate in India slipped massively by Rs. 620 per 10 grams to cost Rs. 89,400 per 10 grams. While the 24-carat gold prices today dropped hugely by Rs. 680 and are currently at Rs. 97,530 per 10 grams. Similarly, the 18-carat gold rate today retails at Rs 73,150, which dropped by Rs 510.
Gold rates in India are mirroring international market movements. US Gold prices dropped on Tuesday as softening trade tensions between the U.S. and its trading partners dulled the metal’s safe-haven appeal, while investors awaited U.S. economic data to assess the Federal Reserve’s policy path.Spot gold was down 0.8% at $3,314.65 an ounce, as of 0619 GMT. U.S. gold futures lost 0.7% to $3,324.20.
National News
Hari Krishna Exports Mumbai Office celebrates sports day 2025 with energy and smiles

Hari Krishna Exports’ Mumbai office came alive with cheers, excitement, and team spirit during the Annual Sports Day 2025.The event was organized to promote better health, stronger unity, and a sense of teamwork among employees.
Esteemed dignitaries from the diamond industry, along with Ghanshyambhai Dholakia and his family, graced the occasion and encouraged everyone with their presence.
The day began on a heartfelt note with the National Anthem, setting a patriotic tone. Soon after, the field lit up with energy as the games began in full swing.
From cricket tournaments and volleyball to ring football, tug-of-war, kabaddi, kho-kho, running races, and box cricket — both male and female employees participated enthusiastically with bright smiles.
It was wonderful to see everyone, from the youngest members to senior leaders, stepping onto the field with equal excitement.
Winners and runners-up were rewarded with cash prizes, diamond jewelry, branded shoes, and sports watches — a token of appreciation from Hari Krishna Exports for their efforts and team spirit.
To beat the summer heat, ORS water stalls were set up, and a delicious lunch was arranged for everyone.The event was even more special as employees’ families were also invited. Their cheers and support added warmth and joy to the entire atmosphere.

Ghanshyam Dholakia, our visionary founder, shared heartfelt words, praising the energy, effort, and passion shown by every member present.He said, “I saw the energy and love for sports in every participant, from the youngest to the oldest. It made me very happy.””My Hari Krishna team is like my family. I will continue to organise such activities every year with this familyEven those who did not win in this competition are winners for me.”
Sports Day 2025 was not just a celebration of fitness and fun but also a beautiful reminder of the togetherness that makes Hari Krishna Exports truly a family.
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