JB Insights
VICENZAORO JANUARY 2024
IEG’s trade show is the global jewellery industry’s choice
Attendance +3% more than 2023 on the 70th anniversary, 141 countries of origin. The United States, Turkey and Spain on the podium. Enhanced hosted buyer programme thanks to ITA – Italian trade Agency
More than 1,300 exhibiting brands
Technologies: T.Gold, showcase of top products for the supply chain. In 2025, the first edition of “The Vicenza Symposium”, a global scientific event
Watchmaking segment consolidated with TIME for B2B. Visitors to VO Vintage up 13%
More than 490 students at the 20 events in the city’s VIOFF programme
Work to start on the new 22,000-square-metre hall: an investment of about Euro 60mn
Vicenzaoro January 2024 exceeds all the most optimistic prior expectations of the Vicenza – Italy gold and jewellery exhibition’s 70-year anniversary. Italian Exhibition Group’s «boutique show» closed today with a 3% increase in attendance at the Vicenza Expo Centre, surpassing last January’s record edition. Moreover, at this edition, six out of ten visitors came from abroad: the global jewellery industry has chosen, Vicenza will be a market hub for the next 70 years. IEG responds with the start of work on the new 22,000-square-meter hall.
THE VICENZAORO JANUARY 2024 NUMBERS
Foreign attendance has been confirmed at 60% of the total, arriving from 141 countries around the world, up from 136 in 2023: with Europe counting 53%, the Middle East 9.3%, Asia 10.5%, Turkey 8%, North America 7.2%, Latin America 5.1% and Africa 4.9%.
Among the most represented individual countries overall: the United States and Turkey; from Europe Spain, Germany, France, Greece and the UK; from the Middle East the United Arab Emirates, while standing out from Asia are India, China, Japan, Thailand and Hong Kong. The largest increases are for China (+188%), Japan (+44%), Colombia (+38%), Brazil (+36%) and France (+25%). Among the new entries at Vicenzaoro: Tanzania, El Salvador and Honduras. Veneto, Lombardy, Tuscany and Piedmont confirm an extremely positive trend for Italian attendance, which saw an overall increase of 3.2% compared to 2023.
T.GOLD ON THE RISE
At this edition, T.Gold, the leading international innovation showcase featuring the most advanced machinery for goldsmithing and the latest processes applied to gold and jewellery, organized in partnership with A.F.E.M.O., saw a 4.7% increase in attendance.
TIMEPIECES.
In the timepiece segment, VO Vintage consolidated its success with exhibitors up 22% for vintage watches and jewellery open to the B2C public, with collectors, experts and watch lovers from Italy and around the world also up +13%.
INDUSTRY AND TRAINING, PASSION MAKES A COMEBACK
Gold and jewellery see restored generational turnover in the labour market. Industry and education meet at Vicenzaoro: 23 schools at the Show, mostly from Italy and from France, Germany and the UK for a total of about 750 students and escorts, all involved in the many initiatives. In the VIOFF programme of city events, Vicenzaoro’s off-show, more than 490 students took part in the 20 events on the calendar.
THE EXPO CENTRE CHANGES FACE, 2024 IS THE YEAR OF WORK ON THE NEW HALL
The close of Vicenzaoro January 2024 will mark the opening of the building site that will return a new layout to the Vicenza Expo Centre for the September 2026 edition. The new 22,000-square-meter hall will replace Hall 2, the historic “snail” built in 1971, and Hall 5, to provide more space for exhibitors and better “navigability” for visitors inside the building. The investment of about 60 million euros is fully financed by IEG.
“THE VICENZA SYMPOSIUM”, THE NEW EVENT ON IEG’S JEWELLERY AGENDA
Italian Exhibition Group’s Jewellery Agenda will be further enriched as of 2025 with a new international event, “The Vicenza Symposium” scheduled to take place from 2 – 4 September. Vicenza will therefore inherit the scientific legacy of the “Santa Fe Symposium” which closed in 2022. A biennial event with a problem-solving approach for companies, the Symposium is the result of IEG’s collaboration with two leading companies in the T.Gold world: Legor and Xolutions.
GLOBAL STAKEHOLDERS AND INSTITUTIONAL PARTNERS
Vicenzaoro January confirmed its role as an international reference point due to the presence of the entire institutional and association world. From Confindustria Federorafi, Confartigianato Orafi, Confcommercio Federpreziosi, CNA Orafi, Confimi Industria Categoria Orafa ed Argentiera to Assogemme, Assocoral and A.F.E.M.O. – Association of Jewellery Machinery Manufacturers and Exporters, CIBJO – World Jewellery Confederation, Ministry of Foreign Affairs and International Cooperation, ITA – Italian Trade Agency.
The community’s next appointment with Vicenzaoro will be from 6th to 10th September 2024.


JB Insights
Gold Rate-Locking and Advance-Booking Ahead Of Dhanteras 2026
The Strategy Is To Mitigate The Impact Of Heightened Price Volatility and Recent Bullion Price Corrections On Consumer Sentiment
Ahead of Dhanteras on November 6, 2026, Indian jewellery retailers are aggressively leveraging advance-booking and gold rate-locking schemes to mitigate the impact of heightened price volatility and recent bullion price corrections on consumer sentiment.
Following subdued sales during Dussehra, retailers are banking on the dual convergence of Dhanteras and the upcoming wedding season to drive robust revenue recovery. Leading national and regional brands report optimistic projections, bolstered by strong interest in both heavy bridal pieces and budget-conscious solutions like lightweight jewellery and old-gold exchanges.
1. Market Context & Bullion Price Trends
Recent gold and silver trading ranges reflect elevated price levels driven by ongoing global geopolitical uncertainty, sustained central-bank purchases, and fluctuations in international currency markets.
- Gold Prices: Standard 10-gram rates are hovering between Rs 1.42 lakh and Rs 1.44 lakh.
- Silver Prices: Standard 1-kilogram rates range from Rs 1.95 lakh to Rs 1.96 lakh.
While high prices have created initial friction, recent price corrections have provided an entry window for consumers, encouraging advance commitments ahead of expected festive demand spikes.
Retail Outlook & Strategic Schemes
To capitalize on festive tailwinds and hedge consumers against potential price surges, major retailers—including Kalyan Jewellers, Joyalukkas, Senco Gold & Diamonds,—have deployed price-protection mechanisms.
Rate-Locking Mechanisms
Advance-booking schemes allow buyers to reserve jewellery by locking in current gold prices. If prices rise before final delivery, consumers pay the lower locked-in rate; if prices decline, consumers benefit from the lower market price at the time of final settlement.
Consumer Buying Patterns & Product Demand
Rising gold rates are bifurcating consumer preferences into two distinct buying trends:
High-Value Bridal & Heritage Segment
Wedding-related purchasing remains a resilient anchor for the market. Consumers continue to allocate budgets toward high-ticket items, including:
- Heavy Gold Pieces: Essential traditional bridal sets.
- Heritage & Polki Work: Intricate traditional craftsmanship.
- Diamond Jewellery: Increasingly favored in modern bridal trouseaus.
Budget Management & Value Optimization
To offset high unit costs for non-wedding or casual festive purchases, consumers are adjusting their buying strategies:
- Lightweight Jewellery: Lower overall grammage to fit fixed budget caps.
- Old-Gold Exchanges: Recycling existing family holdings into contemporary designs.
Key Insight: Senco Gold reported that old-gold exchanges now account for more than 50% of its overall business, underscoring exchange programs as the single most critical driver of sales enablement during high-price regimes.
Operational Outlook & Risks
The immediate business outlook for Indian jewellery retailers hinges on execution during the final days leading up to Dhanteras and the subsequent wedding peak:
- Conversion Metrics: The final festive revenue numbers will depend on the successful conversion rate of advance bookings into finalized, fulfilled sales.
- Margin Protection: While rate-locking drives volume, unhedged price movements pose minor margin risks for smaller retailers lacking robust bullion hedging practices.
- Inventory Management: Retailers must balance inventory stocks between high-margin bridal inventory and fast-moving, lightweight everyday wear.
Indian jewellery retailers are entering the Dhanteras 2026 period with high expectations, relying on structural price-protection tools to overcome earlier seasonal slumps. As advance bookings build momentum, old-gold recycling and rate-locking schemes are effectively bridging the gap between record-high bullion prices and strong consumer appetite for seasonal gold accumulation.
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