International News
WGC Report: Central banks continue their great gold grab in November 2024
Based on available reported data, central banks bought a net $3B in November. The National Bank of Poland (NBP) was the biggest buyer with a total of 29 tonnes reported, its first addition ($3B) since April. The Monetary Authority of Singapore was the biggest seller, while the central bank of Finland also announced a reduction in its gold reserves.
Assessing the final act of 2024, central banks around the world continued to play a leading role in the gold market, with the data reported, central banks collectively added a net $3B of gold to their official reserves based on available reported data. This extends the broader trend observed throughout the year where central banks – in particular those from non-Western markets – have remained keen buyers of gold, driven by the need for a stable and secure asset amid global economic uncertainties. The gold price dip in November, following the US election, provided a solid entry point for buyers with added impetus to accumulate.
International News
GJEPC Promotes Key Trade Events At IGI Dubai Event
The Dubai Event Created Opportunities For Participating Indian Exporters To Connect Directly With Potential Buyers.
GJEPC stepped up its international buyer outreach for IIJS Bharat – Signature 2027, IGJS Jaipur and IJEX at an industry event organised by the International Gemological Institute (IGI) in Dubai.
Held at the Almas Tower Ballroom in Jumeirah Lake Towers, the IGI Ornamental QC Seminar brought together an audience of more than 70 jewellers, with leading retailers including Jawhara, Joyalukkas, Tajvi, Vinsmera, La Marquise, Bhima and Cara among the expected participants.
Ashish Sakhardande, Head – IJEX, GJEPC, represented the Council and delivered a presentation on its upcoming exhibitions and initiatives, placing particular emphasis on IIJS Bharat – Signature 2027, IGJS Jaipur and IJEX, highlighting its new features and inviting UAE buyers to register for the Mumbai and Jaipur shows.
The UAE remains an important market for Indian jewellery exporters, making direct engagement with retailers and jewellery companies a key part of the buyer mobilisation strategy.
The Dubai event created opportunities for participating Indian exporters to connect directly with potential buyers. Business meetings and networking interactions were facilitated with several UAE-based companies, allowing exporters participating through IJEX to develop new commercial contacts.
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