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Time of India
14-07-2025
- Business
- Time of India
Silver outshines gold, hits 1.12L/kg
Ahmedabad: Silver outpaced gold in returns this year, with prices in Ahmedabad climbing 30% since Jan 1 to touch a record Rs 1.125 lakh per kilogram on Monday. In comparison, gold gained 28% during the same period, rising from Rs 79,200 for 10g at the start of the year to reach the current Rs 1.015 lakh. The latest spike saw silver prices rise by Rs 2,500 in a single session to go up from Saturday's Rs 1.10 lakh. The white metal's stronger performance is backed by surging industrial demand and tight global supplies. "Silver's outperformance is largely due to increased consumption in sectors like solar energy and electronics. Last week, US President Donald Trump imposed a 50% tariff on copper imports, which will take effect on Aug 1. Since silver and copper are both widely used in industrial applications, especially in electronics and clean energy sectors, if copper becomes more expensive due to tariffs, manufacturers are likely to look for cheaper alternatives like silver," said Haresh Acharya, director of Indian Bullion and Jewellers Association (IBJA). Nearly 60% of silver's global demand now comes from industrial applications, particularly green technologies. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo "With India's bullish push for green energy through solarisation, silver consumption has sizeably increased in the country. With international prices hovering around $39 an ounce, silver is clearly emerging as a safe-haven investment and an essential input for industry," Acharya added. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad Meanwhile, gold price also increased to Rs 1.015 lakh per 10g on Monday. The increasing price of the yellow metal has impacted retail demand for gold. According to jewellers, both gold and silver are gradually getting out of reach of common customers. "A combination of industrial use and investment demand has fuelled the sharp rise, with silver ETFs attracting increasing investor interest as the metal gains attention for its growth potential. Gold and silver are clearly out of reach of customers. Exchange transactions have gone up substantially to 80% over the past six months, since when gold and silver prices increased. People come with old jewellery for repairing it or exchanging it for new. Jewellery trade is clearly muted," said Manoj Soni, member of the Jewellers' Association Ahmedabad (JAA).
Time of India
12-07-2025
- Business
- Time of India
Silver shines at record Rs 1.1 lakh per kg in Ahmedabad
Ahmedabad: Silver prices reached an all-time high of Rs 1.10 lakh per kg in the Ahmedabad bullion market on Saturday, driven by global geopolitical tensions and strong industrial demand. Bullion traders attribute the surge to heightened uncertainties in international markets, including conflicts in Europe and West Asia, alongside growing silver consumption in sectors such as electronics, solar energy, and electric vehicles. "Silver is increasingly seen as a hedge in uncertain times, similar to gold. At the same time, demand from industries is pushing prices up steadily," said Haresh Acharya, director of India Bullion and Jewellers' Association (IBJA). "However, the rally has left jewellers concerned, particularly with the festive season around the corner. With Rakshabandhan approaching, silver coins and gift articles typically witness a spike in demand, but the steep prices may dampen consumer sentiment," he added. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad While investors may see silver as a safe bet, retail buyers are likely to turn cautious. If prices continue to climb, jewellers fear that demand for silver jewellery, bars, and gift items may remain subdued in the upcoming festive months.
Time of India
02-07-2025
- Business
- Time of India
From heirloom to haute: Sky-high gold prices redefine bridal bling in Gujarat
Ahmedabad: Gold may still symbolise prosperity, but in Gujarat's wedding market, it is now coming in lighter, leaner forms. With prices soaring past Rs 1 lakh per 10 grams, brides and families are moving away from traditional 22-carat sets in favour of sleek and lightweight 18K and even 14K alternatives. Tired of too many ads? go ad free now Affordability is shaping aesthetics this wedding season with many opting for those featuring polki, meenakari, jadau, and semi-precious stones. Jewellers across cities report a noticeable drop in weight, but not in style. On Tuesday, the price of gold touched Rs 1,00,400 per 10 grams in Ahmedabad, pushing buyers to make more calculated decisions when planning wedding purchases. Jewellers say footfalls for planned wedding-related jewellery purchases are rising since rath yatra, but the weight of each purchase is literally going down. "Gold is inching beyond the reach of the average bridal buyer," said Haresh Acharya, director at India Bullion and Jewellers' Association (IBJA). "Geopolitical uncertainty and heightened central bank buying are driving prices up. This has nudged a cultural shift away from traditional 22-carat wedding jewellery toward sleeker, lower-carat options." Jewellers and bullion traders also attribute this slump to the shifting dynamics of Indian weddings, where elegance now walks hand-in-hand with budget mindfulness. In Ahmedabad, Jigar Soni, president of the Jewellers' Association, echoed the shift: "The price of gold is forcing families to rethink the size and weight of wedding ornaments. Instead of full-weight neck pieces and bangles, there is a growing preference for lightweight, designer-driven jewellery that combines lower-carat gold with intricate polki, Meenakari, jadau, and stone work." Jewellers say today's bride is focused on function, form, and flair. Tired of too many ads? go ad free now "Millennial and Gen Z couples want jewellery that reflects personal style and practicality," said Manoj Soni, a jeweller in Ahmedabad. "Rings, bangles, and bracelets in 14- or 18-carat gold allow for better strength, more colours, and intricate detailing, without breaking the bank." The shift is also evident in consumer behaviour. "Younger couples are moving away from heirloom sets toward custom statement pieces," said Soni. "There's an increasing demand for modular, lightweight sets that can be reused or reworked after the wedding." He added, "Several jewellers in Surat, Vadodara, and Rajkot report a spike in demand for custom bridal sets under 100 grams, which balance form and function without compromising on festive grandeur." Jewellers also noted minor interest in 10- and 12-carat gold, prompting discussions in the industry on the need to standardize these carat values for quality assurance.
Time of India
02-06-2025
- Business
- Time of India
Gold ETF AUM rise in Gujarat over soaring prices, low jewellery demand
Ahmedabad: Physical gold demand took a backseat over the past 3-4 months due to soaring international prices and subdued jewellery demand. As a result, investors in Gujarat are increasingly turning to digital gold. This shift has pushed the state's Gold Exchange-Traded Fund (ETF) assets under management (AUM) up by over 27% in the first four months of 2025. Data from the Association of Mutual Funds in India (AMFI) revealed that Gold ETF AUM in Gujarat grew from Rs 681.53 crore on Jan 1 to Rs 867.49 crore on April 30. The increase was steady month-on-month, with April alone seeing a jump in AUM to Rs 867.49 crore, from Rs 828.51 crore in March. According to industry experts, gold is certainly becoming an important asset class in investor portfolios given its gains over the past few years. "In merely five years, the returns on gold doubled, as a result of which many investors are turning to the digital form of the yellow metal, which enables them the flexible option of low-cost investment without having to worry about safety," said a city-based financial advisor. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo Gold prices in the Ahmedabad market settled at Rs 99,500 per 10g on Monday. Bullion industry players attribute this rise to a growing investor preference for gold as a financial asset rather than an ornamental one. Haresh Acharya, director, India Bullion and Jewellers' Association (IBJA), said, "Ongoing geopolitical tensions have driven gold and silver prices sharply upward, prompting a clear shift in investor behaviour. With gold prices consistently hovering above $3,300 per ounce, traditional retail demand has softened. More investors are now opting for Gold ETFs as the digital route offers ease of transaction, need for less compliance, and easy liquidity. The market is moving in tandem with global cues, and this trend is likely to continue as long as price volatility persists." Gold ETFs, which offer transparency, liquidity, and no storage hassles, have gained traction among urban investors, particularly in Gujarat's major cities such as Ahmedabad, Surat, and Rajkot. Market participants note that ETFs allow retail and institutional investors to take exposure to gold price movement without the need to deal with making charges or purity concerns. (GFX sent to designers) Box: Gold ETF Demand Month AUM (in Rs cr) % Change Dec (2024) 681.53 0.89 Jan (2025) 741.14 8.75 Feb 784.07 5.79 Mar 828.51 5.67 Apr 867.49 4.70 Source: AMFI
Time of India
30-04-2025
- Business
- Time of India
Gold sales crash 60% on Akshaya Tritiya in A'bad
1 2 Ahmedabad: Gold may have glittered, but buyers in Ahmedabad gave it the cold shoulder on Akshay Tritiya. With gold prices and summer heat both peaking beyond comfortable levels, sales plunged nearly 60% compared to last year, Jewellers' Association of Ahmedabad (JAA) said. Jewellers reported a meagre 50kg of gold sold on Tuesday, a stark contrast to the 150kg bought on the same day in 2024. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad Trading at a scorching Rs 98,000 per 10g, gold remained too hot to handle for most customers. Even as prices cooled marginally by Rs 1,000 on Wednesday, the damage was done. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Sunderland: Born Between 1940-1975 You May Be Eligible For This Life Cover Reassured Get Quote Undo "Demand remained muted. There were barely any walk-ins, no pre-bookings either. Gold touched Rs 1 lakh a few days ago — that shook the sentiment of investors. Even with attractive offers on making charges, customers simply didn't turn up," said Haresh Acharya, director, India Bullion and Jewellers' Association (IBJA). Jewellers who had geared up for the auspicious rush found themselves delivering old pre-orders with barely any new sparkle walking in. "Sales in Ahmedabad were down by around 60% this year. Customers mostly opted for gold and silver coins in small denominations, while jewellery buying was negligible. There was barely any jewellery buying, maybe some 14 or 16 carat here and there, but that's about it. Eighty percent of what we sold was coins and bars," said Jigar Soni, president, JAA. The combo of sky-high prices and skin-scorching weather proved to be the worst recipe for what's typically one of the brightest days for the bullion business. Some shoppers who didn't want to skip the auspicious date entirely turned to silver, but even that saw only modest movement. Bullion trader Hemant Choksi summed up the mood: "There was barely any jewellery movement. The heatwave has truly sizzled the shine out of Akha Trij. Most of the action was limited to small coin purchases — 1g and 2g in gold, and 10g to 20g in silver." In a year when gold became too rich — and too hot — for comfort, sentiment fizzled faster than molten metal. P 11
