Latest news with #IndiaBullionandJewellers'Association
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
22-04-2025
- Business
- Time of India
Bullion bonanza: Gold price soars to 1.02L in Ahmedabad markets, investors gain big
1 2 Ahmedabad: The glitter of gold has never been this bright, ever! On Tuesday, the yellow metal blazed past the Rs 1 lakh mark, dazzling retail markets at a whopping Rs 1,02,000 (Rs 1.02 lakh) per 10 grams, a first-ever feat that has jewellers wide-eyed and investors watching every tick. Globally, gold surged to $3,396.57 per troy ounce, while the rupee's slump to 85.19 against the dollar added rocket fuel to the local price rise. In just under five years — 1,763 days to be precise — gold doubled, from breaching Rs 50,000 per 10g in June 2020 to its present jaw-dropping summit. Investors who bet on bullion struck glittering gold — quite literally. Since June 24, 2020, when prices first crossed Rs 50,000, gold in Ahmedabad doubled, delivering a 100% return in under five years. Even those who entered the market at the start of this year haven't been left behind — gold surged nearly 23% since Jan 1, 2025, when it hovered around Rs 83,000 per 10g. For sharp-eyed investors who jumped in exactly a year ago on April 22, 2024, when the yellow metal was priced at Rs 75,200, the gain is a spectacular 35%. Silver, too, sparkled up nearly 16% in the same period, from Rs 83,000 per kg to Rs 96,500. It's been a stellar year for precious metals, proving yet again why gold and silver remain the go-to safe havens when uncertainty reigns. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Vor 2000 geboren? Dieses Spiel ist für Dich! Heroes of History Jetzt spielen Undo Haresh Acharya, director of India Bullion and Jewellers' Association (IBJA), said, "It's a potent mix of factors, from Trump's renewed pressure on the US Fed to central bank gold hoarding amid de-dollarisation. Add in recessionary fears, inflation jitters, ETF inflows, and escalating geopolitical tensions, and you have got a global cocktail that's spiked the bullion buzz." "In 2025 alone, gold climbed 30%, extending its rally towards $3,500. Much of this rise already priced in a medley of international tremors — from US-China tariff wars and Russia-Ukraine tensions to stagflation concerns in the West. And yet, there could still be a hidden trigger out there, yet to unfold," Acharya said. The precious metal's golden sprint, up from Rs 99,500 just a day ago, signals not just financial anxiety but full-throttle festive sentiment. Akshaya Tritiya is around the corner, and even with the sky-high price tag, Gujarat's love affair with gold shows no signs of cooling. "The emotional and cultural pull of gold on auspicious occasions like Akshaya Tritiya keeps demand strong. Price is no deterrent. However, this time, the price surpassed a psychologically high level and therefore, it remains to be seen how the sales pan out even for coins and bars," said Hemant Choksi, bullion trader at Manek Chowk. Meanwhile, silver is close on gold's heels, now priced at Rs 96,500 per kg, reminding investors that even the white metal is no longer cheap. Box:
