Latest news with #MalabarGold
Khaleej Times
2 days ago
- Business
- Khaleej Times
UAE: Gold jewellery sales to pick up slightly as summer travel season begins
Gold and jewellery sales are expected to pick up ahead of the summer holidays, as residents purchase gold jewellery as gifts, wedding presents, or to mark personal milestones when they travel back to their home country. However, given the reduced price arbitrage between the UAE and certain Asian countries, the trend is expected to be muted, according to jewellers in Dubai. A large number of families travel for vacations during the two-month summer break to their home countries, spending a significant amount of their budget on gifts, including gold and diamond jewellery. Local jewellers said they cater to this demand by offering lightweight, travel-friendly designs, customised gifting solutions and attractive seasonal offers tailored for outbound travellers. 'The onset of summer vacation and the subsequent travel plans of residents always bring with increased sales in jewellery. With expats planning to travel to their home countries, we see an increased demand for mostly lightweight articles that are an ideal gifting choice,' said Shamlal Ahamed, managing director for international operations at Malabar Gold & Diamonds. 'We do see a noticeable uptick in jewellery purchases during the summer months — especially among expatriates who travel home. Many choose to buy gold jewellery before flying out as gifts, wedding presents, or to mark personal milestones back home,' Joyalukkas said in a statement. 'Gold from Dubai is still widely considered a symbol of quality and purity; furthermore, buying here offers price advantages and design variety. Whether it's a pair of elegant bangles for a mother, a solitaire for a sibling, a gold chain as a cherished keepsake or ornaments for an upcoming wedding - these purchases often carry deep emotional value beyond the price tag,' said the statement. Echoing his industry peers, Anuraag Sinha, managing director of Liali Jewellery, added that sales often pick up during summer in Dubai despite the heat as many residents buy gold or diamond jewellery as gifts for family before travelling to their home countries. In addition, he said the inflow of tourists from the GCC, Dubai Summer Surprises and community events like weddings and aggressive discounts by jewellers boost sales. Aditya Singh, head of international jewellery business at Titan Company, said there has been a trend in past years where Indian and Asian customers, before travelling to their home countries, used to buy gold for their families. 'However, the trend is expected to be muted, given that the price arbitrage has reduced between the countries. Many people also take vacations during the summer period, and therefore, jewellery sales tend to become muted. Fewer tourists coming to Dubai during summer months also have an impact on sales,' added Singh. However, Dubai has been promoting the Dubai Summer Surprises offer period during July and August, making it a good time to buy jewellery for those looking for good bargains, he added.
Time of India
24-04-2025
- Business
- Time of India
Gold hovers around Rs 1 lakh ahead of Akshay Tritiya on April 30: Check 22K gold prices today of Malabar Gold, Joyalukkas, Kalyan Jewellers, Tanishq
Gold prices reached a historic milestone ahead of Akshaya Tritiya, which is considered auspicious in India for buying gold. On Tuesday (April 22, 2025), the precious yellow metal briefly crossed the Rs 1-lakh mark per 10 grams for the first time, thanks to the demand fuelled by global economic uncertainty, persistent inflationary pressures, and increased investor interest in safe-haven buying. However, the rally was short-lived, as prices corrected. But the gold is still hovering near its historic highs, prompting market watchers and investors to analyse the factors behind this rapid fluctuation. Income Tax Guide Income Tax Slabs FY 2025-26 Income Tax Calculator 2025 New Income Tax Bill 2025 Akshaya Tritiya on April 30 Akshaya Tritiya, also known as Akha Teej, is an important Hindu spring festival that is celebrated with great reverence throughout India. The day falls on the third tithi (lunar day) of the Shukla Paksha (bright half) of the Hindu month of Vaisakha. This year, it falls on April 30, 2025. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Jalalpur: The price (& size) of these hearing aids might surprise you Learn More Undo Akshaya Tritiya is considered one of the most auspicious days in the Hindu calendar, free from the need to consult a muhurat (an astrologically favourable time) to begin any new venture. Importance of gold on Akshaya Tritiya On this day, families go to jewellers to buy gold bars, coins, and jewellery because they think that any wealth they make on Akshaya Tritiya will grow and bring them benefits all year long. This stance has also been leveraged by banks and other financial institutions recently, who have offered mutual funds, digital gold investments, and gold savings plans that coincide with the festival. Live Events Let's examine the prices of 22 karat gold of a few famous jewellery brands in India as of April 24 (01.40 PM IST). Please note that these rates exclude GST and making charges. Check the gold jewellery rates of Malabar Gold, Joyalukkas, Kalyan Jewellers, and Tanishq: Kalyan Jewellers The latest price for 22K gold jewellery at Kalyan Jewellers is Rs 9,005 per gram (as of April 24, 2025). Tanishq Tanishq's latest price for 22K gold jewellery is Rs 9,055 per gram (as of April 24, 2025). Malabar Gold & Diamonds Malabar Gold's latest price for 22K gold jewellery is Rs 9,005 per gram (as of April 24, 2025). Joyalukkas The latest price for 22K gold jewellery at Joyalukkas is Rs 9,005 per gram (as of April 24, 2025). The India Bullion and Jewellers Association Ltd. (IBJA) has released the latest indicative retail selling sales prices for gold jewellery as of April 24, 2025. These rates serve as a benchmark for pricing in the Indian market and are updated twice daily (AM and PM). Gold prices per gram (excluding 3% GST and making charges) 999 (24K Fine Gold): Rs 9,608 22K Gold: Rs 9,377 20K Gold: Rs 8,551 18K Gold: Rs 7,782 14K Gold: RS 6,197 Important things to note: The rates mentioned above are per gram. The jeweller usually quotes a 10-gram rate. Hence, one can multiply the above rate by 10 to get an indicative 10-gram price. The prices above do not include 3% GST and making charges, which may vary based on the jeweller's policies. Gold rates may fluctuate between jewellers due to factors such as transportation costs, insurance charges, and additional overhead expenses. IBJA's published gold rates serve as a benchmark for issuing Sovereign Gold Bonds (SGBs) and are aligned with notifications from the Ministry of Finance and the Reserve Bank of India (RBI). What is the method for calculating the price of gold jewellery? Here is the formula used by jewellers to calculate the final price of gold jewellery: Final price of the jewellery = {Price of gold X (weight in grams)} + making charges + GST at 3% + hallmarking charges.
