Latest news with #RajeshRokde
India Today
24-07-2025
- Business
- India Today
Old is gold indeed: Why jewellery exchange plans are a hit with Indians
Gold prices hovering at an all-time high of around Rs 1 lakh for 24-carat gold per 10 grams has put affordability of the yellow metal in question, with many consumers now preferring to make purchases by exchanging their old jewellery.'We see this trend gain real traction in recent times. Currently, nearly 25 per cent of our consumer base actively opts for exchange programmes when buying jewellery. This was much lower a few years ago,' says Rajesh Rokde, chairman of the All India Gem and Jewellery Domestic Council (GJC).advertisementSandeep Kohli, CEO of jewellery brand Indriya, affirms that gold exchange programmes have become an important driver of business as more consumers seek to get value out of their old jewellery and use that, along with additional money, to buy new designs. 'An old gold exchange programme helps consumers part-fund their aspiration of buying new jewellery,' says is a win-win for all—the brand and the consumers. 'Consumers get a new design without having to pay the full amount, and they are giving away old pieces of jewellery. A jeweller gets a customer who would have otherwise not purchased if having to pay the full amount,' says Kohli. Another key reason driving this demand is the hallmarking of gold, which has been made mandatory by the government, making consumers feel secure in the value of the gold they are selling and receiving. 'With hallmarking, gold is no longer a locked investment but a usable asset—one that retains worth and can be repurposed into new designs that suit evolving tastes and occasions,' says though, offers a word of caution. Consumers should ensure their gold is hallmarked. They should also verify exchange policies and understand the making charges involved before opting in. 'Clarity is everything in these programmes,' he vetting old gold exchange offers, Kohli says that jewellers deduct a certain percentage for old gold that is below 22 karat. If jewellery has a lower karat core and 22 karat on the surface, it would be difficult to detect without melting. Many times, customers realise the deduction only after their old gold is melted, which many a times leaves them with no option but to accept the deducted price of lower karat it is important for customers to check for deductions before going for any old gold exchange offer, advises Kohli. For fairness, he adds, Indriya offers 100 per cent exchange value for the old gold at the day's prevailing rate irrespective of the karatage of the old to India Today Magazine- EndsTrending Reel
Time of India
23-07-2025
- Business
- Time of India
Gold, silver touch all-time high in domestic market
1 2 3 Nagpur: Gold and silver prices have reached all-time highs in the domestic market, with the precious yellow metal trading at Rs1,09,000 per tola (10 grams) and silver at Rs1,16,700 per kg. Internationally, gold remains below its 2022 peak of $3,500 an ounce, but a weaker rupee has pushed prices to record levels in India. Silver is just over a dollar shy of its 12-year high of nearly $50 an ounce, with international rates above $48 on Wednesday. Traders attribute the surge in precious metals prices to increased Indian imports ahead of the festive season, coupled with uncertainty over US trade policies and Federal Reserve's rate decisions. In times of economic uncertainty, funds typically flow into gold as a safe-haven asset, with de-dollarization also playing a significant role, they said. Rajesh Rokde, president of Gems and Jewellery (Domestic) Council (GJC), noted that gold prices stood at $3,500 in 2022. On Wednesday, prices hovered around $3,430, dropping to approximately $3,300 as US markets opened on Wednesday and it was night in India. Despite current gold prices being about $200 below the peak, the weaker rupee has kept domestic gold rates elevated. Even in the US, prices are roughly $200 higher per ounce than they were a month ago.
Time of India
05-06-2025
- Business
- Time of India
Silver hits new peak of Rs 1.04 lakh/kg amid global, industrial push
Silver touched a new high of Rs 1,04,675 per kg on Thursday. The precious metal crossed the Rs 1 lakh mark on June 3 and was trading at Rs 1,00,980 per kg. 'The increase in silver prices was largely expected, given gold's extraordinary performance, which set the stage for silver's growth. Despite silver being widely used in industrial applications, its price has not surged as dramatically as gold's,' Rajesh Rokde, chairman of All India Gem & Jewellery Domestic Council (GJC). Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo Recently, reports indicate that Ukraine launched drone strikes on Russian airfields, targeting military aircraft2. In response, Russian President Vladimir Putin has stated that Moscow will retaliate. The geopolitical tension surrounding this situation could have significant implications for global markets, including precious metals like silver. 'This is a powerful threat, and it could also boost silver prices. Given the current circumstances, there is a strong expectation of a massive surge in silver prices,' Rokde said. From a fundamental perspective, the silver market remains on solid footing. The Silver Institute forecasts another supply-demand deficit in 2025, marking the fifth consecutive year of shortfall. Industrial demand, a key pillar, is projected to hit a new high, bolstered by growth in green energy sectors. Silver industrial fabrication is expected to rise by 3%, exceeding 700 million ounces for the first time. Investment demand is also projected to grow by 3%, driven by recovery in Europe and North America.
Economic Times
05-06-2025
- Business
- Economic Times
Silver hits new peak of Rs 1.04 lakh/kg amid global, industrial push
Silver touched a new high of Rs 1,04,675 per kg on Thursday. The precious metal crossed the Rs 1 lakh mark on June 3 and was trading at Rs 1,00,980 per kg. ADVERTISEMENT 'The increase in silver prices was largely expected, given gold's extraordinary performance, which set the stage for silver's growth. Despite silver being widely used in industrial applications, its price has not surged as dramatically as gold's,' Rajesh Rokde, chairman of All India Gem & Jewellery Domestic Council (GJC). Recently, reports indicate that Ukraine launched drone strikes on Russian airfields, targeting military aircraft2. In response, Russian President Vladimir Putin has stated that Moscow will retaliate. The geopolitical tension surrounding this situation could have significant implications for global markets, including precious metals like silver. 'This is a powerful threat, and it could also boost silver prices. Given the current circumstances, there is a strong expectation of a massive surge in silver prices,' Rokde a fundamental perspective, the silver market remains on solid footing. The Silver Institute forecasts another supply-demand deficit in 2025, marking the fifth consecutive year of shortfall. Industrial demand, a key pillar, is projected to hit a new high, bolstered by growth in green energy sectors. Silver industrial fabrication is expected to rise by 3%, exceeding 700 million ounces for the first time. Investment demand is also projected to grow by 3%, driven by recovery in Europe and North America. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
16-05-2025
- Business
- Time of India
Jewellers To Shun Turkish Tag, Rename Ornaments As Sindoor
Nagpur: The tag 'Turkish', given to large-sized ornaments like earrings and necklaces by jewellers due to the design's origin in Turkiye, will be dropped in India. Instead, jewellers plan to brand such designs as 'Sindoor', said chairman of Gems and Jewellery (Domestic) Council (GJC), Rajesh Rokde. The GJC is a nationwide jewellers guild. The word 'Sindoor' has been chosen in recognition of successful Operation Sindoor against terror infrastructure in Pakistan and Pakistan-occupied Kashmir following the dastardly Pahalgam terror attack. This decision comes along with the GJC's call to jewellers to halt trade with Turkey due to its support for Pakistan. The name 'Turkish' was used for a wide range of premium jewellery, as such designs originally came from Turkiye. However, imports have decreased substantially over the years as Indian jewellers have gained the expertise to make such ornaments. Despite this, the jewellery was marketed under the brand name 'Turkish', for its premium value. Now, even the name will not be used, said Rokde. The GJC has also made a call to stop all kinds of trade with Azerbaijan, which also has leanings towards Pakistan. "By halting trade, we send a clear message of unity and resolve," says a GJC note quoting Rokde. Even though jewellery imports stopped, jewellers used to procure machinery from Turkiye. Appeals have been made to boycott Turkish equipment too, said another GJC member. Nagpur: The tag 'Turkish', given to large-sized ornaments like earrings and necklaces by jewellers due to the design's origin in Turkiye, will be dropped in India. Instead, jewellers plan to brand such designs as 'Sindoor', said chairman of Gems and Jewellery (Domestic) Council (GJC), Rajesh Rokde. The GJC is a nationwide jewellers guild. The word 'Sindoor' has been chosen in recognition of successful Operation Sindoor against terror infrastructure in Pakistan and Pakistan-occupied Kashmir following the dastardly Pahalgam terror attack. This decision comes along with the GJC's call to jewellers to halt trade with Turkey due to its support for Pakistan. The name 'Turkish' was used for a wide range of premium jewellery, as such designs originally came from Turkiye. However, imports have decreased substantially over the years as Indian jewellers have gained the expertise to make such ornaments. Despite this, the jewellery was marketed under the brand name 'Turkish', for its premium value. Now, even the name will not be used, said Rokde. The GJC has also made a call to stop all kinds of trade with Azerbaijan, which also has leanings towards Pakistan. "By halting trade, we send a clear message of unity and resolve," says a GJC note quoting Rokde. Even though jewellery imports stopped, jewellers used to procure machinery from Turkiye. Appeals have been made to boycott Turkish equipment too, said another GJC member.
