Notandas Jewellers unveils Party-Wear Collection

The collection includes Cocktail Earrings, Cuffs & Earrings.

Post By : IJ News Service On 06 November 2013 12:27 PM
According to reports, the total identifiable gold demand for the third quarter 2009 reached 800.3 tonnes in volume and US$24.7 billion in value, showing a 15 percent increase when compared to the second quarter. Gold continued to attract investor and consumer interest. Jewellery and investment demand in non-western markets rebound from the very low levels in the first quarter, while industrial demand began a recovery as the economy recovered. %% According to the Q3’09 Gold Demand Trends Report, released by the World Gold Council (WGC), there has been 34 percent fall on year earlier levels, mainly due to the high purchase of gold during Q3’08, when the economic crisis broke out and as many non-western markets responded to a dip in the gold price in that quarter. To address this, WGC compared Q3’09 against the five year Q3 demand average to 2007, which showed tonnage down just 4 percent on this basis. %% {{Demand for gold in India}}%%The demand for gold during Q3’09 in India, showed improvement over the dip witnessed earlier in the year. Gold demand in Q3’09 soared by 26 percent over Q2’09 levels. Absolute levels of demand remained relatively weak on a historical basis, as high rupee prices and a poor monsoon impacted consumer spending and confidence. Demand in Q3’09, when compared to Q3’08 dipped by 49 percent in the country. Jewellery demand, was 111.6 tonne, indicating a 42 percent drop on year earlier levels, and net retail investment demand amounted to 26 tonnes, declining by two thirds levels. The five year average for Q3 figures up to Q3’07 indicates demand for Q3’09 was down by 10 percent (a 5 percent drop in jewellery demand and 25 percent drop in investment demand). %% {{Aram Shishmanian, CEO of World Gold Council}}, said, “Consumer and retail demand in India has been impacted by the high local price levels witnessed in this quarter. Whilst consumers are still adjusting to a new, higher pricing environment, there is still wide-spread awareness about gold’s role as a store of value and as a result we are seeing less distressed selling as consumers look to preserve their wealth in the face of ongoing economic uncertainty. %% He further added that, “Globally, this quarter’s demand trends demonstrate the diverse and robust nature of the gold market which underpins the gold price. Early signs of economic recovery and improving consumer confidence have seen jewellery and industrial demand rise relative to last quarter, and the profit taking witnessed earlier in the year has markedly decreased. The outlook for investment is positive overall with absolute levels of demand likely to remain well supported by continued economic and currency uncertainty, inflation concerns and the search for diversification. In the official sector, we expect to see a continuing trend of central banks diversifying their dollar exposure in favour of the proven store of value represented by gold.” Demand in most regions was lower year-on-year, except Greater China, which recorded positive growth of 10 percent in tonnage over Q3’08, itself a very strong quarter. %% The report figures have been compiled independently for WGC by GFMS Limited, and they indicate average gold prices have risen by 10 percent for the quarter as compared to Q3'08 at US$960/oz and the increase was even stronger in some local currencies. Demand for jewellery demand increased by 17 percent quarter on quarter, contributed also by the seasonal factors. Although, the high local prices resulted in a 30 percent drop in jewellery demand relative to year earlier levels. %% {{Demand in mainland China}}%% Mainland China saw a 12 percent increase in consumer demand for gold compared to year earlier levels, reaching a record high of 120.2 tonnes. Jewellery demand rose 8 percent to 93.5 tonnes, with strong growth in the 24 carat market as consumers sought out gold’s wealth preservation characteristics. Q3 retail investment demand in mainland China reached 26.8 tonnes, indicating a 30 percent increase above Q3’08 levels. %%
{{Total demand for gold in the Middle East region}}%% Here demand was significantly lower during the quarter when compared to year earlier levels - this is, again, distorted by the exceptionally strong quarter recorded in Q3’08. Jewellery demand, of 69.0 tonnes, was down 34 percent on year earlier levels, while net retail investment demand of 6.4 tonnes was 11 percent lower. However, retail investment and jewellery demand were both above the levels seen in the second quarter of this year. %% {{Gold demand in the US}}%% In the US, total gold off-take in the third quarter was 17 percent below the levels of Q3’08, equivalent to a fall of 9 percent in $US value terms. Jewellery demand weakness continued to prevail and while the US economy has shown tentative signs of a recovery, a high degree of uncertainty remains and is muting any improvement in discretionary spending. Investment flows remained extremely buoyant by historical standards during the quarter at 17.8 tonnes. %% {{Identifiable investment demand}} %% Identifiable investment demand overall, including gold exchange traded funds and bars and coins, amounted to was 227.2 tonnes, showing a slight increase on Q2 levels, but indicated a 46 percent fall when compared to the extreme highs of Q3'08. %% {{Retail investment}}%% This category, which includes demand in the form of bars and coins, again grew on a sequential basis, up 11percent, although it was 31percent lower than the third quarter of 2008. Flows into gold ETFs remained strong in absolute terms at 41.4 tonnes, although were again significantly lower than the relatively high figures recorded in Q3'08. %% {{Inferred investment}}%% Inferred investment which covers the less visible part of gold demand, experienced another quarter of net inflows. This inflow, of 30.7 tonnes was, however, significantly lower than in the previous two quarters. %% {{Industrial demand}}%% Industrial demand recorded its second consecutive quarter of improvement, with quarter on quarter demand up 6%. Despite significantly lower tonnage demand compared to year earlier levels, there were some positive signs of an up-tick in end use demand, particularly within the electronics sector, which accounts for around 70% of industrial off-take. %% {{Total supply of gold}} %% Total gold supply contracted slightly in the third quarter at 833.0 tonnes, 8 percent lower than the second quarter and 5 percent below year earlier levels. Mine production showed a firm improvement during the quarter, reaching 670.0 tonnes. The key factors weighing on supply were an increase in producer de-hedging and a negative contribution from the official sector, in addition to lower levels of scrap than previous quarters.

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