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Time of India
16 hours ago
- 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
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:
