Investing
India’s Pandemic Recovery Means Golden Days Ahead for Jewelers
- Weddings and festivals set to spur last-quarter bullion sales
- Decline in safe-haven demand has seen fall in metal’s price
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Wedding invites have been sent and the festival season is expected to be lively. That’s good news for India’s gold jewelers, as a reprieve in the pandemic means they can eye a recovery in their most lucrative sales period.
In the final quarter, Indians usually boost their purchases of gold ornaments for marriage celebrations, while sales of coins and bars for investment surge during a series of celebrations that culminates with Diwali, or the Festival of Lights that this year is being held in November.