Page 5 - Bullion World Volume 02 Issue 02 June 2022_Neat

Bullion World | Volume 2 | Issue 02 | June 2022

EDITORIAL

Dear Readers,

Covid pandemic resulted in huge slump in demand for jewellery
in India. Given that, its heartening to notice increased footfalls
and buying interest from Indian consumers during this Akshaya
Tritiya season, especially when gold prices have significantly
moved from INR 3270/gm during 2019 to the current levels
of INR 5300/gm. Consumer confidence towards gold may be
mainly attributed to recent performance of gold, increased
global tensions and high inflation. Brisk business activity was
seen in all channels - brick-and-mortar stores, online and
digital platforms. Digital gold platforms also witnessed higher
transaction volumes with the new generation smart phone
lovers buying small denomination gold. The buying for Akshaya
Tritiya was further complemented by Eid celebration. Regaining
gold consumer confidence, upcoming wedding season and possible good rural economy favored
by pre monsoon and monsoon rains would boost gold consumption in the country.Industry sources
also point to significant investments in bullion apart from jewellery. Industry has pegged the value of
business done during 2022 Akshaya Tritiya season at around INR 15,000 crores, well above INR 10,000
crores done during 2019 (pre-pandemic) season.

Comprehensive Economic Partnership Agreement (CEPA) between UAE and India, which has come into
effect from May 1, 2022 would give a boost to Indian jewellery exports with GJEPC estimating the
business to be more than USD 10 billion. The pact, apart from providing free access for Indian finished
jewellery to UAE markets would facilitate direct exports of jewellery to UAE customers. In the meanwhile,
DGFT has opened online registration process for those willing to avail import of gold bullion under TRQ.
The deadline for submitting the application has been extended till May end. Mr Harish Chopra of India
Gold Policy Centre has written an excellent article for those interested in imported gold through the
scheme. Please do read it.

Other interesting articles include how ABC Bullion is catering to meet market demands through analysis
and increased product offerings from Ms Janie Simpson, Managing Director. On other precious metals,
Mr Trevor Raymond, Director of Research, World Platinum Investment Council speaks about global
security concerns and how inflationary risks would provide incentive for investors to consider exposure
to ‘green’ platinum. On storages and vaults, Mr Gregor Gregersen, Founder, Silver Bullion Pte Ltd
expresses his views on the case for new high-capacity vaults and transparency by design. Ms Pawan
Nawawattanasub, CEO, YLG Bullion has highlighted the bullion market of Thailand and South East Asia.
On market competition Mr Sunil Kashyap, Director, Finmet talks about the challenges faced by regional
market players in Asia. Mr Cameron Alexander, Manager Business Development & Industry Research at
The Perth Mint, worlds only government owned precious metal enterprise speaks about the initiatives
of the company.

Hope you all enjoy reading...

Do you have any interesting story to share? Please write to us at editor@bullionworld.in It can be on the
Indian or global precious metals market and jewellery industry.

Best wishes,
G Srivatsava
Editor

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