Page 5 - Bullion World Volume 02 Issue 08 September 2022

sequelglobal.com Bullion World | Volume 2 | Issue 09 | September 2022

EDITORIAL

USE TECHNOLOGY. Dear Readers,

OR, GET USED Inflation is here to stay. As far as India is concerned, the middle
class have always been gold-centric and a major driver of gold
BY HUMANS. jewellery demand. With the increase in inflation and the middle
class feeling the pinch of it, most of the retail jewellery industry
is witnessing a slowdown in jewellery sales. World Gold Council
has vouched for the slowing demand with its statement Retail
gold jewellery demand would be subdued in the second half
of 2022. Credit rating agency ICRA has also come out with an
Sequel runs on technology that is
industry study indicating that the retail jewellery demand to
transparent, efficient, empowering.
contract in Q2 and Q3 of the current year.

Currently, we are passing through lean seasons and there are
no major triggers for jewellery demand to pick up. The industry
With our Sequel247 app, you can: would get a demand push during Navaratri and Deepawali seasons. With good southwest monsoon
and good agricultural activities, higer rural spending would review the demand for jewellery post-
Book multiple pickup requests
October once the harvests are on.
Track your shipment
Make online payments Retail jewellers are reporting increased sales and preference in terms of lightweight jewellery. This may
View the overall summary of be attributed to increased preference by millenniums. At the same time, we can’t rule out the influence
your shipments of the growing middle class on lightweight jewellery.

Customers are now sticking to their budget and are not prepared to extend their spending on jewellery
And be a part of the complete
purchases. The result is that they are preferring lower gold content/grammage in the jewellery. Apart
logistics process! from this mindset, post-pandemic consumers are now left with more options to spend.

According to BIS, about 3.7 crore jewellery articles have been hallmarked during April–July 2022.
Recognised assaying and hallmarking centres have also increased from 948 to 1,220 during the same
period.

Exports of plain gold jewellery have witnessed a significant boost post-India – UAE CEPA. July 2022
witnessed INR 2,591.67 crore valued plain gold jewellery exports compared to INR 2,086.41 crore during
July 2021. For the first four months of the current FY, plain gold jewellery export stood at INR 10,293.55
crore compared to INR 7,961.63 crore during the corresponding period last year.

Do you have any interesting stories 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

secure@sequel.co.in linkedin.com/SequelLogistics +91 901 902 4444 5