Thursday, October 13

Gold buying sees an upsurge, major players look forward to capitalizing the market

More than a precious material, gold has been a sentiment in the Indian market. There are traditions that revolve around gold. However, changing trends have brought a change in the outlook of the new generation, and the gold buying patterns have shifted in comparison to what they were a few years ago.

The love for gold in millennials had gone down. With many other options coming up, it was not being considered as an investment option. However, it’s interesting to note that the gold market has picked up recently after a sabbatical of almost 5 months.

Also, emerging from the aftereffects of GST, demonetization and falling Rupee prices, the gold market has seen an upsurge in demand. The gradual change that is visible, can be considered as a sign of things going back to its glory days.

The changing attitude of the Indian gold market has brought some positive news for many gold manufacturing and retailing companies across the nation. The inflow of this precious metal to retail chains has increased with their expanding order books.

This change in course for gold bazaar was being expected by many gold regulators, including Rajesh Exports, the company which captures more than 35 per cent of gold market worldwide. Planning ahead, the company has been working on avenues that will help increase the interest of millennials in gold buying.

With e-commerce gripping the market, Prashant Mehta Rajesh Exports MD is also set to launch an online platform for its audiences globally. With an exclusive collection of jewelry and investment bars, it will be launched phase wise. Another initiative being taken by the company, will be the launch of duty-free Valcambi investment gold bars at multiple airports. Not only will this step provide customers with substantial savings on gold but also help capitalize the gold market, thereby strengthening it.

Rajesh Exports can certainly also be accounted for single-handedly giving the market a new direction by providing gold at rate per gram and without any making charges.

With golden days ahead, the market is treading on the path to regain its lost focus. Jewelry shops all over the country, including metro cities like Bangalore, Delhi, etc., along with small cities, are witnessing an increasing buyer interest. A close look on the jewelry market will definitely bring something more interesting tomorrow.