The Q2 Gold Jewelry Consumption In India Dropped 8%

The improve in recycling was most probably due to consumers cashing in on historic excessive gold prices. According to the World Gold Council’s Gold Demand Trends report, India’s gold demand fell within the second quarter of 2023. The total gold consumption for the quarter declined by 7% compared to the identical period in the earlier year.

A criticism was registered at the Cottonpet police station by the proprietor of a jewellery shop. He told the police that his nephew, who was carrying the jewellery house, was robbed by a motorcycle duo. From the time the gold was brought to the shop to the time it was packed, every thing was recorded. The nephew carrying the bag out of the shop and leaving was recorded.

The two minor nephews have been trained for 15 days to carry out the plan.


As instructed, the nephews carrying the bag reached the deliberate spot on the flyover and called Raju. They hid the bag with the gold in the boot space of their scooter earlier than he arrived. The police got a clue after he known as an unknown individual. The robbery will be staged on the Sirsi Circle flyover the place there aren’t any cameras. He made sure that the whole scene of packing the jewelry in the night was captured by the cameras.

India’s Q2 Gold Jewelry Consumption Dropped By 8%

A case of theft has been solved by Cottonpet police. The police discovered that he was going to promote the gold and declare the insurance. The call made on the day of the criticism was found by the police. They grew to become suspicious when the technical method didn’t work and tracked the cellphone calls made by the person and his nephew.

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The document high rupee gold prices, which negatively impacted affordability and consumer sentiment, were one of the contributing components to the decline in jewellery demand. There was a quick however notable influence on silver jewellery for women gold demand after the ban of two,000 notes. Gold recycling noticed a sharp increase in Q compared to the same interval within the previous yr.

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One of the nephews came out of the station and moved the bag with the gold into another car. When he arrived on the location, he and a few others acted as in the occasion that they have been looking for the robbers throughout. They contacted the police along with the bike and filed a criticism.

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