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India’s Covid pandemic recovery means golden days ahead for jewellers

India 2020 pandemic economy
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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.

But during the pandemic, they’ve mainly held back their spending on the precious metal as prices surged and restrictions of movement crippled the economy, delayed weddings and muted festivals.

Now, daily-infection tallies around seven-month lows and climbing vaccination rates are boosting optimism of a better peak sales season.

Jewelers are being further encouraged that sales volumes will rise due to a 17% decline in gold prices in the local markets since their record high last August, as the precious metal’s safe-haven

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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