FORTNIGHTLY MARKET REPORT
Mumbai Market Has Eye on Hong Kong Show - There are many overseas and domestic buyers in the market and there is a clear demand for goods, but transactions have been slowed considerably due to the differences in asking and offering prices. The 5-7% increase in the price of rough diamonds at the February De Beers Diamond Trading Company (DTC) sight is the main factor in sellers’ insistence on higher polished prices.
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Akshaya Tritiya Sees Moderate Sales

Akshaya Tritiya is considered to be an auspicious day to embark on new beginnings and is the second-biggest gold buying occasion in India after Dhanteras. This year, Akshaya Tritiya was celebrated on April 28. In some places, it was celebrated on April 29 as well. Also, since the festival fell on a Friday, jewellers felt that the sentiments would be carried forward over the weekend. “Most jewellery firms registered a growth of 25-30% compared to last year,” informed Kumar Jain, vice president, Mumbai Jewellers Association. “It is difficult to get the exact figure but sales have been in range of 80-90 tonnes across India.”
“On an average, the daily aggregate sale of gold, studded and diamond jewellery and bullion, in Maharashtra touches about R175 crore. On peak festive occasions like Dhanteras, the figure hovers between R400 and R450 crore. During Akshaya Tritiya this April, the aggregate sales figure across the state stood at approximately R375 crore. I would say it was a decent

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