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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WGC: Indian 2016 Jewellery Demand Down 22%

India’s annual jewellery demand fell to a seven-year low amid strikes, regulation and high gold prices, according to the World Gold Council’s (WGC’s) latest Gold Demand Trends report.
Indian demand was 148.3 tonnes lighter than 2015 – down 22% to 514 tonnes the biggest yearly decline recorded in WGC’s historical data series.
The WGC said circumstances in India during 2016 created a very challenging environment in which to collect accurate data on gold demand. In Q1, the nationwide jewellers’ strike effectively shut down the gold industry. Further difficulties arose when the government’s clampdown on undeclared income – which reached its pinnacle in Q4 with the demonetisation

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