Wedding ceremony invitations have been despatched and the pageant season is predicted to be vigorous. That’s excellent news for India’s gold jewelers, as a reprieve within the pandemic means they’ll eye a restoration of their most profitable gross sales interval.
Within the closing quarter, Indians normally increase their purchases of gold ornaments for marriage celebrations, whereas gross sales of cash and bars for funding surge throughout a sequence of celebrations that culminates with Diwali, or the Competition of Lights that this yr is being held in November.
However through the pandemic, they’ve primarily held again their spending on the dear metallic as costs surged and restrictions of motion crippled the economic system, delayed weddings and muted festivals. Now, daily-infection tallies round seven-month lows and climbing vaccination charges are boosting optimism of a greater peak gross sales season.
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