The backdrop is a record-priced metal. Between April and June, India’s jewellery demand fell 15 per cent by volume, even as total spending on gold hit a record Rs 1.98 lakh crore. The quarter’s average domestic price was Rs 1.51 lakh per 10 grams, against Rs 94,876 a year earlier, before duty and GST. In May, the Prime Minister asked households to avoid buying gold jewellery for a year unless needed, and the effective import duty rose from 6 to 15 per cent. from Top Retail News | Latest Retailing & Retail Industry Information and Updates: ET Retail : ETRetail.com https://retail.economictimes.indiatimes.com/news/apparel-fashion/jewellery/lighter-pieces-smarter-buys-what-jewellers-are-betting-on-this-festive-season/135006830
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