Business glitters for jewellers as gold prices fall 17%, economy recovers

Wedding invites have been sent and the festival season is expected to be lively. That’s good news for India’s gold jewelers, as a reprieve in the pandemic means they can eye a recovery in their most lucrative sales period. 

In the final quarter, Indians usually boost their purchases of 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