Whalesbook
Kama Jewelry's MD, Colin Shah, forecasts gold prices to climb significantly, potentially reaching $5,000, due to ongoing global geopolitical risks acting as a safe haven. While this has softened Indian jewelry volumes, especially during Diwali, stable sales value is maintained by a 35–40% price surge. Demand is shifting towards ETFs and digital gold, with jewelry volumes down 10–15%. Despite subdued volumes, the upcoming wedding season is expected to boost sentiment and sales, with exports holding strong, particularly in the US market.