Wedding Season Boosts Gold Demand Amid Price Volatility
Anantha Padmanaban, Chairman and Managing Director of NAC Jewellers, expects gold jewellery demand to remain strong in the coming days. Despite volatility in gold prices, which have ranged from $4,000 to $4,700 an ounce recently, wedding-related purchases are unlikely to be significantly affected.
Padmanaban noted that recent price movements have affected buying patterns, but demand has started to improve as gold prices ease from recent highs. The company has seen a pickup in customer activity since gold prices began falling again.
The upcoming wedding season is expected to provide a strong boost to gold jewellery demand. Consumers are unlikely to significantly reduce jewellery purchases despite calls to curb gold imports, particularly when purchases are linked to weddings.