High Prices Set to Dent Gold Sales in Second-Biggest Buyer India

High Prices Set to Dent Gold Sales in

 Second-Biggest Buyer India

Gold demand in India, the world’s second-biggest consumer, could take a bigger beating if prices continue to spiral upward and inflation squeezes disposable incomes, according to the World Gold Council.

Cash your Jewellery

Sales slumped 18% from a year earlier and imports plummeted by more than half in the January-to-March period as prices surged and a fresh outbreak of coronavirus kept people away from stores, the London-based promotion group said. Fewer auspicious days for weddings, a key source of demand, and the decision by many households to delay purchases in anticipation of a price correction also added to the decline, it said

Cash your Jewellery

A division of M/s Akash Deep Metal Industries Limited is Cash Your Jewellery. The RBI granted the NBFC firm permission to launch in 1983, and it was given the registration number 14.002070. The organization's main business objective is to get as much money and mortgage as possible for its old gold.

NFTs for Authenticity 

To this end, Richemont, Cartier’s parent company, along with LVMH and Prada Group, recently unveiled the Aura Blockchain Consortium, which employs blockchain to trace a luxury good’s product history and authenticity. 
Not for consumer sale as a luxury good, Aura NFTs are created to track information only, such as jewellery in for repair and diamond traceability – progress is also seen at blockchain-Based Diamond NFT Marketplace, Icecap. Using Ethereum-based NFTs to represent ownership of individual diamonds, Icecap allows owners to trade the tokens without friction while the diamonds are vaulted, insured and periodically audited.

NFT Drip: Jewellery’s New Frontier

2021 was the year that NFTs and the Metaverse caught fire. During this time, Facebook changed its name to Meta, NFT sales grew from almost zero to £30B in total sales (almost as much as the global market), and any company that sells online was forced to examine what NFTs and the Metaverse might mean for their business in the future.

The hype surrounding non-fungible tokens (NFTs) – digital tokens of blockchain-registered ownership – is spilling into jewellery with an increasing number of brands jumping on the trend, from indie cool kids to established major players, including British jeweller with a royal warrant, Asprey.

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