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IGI says 21 auspicious days in 2019 bode well for jewellery industry

Updated : May 07, 2019 02:40 PM IST

On the auspicious day of Akshaya Tritiya, if one purchases gold, it is supposed to bring good fortune. To discuss gold as an investment theme, CNBC-TV18 spoke with Tehmasp Printer, managing director, International Gemological Institute (IGI).

"The year 2019 is loaded with 21 auspicious days, which could mean more weddings and other ceremonies leading to more gold buying. Early trends show a 10-15 percent increase in gold sales year on year," Printer said.

"The sales today would be the benchmark of what will follow through this year. Sentiments for buying jewellery looks good aided by a dramatic increase in online sales. The online sales are of a smaller value but the volumes are increasing," Printer said.

However, he said that online sales are nowhere close to the brick and mortar shops but the online sales of smaller value have doubled.

“We generally do around 2000 carats a month but we have seen a dramatic increase in volume and we now are doing almost 3,00,000 pieces of units or jewellery every month, which is 30 percent increase, “he said.
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