Condividiamo alcune notizie provenienti dagli Uffici Esteri dell’ICE.
L’ARMENIA: PONTE TRA L’OCCIDENTE E L’ORIENTE
(ICE) – ROMA, 16 OTT – La rinomata rivista Forbes ha dedicato un articolo all’Armenia, sottolineando il suo ruolo sempre più rilevante come ponte tra Oriente e Occidente. Il Paese sta accelerando lo sviluppo del turismo, l’attrazione di investimenti e il rafforzamento dei legami con l’Unione Europea, con un’attenzione particolare ai siti culturali, alle tradizioni vinicole e al potenziale economico. (ICE MOSCA)
IL PRESIDENTE DELLA BANCA CENTRALE SPIEGA IL FENOMENO DEI PREZZI ALTI
(ICE) – ROMA, 15 OTT – Il Presidente della Banca Centrale dell’Armenia, Martin Galstyan, ha spiegato che i prezzi elevati derivano da fattori strutturali e geografici: costi di trasporto alti, mercato ristretto e forte stagionalità legata a turismo e diaspora. Dopo il 2022, l’aumento dei consumi degli stranieri ha spinto ulteriormente i prezzi. Proprio per questo, secondo lui, tutti i governi cercano di sviluppare politiche economiche orientate all’export, creando prodotti competitivi da esportare. Ad agosto l’inflazione è stata del 3,6% annuo e dello 0,2% mensile. (ICE MOSCA)
GOLD’S DIWALI GLOOM HIDES QUIET GLITTER IN INDIA’S BULLION BACKROOMS
(ICE) – ROMA, 15 OTT – Prime Minister Narendra Modi-led government has sparked festive cheer with its big GST reforms, but in desi households, gold remains the heart of every celebration. And, with bullion prices through the roof, many Indians this festive season are likely to give gold jewellery shopping a miss or at least trim it down.
Demand for ornaments is likely to drop by as much as 27% from a year ago in volume terms during the three-week buying period, as per Surendra Mehta, national secretary at the India Bullion and Jewellers Association. Consumers, especially in big cities, are postponing spending due to high costs, he said.
Even during the first leg of the festive season, gold demand from Raksha Bandhan to Onam, fell 28% from a year earlier to 50 tonnes, according to the India Bullion & Jewellers Association (IBJA).
Jewellers said the fall—the sharpest in three years, or since the Covid period—was due to a 49% year-on-year rise in gold prices, which weighed on consumer sentiment. While many buyers stayed away, those who did shop mostly opted for lower-carat and lighter pieces, they added.
Gold prices climbed to a record high on Tuesday, driven by safe-haven demand on fresh U.S.-China trade concerns, while broader economic and political uncertainties and expectations of further US interest rate cuts also lent support. In the Indian market, the price is hovering above Rs 1 lakh per 10 grams at the retail end, discouraging families, who generally allocate a fixed budget for their gold shopping.
Gold has long been a preferred gift for weddings and festive occasions in India, while also serving as a popular investment. However, during a season when jewellery demand usually peaks — beginning with the nine-day Navratri festival in September and continuing until Diwali in October — bullion prices are nearly 50% higher than they were in the same festive period last year.
As a result, gold demand may have dropped, but industry bigwigs are still optimistic for a good festive season.
Kalyan Jewellers’ Executive Director, Ramesh Kalyanaraman, said the company is ‘upbeat’ about the ongoing season and is fully prepared with fresh collections, campaigns and the launch of 15 more showrooms before Diwali.
With prices trending upward, customers are “choosing to buy rather than wait”, he told ET Online. “In urban and Northern markets, there is growing interest in 18K gold, which was earlier used mainly for diamond jewellery, and is now also being chosen for even traditional designs in gold. In the South, the preference is still for 22K when it comes to gold jewellery.”
Sharing a similar sentiment, Senco Gold said it expects robust festive and wedding season sales in the second half of FY26, confident of sustaining 18-20% topline growth for the year despite high gold prices.
“Year-on-year, gold prices are already up by 14-15%. Despite this, our outlook for consumer demand in Q3 and Q4 remains optimistic, underpinned by a positive economic environment and the recent GST rate cut. We are confident of achieving 18-20 per cent topline growth for FY26,” as per Senco Gold MD & CEO Suvankar Sen.
ET spoke to market watchers to understand what’s driving retailers’ confidence amid the record-high prices. Most large players are sitting on low-cost inventory, and the sharp rise in gold prices will translate into inventory gains, allowing them to post healthy profits in their books, explained Rahul Kalantri, Vice President- Commodities at Mehta Equities Limited.
However, Kalantri warned that the operating reality is different. Jewellery companies are facing margin pressure, as making charges have remained largely unchanged compared to a year ago, even though gold prices have surged from around ₹70,000 to nearly ₹1,14,000 per 10 grams, he stated.
“This means that while accounting profits may look strong due to inventory revaluation, EBIT margins are likely to remain under pressure, reflecting weaker underlying demand and limited pricing flexibility.”
Demand has been under pressure for much of the year. India bought 17% less jewellery between April and June than a year earlier, with total purchases of the precious metal seen dropping in 2025 to the lowest level in five years, according to a World Gold Council report in July…….Read more at: https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/golds-diwali-gloom-hides-quiet-glitter-in-indias-bullion-backrooms/articleshow/124543286.cms
(ICE MUMBAI)
SILVER BEATS GOLD, SCORCHING RS 11,000 RUN UP IN A DAY; GOLD AT HIGH OF RS 1.27 LAKH
(ICE) – ROMA, 14 OTT – Silver prices scaled a new peak of Rs 1.73 lakh per kg on Monday after an unprecedented single-day gain of `11,000 per kg, driven by increasing demand from investors amid a global shortage of the precious metal. With a goods and services tax of 3%, a kg of silver now costs Rs 1,78,190 in the domestic market, according to the India Bullion and Jewellers Association (IBJA).
The metal has appreciated a staggering 57.69% over the past month and surged almost 85% since the beginning of 2025.
Investors seeking stability, tight supplies in global markets and expectations of lower interest rates ahead are key factors responsible for the runaway rise in silver prices, said industry executives and experts. Increasing industrial use in renewable energy, consumer electronics and electric vehicles, among other applications, is also driving demand.
“There is a shortage in silver in the market. Jewellers are scrambling as consumers ask for silver due to the spurt in prices. Silver’s rally is much steeper than that of gold and now consumers want to buy silver in anticipation of this rally continuing further,” said Surendra Mehta, national secretary, IBJA. Silver inventory in London, from where India imports silver, has plunged as demand has increased globally, he said.
Global production of silver is around 25,000 tonnes, with Mexico being the largest producer, followed by China and Peru. Bolivia and Chile are also source countries for silver. “There is a deficit in the supply of silver to the market,” said Chirag Sheth, principal consultant, South Asia, at Metals Focus.
“Moreover, when talk of US tariffs surfaced, a lot of silver was shifted from the vaults of London to New York as the US bullion trade thought silver would turn out to be pricey,” said Sheth of the precious metals research firm. “Now, it is taking time to unlock that silver from the vaults of New York. That is why there is a shortage of the metal in the global markets, which too is driving the prices.”
Besides, since about 75% of the silver available worldwide is produced as a byproduct of zinc, copper and gold, the output of silver cannot easily expand unless there is an increase in the production of these main metals from the existing mines.
“The shortage has also happened as three mines, one each in Chile, Peru and Indonesia, have closed down. The situation can only ease after a month, when new supplies come from the US and China and consumers sell silver in the market for profit-booking,” said Manav Modi, precious metals analyst at Motilal Oswal Financial Services.
Meanwhile, Kotak Mutual Fund, SBI Mutual Fund and UTI Mutual Fund have temporarily suspended investment in silver exchange-traded fund (ETF) of funds to protect the interest of investors due to the shortage of physical silver in India. Tata Mutual Fund, too, announced a temporary halt to investments and switch-ins in the Tata Silver ETF Fund of Fund from Tuesday.
“As there is scarcity of silver, the premium on silver has gone up significantly, leading to a disparity between silver ETF and silver futures prices and prompting mutual fund houses to temporarily halt new investments,” said Modi.
Another safe haven, gold at high of Rs 1.27 lakh
Gold prices rallied by Rs 1,950 to hit a fresh peak of Rs 1,27,950 per 10 gm in the National Capital on Monday, driven by safe-haven demand amid renewed US-China trade tensions. Outlook continues to be bullish, according to traders.
Read more at:
https://economictimes.indiatimes.com//industry/cons-products/fashion-/-cosmetics-/-jewellery/silver-beats-gold-scorching-rs-11000-run-up-in-a-day-gold-at-high-of-rs-1-27-lakh/articleshow/124534346.cms
(ICE MUMBAI)
INDONESIA’S LOCAL JEWELRY AT SIJF 2025 TO BOOST GLOBAL MARKET ACCESS
(ICE) – ROMA, 14 OTT – Indonesia is actively strengthening its jewelry industry through strategic policy support and international exhibitions, as highlighted by the Surabaya International Jewellery Fair (SIJF) 2025. Held from October 9–12, the event showcased handcrafted gold, gemstone, and pearl products from selected local SMEs to global buyers. Organized by APEPI, SIJF serves as a key platform for connecting producers, suppliers, and distributors. The Industry Ministry, through its Directorate General of IKMA, facilitated eight small and medium-sized jewelry manufacturers to participate, underscoring its commitment to expanding market access and promoting Indonesian craftsmanship internationally. The sector’s growth is backed by rising exports, which reached USD 4.05 billion in the first half of 2025—a 23% increase from the previous year. Indonesia now ranks 12th globally in jewelry exports, with major markets including Switzerland, Hong Kong, and India. To further support the industry, the government launched the Bullion Bank in February 2025 to improve gold financing and supply chain efficiency. Additional initiatives include trade show participation, machinery modernization, and artisan training. Officials emphasized the importance of innovation and collaboration to elevate Indonesia’s position in global jewelry trends.
Source: https://rri.co.id/en/business/1899231/local-jewelry-at-sijf-2025-to-boost-global-market-access
(ICE GIACARTA)
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