Jewelry Market Must Prepare For A Steep Drop And Signet Jewelers Is Prepared
The Gem and Jewellery Export Promotion Council attributes the decline to produce disruptions and a voluntary halt in rough diamond imports as a result of geopolitical points. GJEPC Chairman Vipul Shah anticipates further improvement, citing heightened festival demand and expects FY24 exports to surpass the earlier financial year. Gold jewellery demand softened slightly in 2022, virtually managing a return to pre-COVID levels of demand, which in 2019 stood at 2,127t.
A month in the past, diamond prices had plunged by 35% due to excess provide amid weaker exports to the US which is dealing with recessionary pressures. Kolkata-based jewelry model, …
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