Page 5 - Bullion World Volume 3 Issue 3 March 2023

sequelglobal.com Bullion World | Volume 3 | Issue 3 | March 2023

EDITORIAL

Dear Readers,
USE TECHNOLOGY. o

Despite elevated gold prices, we see customers are back to
OR, GET USED spending on jewellery for the upcoming wedding season. The
Indian Jewellery segment is one of the most dynamic sectors
BY HUMANS. in the country, the jewellery industry has been estimated to

be more than 50 billion dollars and is expected to grow at a
CAGR of 5-7% over the next five years.

Leading jewellery retailers have reported decent Q3 earnings
Sequel runs on technology that is which were predominantly value driven with muted volume
transparent, efficient, empowering. growth. Large retailers have reported fresh footfalls of around
35-40% indicating renewed buying interest from consumers.
Approximately 26-28% of the total jewellery sales were on an
exchange basis thanks to higher gold prices.
With our Sequel247 app, you can:
Book multiple pickup requests According to the Bureau of Indian Standards (BIS), 17 crore pieces of gold jewellery have been
hallmarked in the span of 1.5 years, with 1347 operational hallmarking facilities in the country. BIS has
Track your shipment
initiated a scheme for setting up Off-Site Centers (OSC) by the BIS-recognized AHCs (Assaying and
Make online payments
Hallmarking Center). As the latest initiative, the BIS has proposed making hallmarking of gold bullion
View the overall summary of
mandatory for approved refiners starting from July 1, 2023. Other refiners not registered with BIS
your shipments
should hallmark bullion from January 1, 2024. An advisory committee under the chairmanship of the
director general of BIS has been set up to work out the modalities of implementation of hallmarking
And be a part of the complete at the refinery level.
logistics process!
On the international front, The President of the Democratic Republic of Congo, Félix Tshisekedi,
announced that for the first time in 30 years, that the country has exported gold from artisanal
small-scale mining, thanks to the partnership between the DRC and the UAE. The exports would be
facilitated through a new state-owned company, Primera Gold RDC SA. Initially, the partnership aims
to export a ton of "certified" gold per month, scaling to 15 tons a year.

In this edition, Mr. Kishore Choksi of Choksi Heraeus has provided an excellent overview of the Indian
Silver industry, while the newly elected GJC chairman Mr. Saiyam Mehra has shared his vision for the
industry. We have summarized information on bullion coins business of some of the leading Mints of
the world and have provided an abstract of insights by leading gold mining companies presented at
the recently concluded Mining Indaba Summit. We have also placed the highlights of Malaysia Gold
Conference.

Do you have any exciting stories to share? Please write to us at editor@bullionworld.in. It can be on
the Indian or global precious metals and jewellery industry.

Best wishes,
G Srivatsava
Editor

secure@sequel.co.in linkedin.com/SequelLogistics +91 901 902 4444
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