Page 12 - Bullion World Volume 03 Issue 07 July 2022

Bullion World | Volume 5 | Issue 09 | September 2025

Exclusive Interview with

Mr Prithviraj Kothari: Insights

into India’s Bullion Market

Mr Prithviraj Kothari, National President,
India Bullion & Jewellers Association (IBJA)

In an exclusive interaction,
Mr Prithviraj Kothari - one of
India’s most influential bullion
market leaders - provides a
detailed overview of the present
landscape, emerging challenges,
and the way forward for the
industry. With gold hovering
around ₹1 lakh per 10 grams and
silver near ₹1.1 lakh per kilogram,
the Indian bullion sector stands
at a defining moment. From retail
jewellery demand to investor
interest in ETFs and digital
gold, as well as IBJA’s ongoing
initiatives, Mr Prithviraj Kothari
highlights the key trends shaping
the market and shares his outlook
for the coming year.
Mr Prithviraj Kothari

1. Current Market Landscape

Currently, India's bullion market is benefitting from
high gold prices at around Rs 1 lakh/10g and silver
prices at Rs 110,000/kg which means there is Despite high duties, imports remain stable as
demand for the precious metals at both the retail jewellers are still adjusting their level of stock.
and investment level, particularly as concerns over Geopolitical issues along with ongoing China and
global economic instability from trade tensions and U.S. trade issues and a generally weaker rupee,
an accommodating base from central banks persist. may assist in the recent bullish sentiment in the
Domestic physical demand is steady due to ongoing market for precious metals and particularly as
celebrations of festival and wedding seasons, Central bank buying remains widespread across
although high prices have deterred wholesale global. It is also given that gold is still viewed as a
buying of jewellery. Investment demand still remains safe haven investment in times of volatility in the
robust through Gold ETFs and digital gold which is global stock markets, which means that gold still
mostly through younger retail investors. remains a favourable asset in an Indian portfolio.

12