GJEPC Debates Prospects for World Gold Market After Covid-19

The withdrawal of lockdown in India would see customers returning to stores, as gold and jewellery are closely tied to Indian culture and are an integral part of weddings and festivals.

SEATTLE (Scrap Monster): The webinar hosted by the Gems and Jewellery Export Promotion Council (GJEPC) held elaborate discussions on the future of global gold and diamond markets post Covid-19 pandemic.

The meeting noted that the pandemic spread has led to creation of an unprecedented situation in the industry. The operations have come to a halt following shutdown of major global markets. Although it would be difficult to foresee the pace of return to normalcy, the global gold and diamond industries continue to remain optimistic about the overall future prospects, it noted.

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The withdrawal of lockdown in India would see customers returning to stores, as gold and jewellery are closely tied to Indian culture and are an integral part of weddings and festivals. A positive turnaround is expected in the second half of 2020. The gold and diamond purchases have reported notable improvement in China in March post the lifting of lockdowns in certain areas.

The participants of the webinar, moderated by Colin Shah, Vice Chairman, GJEPC, included Stephen Lussier, De Beers; David Kellie, DPA; David Tait, WGC and Ajoy Chawla, Tanishq. The conference was attended by nearly 2,000 participants from different parts of the world.

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