• Tue. May 21st, 2024

India’s Q2 Gold Jewelry Consumption Dropped By 8%


Jul 15, 2023

One of the nephews came out of the station and took the bag with the gold into one other automobile. When he arrived at the location, he and some others acted as in the event that they were on the lookout for the thieves throughout. They contacted the police together with the bike, and filed a complaint.

The decline in jewellery demand was caused by the excessive rupee gold costs, which negatively impacted affordability and client sentiment. There was a short however notable influence on gold demand following the ban of two,000 notes. Gold recycling noticed a 61% increase in Q compared to the same period in the previous 12 months.


Cottonpet police solved a case of theft. Police found that he was going to sell the gold and claim insurance. On the day of the grievance, police discovered a call on the messaging service. They grew to become suspicious when the technical method did not work and tracked the phone calls of the person and his nephew.

They Stole 20 Tola Gold From The Jewellery Retailer

The enhance in recycling was more than likely because of shoppers cashing in on the excessive gold costs. According to the World Gold Council’s Gold Demand Trends report, India’s gold demand faced a downturn within the second quarter of the yr. The whole gold consumption for the quarter was down by 7% in comparability with the identical period in the earlier yr.

The Two Minor Nephews Had Been Skilled For 15 Days To Hold Out The Plan

The nephews had been advised to name Raju after they reached the spot on the flyover. They hid the bag with the gold in the boot house of their scooter before his arrival. After that, he referred to as an unknown individual and gave crystal rhinestones the police the clue they had been on the lookout for. He confirmed that the robbery shall be staged on the Sirsi Circle flyover where no cameras are installed. He made sure that the entire scene of packing the jewelry was captured by the cameras.

A Jeweller Faked A Robbery Of Rs Four Cr Gold To Claim Insurance Coverage

The two minor nephews have been skilled by their uncle for 15 days to carry out the plan.

The proprietor of a jewellery shop in Nagarathpet registered a criticism on the Cottonpet police station on July 12. He advised the police that his nephew, who was carrying the jewelry home in a bag, was robbed by a bike-borne duo. Everything was recorded from the time the gold was brought to the store. The nephew carrying the bag out of the store was recorded.