Gold Sales: Demand for gold in the country increased about 7.7% by volume to an estimated 42 tonnes and 10% by value to ₹22,000 crore, according to the India Bullion and Jewellers Association (IBJA). Gold prices fell about ₹1,500 per 10 gm in two days to ₹60,400 per gm on Friday, helping drive sales.
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Suvankar Sen, managing director & CEO of the company said "The recently concluded quarter has been yet another positive one for us at Senco Gold & Diamonds, achieving continued robust momentum in both footfalls and revenue across all markets. Gold prices in Q1 were volatile versus Q4 and almost 15% higher YoY. This price volatility continued in Q2 as well, with a sudden fall in Aug-23 and again increasing trend by the quarter end with YoY price higher by 13% leading to above growth. We again achieved volume growth consistently in Q2, leading to H1 level YoY volume growth of 11% in gold and 33% in diamond."
Suvankar Sen, managing director & CEO of the company said "The recently concluded quarter has been yet another positive one for us at Senco Gold & Diamonds, achieving continued robust momentum in both footfalls and revenue across all markets. Gold prices in Q1 were volatile versus Q4 and almost 15% higher YoY. This price volatility continued in Q2 as well, with a sudden fall in Aug-23 and again increasing trend by the quarter end with YoY price higher by 13% leading to above growth. We again achieved volume growth consistently in Q2, leading to H1 level YoY volume growth of 11% in gold and 33% in diamond."