India's Largest Jeweler Reduces Gold Purchases Amid Price Expectations
Current overview (not historical)
India's largest jeweler MMTC-PAMP has reduced gold purchases, with CEO Samit Guha stating the company is "holding currency" awaiting a price dip. This follows expectations of a decline in gold prices. Citi Research forecasts India's gold imports to halve in Q4 2024 to around 106 tons due to a 15% import tax, impacting the sector ahead of the Diwali festival.
Written with AI from the reporting · updated 10/28/2026
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- 1Unclassified fact stationOct 28, 15:04single sourcereport-time only
印度最大珠宝商因预期金价下跌而减少黄金采购
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- Subject：
- India's largest jewelers
- Action：
- holding back, waiting for cheaper gold
- Object：
- gold purchases
- Occurred (fact side)：
- not recorded
- Published (valid side)：
- Oct 28, 14:36
- First seen (known side)：
- Oct 28, 15:04
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- BeInCryptoRelated fact: single sourceFact occurrence time unverifiedIndia's largest jewelers delay gold purchases ahead of Diwali festival
Report first recorded Oct 28, 15:04
India's largest jewelers are holding back gold purchases ahead of the Diwali festival, waiting for prices to decline further before buying. MMTC-PAMP India CEO Samit Guha said most current purchases come from small and mid-sized jewelers, while larger ones run down existing stock. With gold trading near $4,050 and import duties at 15%, Citi Research forecasts December imports at about 106 tons, roughly half the usual level.
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