Gold Markets
Gold is used for investment as coins and bullion, fabrication of jewellery and various industrial purposes. The total supply of gold is globally estimated at about 4100 tones, out of which about 2900 tones is utilized for jewellery fabrication and rest of the gold for investment and industrial purposes. The total jewellery market is estimated at about 90bn USD per annum out of this gold and gold jewellery accounts for about 65bn USD. India is the largest consumer of gold in the world, the other major consumers of gold in the world are United States of America, Middle East, Turkey, Italy and the UK. Gold is consumed in almost all the countries across the world.
Mainly 24cts gold in the form of coins and bullion bars is used for investment purposes. Gold jewellery is fabricated in various purities like 22cts, 21cts, 18cts, 14cts, 12cts, 10cts and 9cts. India is the largest gold jewellery market consuming about 850 tones of gold per annum which is mainly for fabrication of 22cts gold jewellery. The total size of Indian jewellery market is estimated at about 17bn USD and has grown at the rate for more than 10% per annum for the last five years. Indian jewellery demand is estimated to be strong and based on recent report of KPMG the Indian market is estimated to reach around 28bn USD per annum by 2015. The other major market of jewellery is United States of America, which is estimated at 16bn USD per annum, Middle East market is estimated around 7bn USD per annum and Turkey is estimated at 5bn USD per annum.
The jewellery market globally is estimated to grow strongly at the rate of more than 10% per annum. Globally major part of jewellery market is in an unorganized state with the major share of business being contributed by various small players in the unorganized sector. The market has began to consolidate with the emergence of large manufacturing facilities with strong designing strengths and organized distribution network. REL is leading the global consolidation of the jewellery market based on its unique large scale manufacturing strengths, matured research and development and designing capacity.