Good Monsoon + Good Harvest = Good Jewelry Business

Jewelers in West-central and North India are praying hard for a good monsoon and a good harvest to boost their businesses. If the monsoon is good, then the jewelry trade can expect a rise of 30 -35 % in gold sales in the November-December period. The jewelers believe that good rains increase farmers’ disposable income, which they traditionally invest in gold jewelry. The harvests coincide with marriage season and festivals such as Navratri, Dussera, and Diwali. India’s inflation has risen to 11.5% in June affecting almost all the markets in the country.