Domestic jewellery demand takes a hit as gold scales Rs 90,000 per 10 grams

Domestic demand for gold has taken a hit as the yellow metal traded at Rs 90,500-90,800 per 10 gm in Mumbai’s spot bullion market. 

This is in tandem with international prices, which hit record highs and crossed $3,000 an ounce on Friday, say industry players. One ounce is approximately 28.35 gm. 

The jewellery industry is toying with the question whether demand will return at these high prices as the marriage season has started, even as they are simultaneously preparing for changes in demand composition and considering tweaking products.

At the current high prices, gold is increasingly becoming unaffordable for the lower