MAM
Gold glitters less as base metals shine brighter
MUMBAI: Gold bulls blinked in October as the yellow metal slipped 0.5 per cent in rupee terms after touching record highs near Rs 1.21 lakh, while silver sparkled briefly before easing 1 per cent. After months of glitter, profit-booking and a stronger dollar dimmed the bullion buzz.
Silver still outshone gold over the year, up 68.3 per cent versus gold’s 57.2 per cent. A supply squeeze and soaring ETF premiums kept silver in the spotlight, even as China curbed retail gold access and cut VAT exemptions from 13 per cent to 6 per cent.
Base metals stole the show. Copper broke above Rs 1,000, riding renewed trade optimism and mine disruptions that trimmed global inventories by nearly half. LME copper stocks fell 50 per cent, while refined production rose only 4 per cent against a 6 per cent surge in demand.
Zinc surged 4.5% as smelter shutdowns in Japan, Italy, and the US shrank supply. LME zinc stocks plunged to a two-year low of 38,000 tonnes, pushing the market into tight backwardation unseen since 1980.
Aluminium climbed 5 per cent, buoyed by easing US-China tensions and shrinking warehouse stocks, which are down 14 per cent this year. With global demand expected to soar nearly 40 per cent by 2030, supply strains are set to linger.
Energy markets flickered between hope and hesitation. Crude oil slipped 2.6 per cent on weaker demand despite geopolitical flare-ups, while natural gas gained 3.1 per cent as winter loomed and AI-driven power demand lifted consumption forecasts.
Central banks held steady, with the RBI keeping rates at 5.5 per cent and trimming inflation forecasts to 3.1 per cent. The Fed paused its balance-sheet runoff after two rate cuts this year, as the US shutdown stretched past 30 days.
From bullion dips to base metal breaks, the month painted a picture of cooling glitters and glowing grit, proof that in commodities, it’s never all gold that glitters.
Brands
Tanishq enters natural gemstone segment with Triptii Dimri campaign
Hues collection debuts ahead of Akshaya Tritiya, spotlighting self-expression
MUMBAI: Tanishq is stepping into the natural gemstone jewellery space with a new campaign featuring actor Triptii Dimri, marking a strategic expansion ahead of Akshaya Tritiya.
The launch introduces the brand’s latest collection, ‘Hues’, a design-led range crafted in 18kt gold and built around 100 percent natural gemstones. The move signals Tanishq’s intent to tap into a fast-growing category driven by consumers seeking authenticity, individuality and expressive styling.
Conceptualised by Lowe Lintas, the campaign film leans into the idea of colour as a form of self-expression. Set in a muted, almost paused world, the narrative comes alive as Dimri selects her jewellery, triggering a burst of colour that transforms her surroundings. The visual metaphor captures how jewellery is evolving from occasion-led adornment to a more personal, mood-driven choice.
The ‘Hues’ collection draws inspiration from the vibrancy of an Indian summer, featuring gemstones such as emeralds, amethysts, citrines, tourmalines and tanzanites. With sculptural forms and techniques like cabochon cuts and layering, the designs aim to bring depth, movement and a contemporary aesthetic to fine jewellery.
Titan Company Limited chief marketing officer Pelki Tshering said, “‘Hues’ marks a bold new chapter as we introduce natural gemstone jewellery in India. The collection reflects the evolving Tanishq woman who is expressive and confident, and seeks jewellery that mirrors her individuality.”
Sharing her perspective, Triptii Dimri said, “What I love about this collection is how it celebrates self-expression through colour. It feels less about occasion and more about expressing who you are in the moment.”
Priced from Rs 30,000, the collection is positioned for both everyday wear and special occasions. To coincide with the festive season, the brand is also rolling out promotional offers, including discounts on making charges and gold rate protection schemes.
With Hues, Tanishq is not just adding a new category but also reshaping how jewellery is worn and perceived, placing personal expression and colour firmly at the centre of its design philosophy.
