National News
Global Gold Demand Rises in Q1 2025 Despite Indian Jewellery Sales Slump
WGC Sees India’s Annual Demand at 700–800 Tonnes Amid Record Prices; Investment Demand Up, Jewellery Demand Hits Five-Year Low

Global gold demand rose 1% year-on-year to 1,206 tonnes in the January–March 2025 quarter, marking the highest first-quarter level since 2019, according to the World Gold Council (WGC). However, India—one of the world’s largest gold consumers—saw a 15% decline in overall gold demand during the same period, dropping to 118.1 tonnes, largely due to soaring gold prices.
Despite the volume drop, the value of gold demand in India surged 22% as retail prices jumped to ₹94,030 per 10 grams during the March quarter. Prices climbed even higher in April, breaching the ₹1 lakh per 10 grams mark in retail markets, driven by international gold prices reaching an unprecedented $3,500 per ounce.
The WGC has forecast India’s gold demand for the full year at 700 to 800 tonnes, despite affordability pressures. The average price during Q1 2025 was ₹79,633.4 per 10 grams, a significant increase from ₹55,247.2 in Q1 2024.
India’s investment demand for gold showed resilience, rising 7% to 46.7 tonnes, compared to 43.6 tonnes in the same period last year. In contrast, jewellery demand dropped sharply by 25% to 71.4 tonnes, down from 95.5 tonnes—the lowest volume since 2020. However, jewellery demand value still rose 3% year-on-year due to the elevated prices.
Meanwhile, gold imports in India rose 8% to 167.4 tonnes, while recycling volumes fell 32% to 26 tonnes as consumers preferred to hold onto their gold assets amid rising prices.

“Elevated prices have impacted affordability. Yet, the enduring cultural significance of gold—especially ahead of Akshaya Tritiya and the upcoming wedding season—continues to support buying sentiment,” said Sachin Jain, WGC India CEO.
As Akshaya Tritiya approaches, traditionally a peak time for gold purchases, consumers are adjusting their buying patterns. Many are opting for lighter jewellery or postponing purchases in hopes of a price correction. Still, experts believe gold’s dual appeal as a cultural staple and a reliable investment will sustain positive momentum in demand.

National News
Shringar – House of Mangalsutra receives SEBI’s approval for its IPO
Shringar House of Mangalsutra has received SEBI’s approval to proceed with its initial public offering (IPOs).

Shringar House of Mangalsutra filed its DRHP with the capital markets regulator on February 5, 2025, proposing a fresh issue of 2.43 crore equity shares with no offer for sale (OFS) component. The proceeds from the fresh issue, amounting to ₹250 crore, will be utilised for the company’s working capital needs and general corporate purposes.
National News
PC Jeweller Soars 33% in Two Days on Strong Q1 Revenue Growth and Debt Reduction Plans
Standalone revenue jumps 80% YoY in Q1FY26; company targets becoming debt-free by FY26

PC Jeweller Ltd witnessed a sharp rally in its stock price over the past two trading sessions, surging by 33% to touch ₹18.69 on the BSE. The surge followed an upbeat business update for the quarter ended June 30, 2025 (Q1FY26), where the company reported a standout 80% year-on-year increase in standalone revenue.
In Monday’s session alone, the stock advanced 11.8%, reflecting heightened investor optimism on the back of strong operational performance and a clear path toward financial deleveraging.
The company attributed the robust growth to high customer demand during the wedding and festive season, which continued to drive strong sales across key markets. Notably, this surge in revenue came despite considerable volatility in gold prices—showcasing customer resilience and trust in the PC Jeweller brand.
In its official filing, the company described Q1 as “very promising and fulfilling,” highlighting that sustained goodwill and brand equity have enabled it to clock a “robust performance.”
Beyond top-line growth, PC Jeweller also emphasized its focus on strengthening its financial fundamentals. The company has been steadily reducing its outstanding debt, having cut its obligations to bankers by over 50% during FY24–25. In Q1FY26, it further trimmed its debt by another 7.5%, reinforcing its commitment to achieving a debt-free status by the end of FY26.
“The company continues to revamp and strengthen all aspects of its operations, the results of which are clearly visible in its financial performance,” the management noted in a statement. It added that the company remains optimistic about maintaining strong momentum in the upcoming quarters.
PC Jeweller’s strong quarterly update and visible progress on debt reduction have caught the attention of both retail and institutional investors, marking a potential turnaround story for the jewellery brand that has seen significant headwinds in previous years.
As it continues to streamline operations and strengthen its balance sheet, PC Jeweller is positioning itself to capture further growth opportunities in India’s ever-resilient gold and jewellery market.
National News
Senco Gold Q1 Revenue Jumps 28% on Festive Demand and Store Expansion
Robust consumer sentiment and nine new showroom launches drive growth; gold prices rise fails to dent buyer appetite

Senco Gold Ltd posted a 28% year-on-year increase in total revenue for the first quarter of FY26, propelled by strong festive demand and aggressive retail expansion. The jewellery retailer’s retail revenue grew 24% during the quarter, highlighting increased footfall and consumer interest across its growing showroom network.
Sales were buoyed by festive celebrations such as Akshay Tritiya, Baisakhi, Bihu, Poila Baishakh, and Ramnavmi, particularly in core markets like West Bengal, Punjab, and Assam, where Senco holds strong brand equity. Despite a 32% spike in gold prices—ranging between ₹86,900 and ₹1,01,000 per 10 grams—consumer appetite for gold jewellery remained resilient.
During the quarter, Senco launched nine new showrooms, bringing its total store count to 179 nationwide. The company continued to focus on brand-led strategies aimed at lifestyle-focused and festive shoppers through its diverse product lines.
Looking ahead to Q2 FY26, Senco plans to open 11 additional showrooms, aiming to meet its full-year target of 20 new outlets. It also intends to scale up its sub-brands — Sennes, Gossip, and Everlite — through franchise models to deepen its reach in urban and semi-urban markets.
Shares of Senco Gold Ltd rose 2.22% on Friday, closing at ₹350.05 on the BSE, up ₹7.60 from the previous session.
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