National News
Gold Demand Drops Over 25% During Festive Season Amid High Prices
Gold demand in India declined sharply by 28% during the first phase of the festive season, spanning from Raksha Bandhan to Onam, according to data from the India Bullion & Jewellers Association (IBJA). This marks the steepest drop in three years, attributed mainly to soaring gold prices, which saw a nearly 49% year-on-year increase.
Retail prices reached approximately Rs.10,540 per 10 grams (including GST), up from Rs.74,500 during the same period last year. The significant price surge impacted consumer sentiment, leading many to either postpone purchases or opt for more affordable alternatives like lower-karatage and lightweight jewellery.
While overall sales volume fell, some jewellers reported a rise in sales value—by as much as 25–30%—due to the higher prices. The average weight of lightweight jewellery also declined, shifting from 7–12 grams to around 7–10 grams.
In urban and northern markets, there has been growing demand for 18K jewellery, which offers classic designs at more accessible price points. Southern markets continue to show a preference for traditional 22K jewellery, though typically in lighter weights to accommodate tighter budgets.
Lower-karat options such as 14K and 9K gold have gained significant traction, particularly among cost-conscious consumers. Jewellers noted a notable rise in 9K gold jewellery sales, including from major brands introducing collections in this segment.
Despite the drop in jewellery purchases, investment demand for gold has remained stable, with consistent interest in gold coins and small jewellery pieces, particularly in the 2–10 gram range.
Some retailers reported a modest increase in volume and a strong uptick in sales value in the lead-up to the festive season, and expectations remain optimistic for stronger demand during Navratri and Diwali. Manufacturers are also adjusting production strategies to align with changing consumer preferences, focusing more on lightweight and lower-karatage designs.
National News
MMTC-PAMP Appoints Sidharth Malhotra As Brand Ambassador
As Part Of The Association, Sidharth Will Lead MMTC-PAMP’s New Integrated Campaign, ‘Purest And More,’ Showcasing The Brand’s Expanding Portfolio Across Physical Precious Metals, Digital Investments and Responsible Gold Recycling.
MMTC-PAMP, India’s only London Bullion Market Association (LBMA)-accredited Good Delivery Gold & Silver refiner, today announced acclaimed actor Sidharth Malhotra as its Brand Ambassador, marking a significant milestone in the brand’s journey to strengthen its connection with a new generation of consumers. As part of the association, Sidharth will lead MMTC-PAMP’s new integrated campaign, ‘Purest And More,’ showcasing the brand’s expanding portfolio across physical precious metals, digital investments and responsible gold recycling.
The integrated campaign showcases MMTC-PAMP’s complete ecosystem, from 24K 999.9+ purest gold and silver coins and bars to digital gold and silver, gold recycling, online purchasing and assured buyback services. Through relatable, everyday moments and festive celebrations, the campaign reinforces MMTC-PAMP’s position as India’s most trusted precious metals brand while making gold ownership more relevant, accessible and convenient for today’s consumers.
Announcing the association, Samit Guha, Managing Director and CEO, MMTC-PAMP said:
“We are delighted to welcome Sidharth Malhotra to the MMTC-PAMP family. Sidharth has built a strong reputation through authenticity, credibility and a modern outlook—qualities that closely reflect the values of our brand. As one of India’s most admired and influential actors, he enjoys a deep connect across generations, making him an ideal ambassador as we continue expanding the reach of MMTC PAMP among both seasoned investors and first-time buyers.
This partnership comes at an exciting phase in our growth as we continue to redefine precious metals ownership through innovation, responsible sourcing and world-class quality. Through our ‘Purest And More’ campaign, we are showcasing how MMTC-PAMP today offers far more than physical gold—from digital investments and online buying to gold recycling and assured buyback—while remaining uncompromising on purity and trust.”
The campaign film unfolds through a series of relatable family moments around a wedding celebration, with Sidharth naturally introducing consumers to MMTC-PAMP’s diverse offerings. The storytelling highlights that every MMTC-PAMP offering is backed by the brand’s commitment to purity, trust and convenience while reinforcing its promise of “Purest And More.”
Speaking on the association, Sidharth Malhotra said:
“MMTC-PAMP has built a remarkable reputation for purity, trust and innovation, while also modernising the way people invest in and experience precious metals. Whether it’s celebrating life’s milestones, building long-term wealth or embracing more responsible choices through recycled gold, the brand continues to stay relevant for today’s consumers. I’m excited to be part of this journey and look forward to connecting with people through the ‘Purest And More’ campaign.”
The association brings together one of India’s most recognised actors with one of the country’s most trusted precious metals brands at a time when consumer interest in certified physical gold, digital gold and sustainable precious metals solutions continues to grow. With Sidharth Malhotra as the face of the brand, MMTC-PAMP aims to further strengthen its leadership position while deepening engagement with a younger, digitally connected audience.
The campaign will be amplified across television, digital platforms, social media, print, retail stores and e-commerce channels, with dedicated creatives highlighting key offerings including digital gold and silver, festive gifting, Virasat recycled gold, Akshaya Tritiya, Diwali and MMTC-PAMP’s certified purity credentials.
Link to the TVC (YouTube):
Link to the TVC (Instagram):https://www.instagram.com/p/DciH4s7tim5//
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