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Gudi Padwa jewellery sales flat; demand for gold coins surges

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 Gold prices have surged to nearly Rs 90,000 per 10 grams (excluding GST) in the physical market, leading to a noticeable decline in jewellery sales in Maharashtra/Goa during Gudi Padwa, a festival traditionally associated with gold purchases. Despite this, demand for gold coins as an investment remains strong, as consumers anticipate further price appreciation. Mumbai’s largest gold hub has observed a shift in consumer behavior toward gold coins and bars. Traders said  that buyers are purchasing gold coins with the expectation of future price increases.

As of Gudi Padwa, gold prices have reached nearly Rs 90,000 per 10 grams, making gold jewellery significantly more expensive. Higher prices have deterred traditional jewellery buyers, shifting demand towards investment-oriented purchases, such as gold coins. Industry experts anticipate that gold prices may continue to rise, reinforcing gold’s status as a long-term store of value.

Equal demand was observed between gold jewellery and investment-grade coins. Retailers introduced discounts and exchange offers, but high prices still impacted sales volume.Tier-2 cities experienced similar trends, with more gold coin buyers than jewellery shoppers. Lightweight jewellery, silver accessories, and gold-plated ornaments saw higher traction compared to heavy gold jewellery.

Global trade tensions and potential U.S. Fed rate cuts are boosting gold’s attractiveness as an investment. Investors are shifting towards gold due to its historical role as a hedge against inflation and economic instability The Indian Rupee’s performance against the U.S. Dollar is also a contributing factor to local gold price fluctuations.

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JAS 2026 Opens To A Grand Start; Jaipur & Dubai Strengthen Jewellery Trade Partnership

The Opening Day Witnessed An Exceptional Business Atmosphere, With Packed Exhibition Aisles, Continuous Buyer Interactions, and Enthusiastic Participation From Hosted Buyers

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The 20th edition of JAS and its 7th B2B Edition, organised by the Jewellers Association Jaipur, commenced today (on 3rd July 2026 on a grand and enthusiastic note at the Jaipur Exhibition & Convention Centre (JECC), Sitapura. The inaugural day witnessed an overwhelming response from the trade fraternity, with exhibition halls bustling with buyers, retailers, manufacturers and industry professionals from across India and overseas, setting the stage for three days of vibrant business networking and sourcing.

The show was inaugurated by  K. P. Abdul Salam, Group Vice Chairman, Malabar Gold & Diamonds, in the august presence of  Surjit Bhujabal, Member, Central Board of Indirect Taxes & Customs (CBIC);  Tawhid Abdulla, CEO, Jawhara Jewellery, Dubai; and  Pramod Kumar Agrawal Derewala, Chairman, National Gems & Jewellery Council of India (NGJCI), as Guests of Honour.

The distinguished guests were warmly welcomed by  Raju Agarwal Mangodiwala, President, Jewellers Association Jaipur;  Ajay Godha, Honorary Secretary;  Ashok Maheshwari, JAS Convenor; along with the office bearers and executive committee members of the Association.

One of the defining moments of the inaugural ceremony was the signing of a Memorandum of Understanding (MoU) between the Jewellers Association Jaipur (JAJ) and the Dubai Jewellery Group (DJG), paving the way for enhanced cooperation in trade, education, market development, business networking and international collaboration between the gems and jewellery industries of Jaipur and Dubai. Following the signing, Shri Tawhid Abdulla, CEO, Jawhara Jewellery, presented a commemorative memento to Shri Raju Agarwal Mangodiwala, President, Jewellers Association Jaipur, celebrating a new chapter in India-UAE jewellery relations.

A special welcome was extended to the visiting Dubai delegation comprising Anurag Sinha, Managing Director, Al Liali Jewellery; Ashish Garg, Head – Business, KGK Group; Mamtha Maria Francis, General Manager, Dubai Jewellery Group; and Tirth Jasani, General Manager, Lumin Luxe LLC, reaffirming the growing strategic partnership between Jaipur and Dubai.

Addressing the gathering, K. P. Abdul Salam applauded Jaipur’s unmatched expertise in coloured gemstones, stating that the city has earned global recognition as the finest centre for gemstone cutting and craftsmanship. He encouraged the industry to continue innovating and strengthening its international presence while creating greater value for global buyers.

Tawhid Abdulla welcomed stronger collaborations between Jaipur and Dubai. He encouraged Jaipur’s gemstone sector to work towards developing globally recognised branded gemstone grading and certification systems, which would further elevate consumer confidence and international acceptance. He also invited Jaipur’s manufacturers and exporters to explore greater business opportunities in Dubai, assuring the industry’s wholehearted support in building stronger trade relations and opening new avenues for collaboration.

The opening day witnessed an exceptional business atmosphere, with packed exhibition aisles, continuous buyer interactions and enthusiastic participation from hosted buyers, domestic retailers and international delegates. Exhibitors reported encouraging enquiries and strong business interest from the very first day, reflecting the confidence the industry places in JAS as one of India’s leading B2B jewellery exhibitions.

With an outstanding inaugural response and tremendous energy across the show floor, JAS 2026 has set a strong foundation for the next two days, promising even greater business opportunities, meaningful networking and international collaborations for the global gems and jewellery fraternity.

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