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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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Rubies Take The Centre Stage This July 2026 At Jewels By Queenie

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Ruby is the gemstone of intensity and glamour. Rubies carry a sense of magnetism that is impossible to overlook. As a birthstone of July, Ruby’s deep crimson hue is associated with royalty, desire and confidence making it one of the most precious and emotionally charged gemstones.

Designed with the label’s signature maximalist aesthetic, the pieces bring together vivid rubies and diamonds creating jewellery that feels glamorous, collectible and impossible to ignore.

Jewels by Queenie places the gemstone at the centre of attention AS THE JULY BIRTHSTONE IS RUBY. Instead of delicate interpretations, the designer amplifies the intensity of the gemstone through oversized cuts, adding character to the piece yet keeping it refined. Oversized stones and layered settings allow the ruby to dominate each design with confidence whether its cocktail rings, sculptural earrings or statement necklaces that are rich and expressive. JBQ pieces move between old world glamour boldness resulting in pieces suited for couture dressing, weddings or red carpets.

The ruby cocktail ring from Jewels by Queenie stands out particularly, it is surrounded by diamonds that creates a perfect match of bold color and timeless elegance. The earrings meanwhile balance movement, structure and colour creating pieces that feel striking.

From private showcases in London and New York to presentations across Dubai, Hong Kong and Los Angeles, Jewels by Queenie has steadily built a global presence through its bold gemstone-led creations. The label has also recently showcased at luxury venues and private members spaces including Apollo’s Muse, Bacchanalia in London. 

Rubies is one of the most desired gemstones amongst collectors and jewellery lovers because of the emotions it carries. There is an undeniable strength and sensuality to the stone making it rare and timeless across generations.

Queenie Singh, Entrepreneur – Jewels by Queenie and Beauty by Bie, transformation led advisor and former Miss India, shared:

“When I design with rubies, I never want the stone to feel quiet or understated, I want it to feel powerful, glamorous and full of presence. Rubies have a natural drama to them. They don’t whisper, they command attention. We love designing with rubies because the stone instantly transforms a jewel into something powerful, glamorous and full of character.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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