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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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Mahesh Notandass Jewellers & Vandals Join Sotheby’s and Somya Khurana For An Evening Of Mindful Living and Exceptional Diamonds In The Swiss Alps

An Exclusive Alpine Gathering Brings Together Mindful Living, Conscious Reflection and Extraordinary Jewellery Artistry, Featuring A Spectacular Emerald and Diamond Glove and A Statement Scarf Adorned With Hundreds Of Natural Emeralds and Diamonds

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Sotheby’s Switzerland, wellness curator Somya Khurana, Mahesh Notandass Jewellers and Vandals come together this season for a one-of-a-kind evening that pairs conscious living with uncompromising craftsmanship. This is an evening of mindful reflection, followed by an exclusive presentation of Mahesh Notandass & Vandals’ most extraordinary jewellery, including a glove made of emeralds and diamonds.

Hosted against the calming backdrop of the Col de la Croix mountain pass, the gathering will unfold at the storied Chalet Roy Alps Domaine de Rochegrosse, in the alpine resort town of Villars-sur-Ollon, a setting chosen deliberately for its stillness, its altitude, and its distance from the noise of the everyday. The evening begins with a curated wellbeing experience helmed by Somya Khurana, centred on mindfulness and conscious reflection, an invitation for guests to arrive fully present before the evening centrepiece is revealed.

For over a century, Mahesh Notandass Diamond Jewellers has been synonymous with rare stones, master craftsmanship and design that transcends trend; jewellery built not merely to be worn, but to be inherited. This exclusive presentation will showcase an edit of Mahesh Notandas and Vandals’ finest creations, offering guests a rare, private encounter with pieces that represent the pinnacle of the house’s artistry: exceptional precious stones set with the precision that has defined the Notandass name across generations.

Among the highlights of the evening are two exceptional jewellery artworks, a sculptural emerald and diamond glove featuring over 600 emeralds, and an intricately crafted scarf adorned with more than 300 natural emeralds and over 1,300 diamonds. Conceived as works of wearable art, both pieces reflect the house’s pursuit of scale, craftsmanship and extraordinary use of precious stones, blurring the line between jewellery and collectible art.

Hosted in partnership with Sotheby’s Switzerland, the evening reflects a shared philosophy across all three collaborators that true luxury is not loud. It is considered and felt before it is seen. Bringing together mindful living and fine craftsmanship in one setting, the evening positions House of Notandass at the intersection of substance and sophistication, in a location as rarefied as the jewels themselves.

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