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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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National News

Senco Gold & Diamonds Brings Festive Cheer With “Dhanteras Shagun”, Offering Exclusive Savings and Rewards

The Festive Offer Features Up To ₹14,000 Off Per 10 Grams On Gold Jewellery, Up To 36% Off On Diamond Value, and Lucky Draw Prizes Including Gold Worth ₹1.20 Crore and An iPhone 18 Pro.

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As Dhanteras approaches, Senco Gold & Diamonds has announced “Dhanteras Shagun”, a special festive offer celebrating the tradition of buying gold and jewellery during this auspicious time of the year. The offer will be available across Senco Gold & Diamonds showrooms from 26 October to 8 November 2026.

Dhanteras holds special significance in Indian households, with gold purchases traditionally associated with prosperity, good fortune and new beginnings. Through this campaign, Senco Gold & Diamonds aims to make festive jewellery shopping more rewarding while offering customers an opportunity to explore its diverse collections.

As part of the offer, customers can avail up to Rs 14,000 off per 10 grams on gold jewellery and up to 36% off on natural diamond value. The offer also includes 0% deduction on old gold exchange. Customers can participate in a lucky draw featuring prizes including gold worth ₹1.20 crore and an iPhone 18 Pro. An assured gift is available on every purchase, while SBI Credit Card holders can avail an instant discount of up to ₹7,500, subject to applicable terms and conditions.

Commenting on the occasion, Suvankar Sen, CEO and Managing Director of Senco Gold Limited, said:

“Dhanteras is deeply rooted in our cultural traditions and represents prosperity, optimism and new beginnings. Gold has always held a special place in these celebrations, bringing families together across generations. With Dhanteras Shagun, we hope to make this festive occasion even more meaningful for our customers. At Senco, we believe jewellery is not just an adornment but also a part of the memories, traditions and milestones that families cherish over the years.”

Joita Sen, Director & Head of Marketing and Design, Senco Gold & Diamonds, added:

“Dhanteras is an auspicious occasion that celebrates prosperity, new beginnings and the joy of bringing home something precious. At Senco Gold & Diamonds, we aim to make every festive purchase meaningful by bringing together exquisite designs, timeless craftsmanship and attractive offers. With our special Dhanteras offers, we make this festive purchase even more rewarding, giving customers more reasons to celebrate with jewellery they will cherish for years to come.”

Senco Gold & Diamonds offers an extensive and diverse jewellery portfolio this festive season. From gold coins, a popular choice during Dhanteras, to exquisite gold and natural diamond jewellery, Senco’s expansive offerings ensure there is something for every festive celebration, gifting occasion and milestone.

Customers can visit their nearest Senco Gold & Diamonds showroom from 26 October to 8 November 2026 to avail the Dhanteras Shagun offer. Terms and conditions apply.

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