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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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With Presence In 29 States and 240 Cities and 100+ Accredited-Partners, IAGES Aggressively Grows To 550+ Accredited Partner Outlets Pan India

IAGES Expands Its National Footprint, Strengthening Trust, Transparency, and Standardisation

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The Indian Association for Gold Excellence and Standards (IAGES), a self-regulatory body has crossed the 100+ accredited partner landmark, establish a strong presence with 550+ partner outlets. With its footprint spanning 240+ cities pan India, IAGES consolidates its position as the facilitator of trust, transparency, and standardisation in the gold sector.

The IAGES accreditation network today spans the entire gold value chain—bringing together refiners, bullion traders, manufacturers, assaying and hallmarking centres, retailers, and digital gold retailers under a unified framework. While retailers form the majority, having actively adopted the industry-defined code of conduct and standardised their business practices, the growing participation across segments reflects strong industry confidence in the accreditation process. With many more partners currently in the pipeline, the momentum continues to build toward a more transparent and accountable gold ecosystem.

Kaushlendra Sinha Said:

“IAGES represents a truly pan-India network from Kashmir to Kanyakumari and from Mumbai to Kolkata, reiterating the industry’s need for a standard code of conduct uniting businesses under a common framework of best practices. We are delighted to achieve this landmark and continue our endeavours to reach out to each and every gold business in the country. While we have accredited large national players, it gives us happiness that small and medium players are coming forward in large numbers which is a true representation of the success and acceptance of IAGES by the Gold Industry.”

Members are IAGES-accredited only after a comprehensive assessment of their business practices across the entire value chain is conducted by an independent third-party assessor. An accreditation is highly beneficial for both business and consumers. For gold jewellers, it reflects verified practises, ethical conduct, operational excellence and consumer trust and loyalty while for consumers, it means their certified retailer has sourced and manufactured their gold only after the most rigorous standard of authenticity and integrity have been met.

While IAGES remains focussed on building trust and transparency for the gold buyers, the organisation has initiated a consumer awareness campaign – ‘Before you buy gold, #PehlaCheckIAGES’. The campaign aims to create a shift in the gold-buying mindset by placing the power of making an informed choice on the buyer only after verifying that their retailer is IAGES-accredited.

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