Connect with us

National News

India’s Gold Consumption Seen Falling 12% in 2025 as Prices Weigh on Jewellery Demand: WGC

Soaring gold prices curb jewellery buying, while investment demand stays resilient; lightweight 22-karat jewellery remains preferred.

Published

on

India’s gold consumption is projected to decline 12% this year to 650–700 tonnes, down from 802.8 tonnes in 2024, as a sharp rise in prices dampens demand in one of the world’s largest bullion markets, according to the World Gold Council (WGC) India.

Gold prices have surged over 65% since January, pushing the retail price to around Rs.1,32,394 per 10 grams. Elevated prices have strained affordability, particularly for jewellery buyers, even during the peak wedding season.

Despite higher prices, consumers continue to prefer 22-karat lightweight plain gold jewellery, rather than shifting to lower-karat options such as 18K, 14K, or 9K—despite the availability of hallmarking for these categories. “Indians will take time to shift to lower-karat gold jewellery,” said Sachin Jain, CEO, WGC India.

Gold demand shows a clear divergence: investment demand remains strong, while the jewellery segment is under pressure. Industry feedback indicates year-on-year declines in jewellery volumes as higher prices curb consumption. India’s total gold consumption stood at 462.4 tonnes during January–September, WGC data showed.

In value terms, gold imports rose 2% year-to-date to $55 billion, but volumes fell by about 20% to ~580 tonnes, underscoring that value growth is price-led rather than volume-driven. Mid- and small-ticket segments—critical to mass demand—remain particularly impacted.

High net-worth individuals have continued buying heavier gold pieces (100–400 grams), attracted by the ongoing price rally, though this has not been sufficient to offset broader volume weakness. Price volatility is also constraining discretionary and everyday jewellery purchases.

Retail performance reflects this split: large and mid-sized jewellers are reporting relatively healthier sales supported by higher ticket sizes and wedding-led purchases, while small and standalone jewellers face mounting pressure.

Meanwhile, investment-focused buying—especially bars and coins—continues to gain traction. Gold imports for investment surged to 340 tonnes between July and October, up from 204 tonnes between January and June, with even entry-level consumers opting for coins amid the sustained price rally.

source: World Gold Council

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

National News

Kangana Ranaut Unveils PNG Jewellers New Showroom In Ayodhya~

The Store Is PNG Jewellers’ 81st Overall and Its Fifth In UP following Lucknow, Kanpur, Gorakhpur and Varanasi.

Published

on

Member of Parliament and Indian film actor Kangana Ranaut inaugurated PNG Jewellers new store in Ayodhya. The store is PNG Jewellers’ 81st overall and its fifth in UP following Lucknow, Kanpur, Gorakhpur and Varanasi. Located next to Rikabganj Women Police Station, the new store gives Ayodhya customers access to PNG Jewellers’ products, collections, and quality service closer to home.

Dr. Saurabh Gadgil, CMD- PNG Jewellers, said:

“Opening a store in Ayodhya is a special moment for us. We have received an encouraging response from customers across Uttar Pradesh, and we are pleased to bring PNG Jewellers closer to people in and around Ayodhya. We look forward to being part of their weddings, festivals and family celebrations, while offering the legacy, trust and craftsmanship that our brand has stood for over generations.”

Kangana Ranaut added:

“Ayodhya holds a special place in the hearts of so many people, and I am delighted to be here for the opening of PNG Jewellers’ new store. Jewellery is closely woven into how we celebrate our traditions, weddings and important moments with family. I wish the PNG team every success in Ayodhya.’’

The occasion also marks the debut of Ram Katha, an exclusive collection inspired by the Ramayana and the historical, cultural and spiritual heritage of Ayodhya. Launched by Kangana Ranaut, the collection is being introduced in its initial phase across PNG stores in North India

The store also showcases a range of gold, diamond, temple and bridal jewellery for weddings, festive occasions and everyday wear. Customers can explore PNG Jewellers’ collections, including Saptam, Katha, Pratha, Eiina and Polmi, with designs crafted for local tastes.

Ayodhya, revered as the birthplace of Lord Shree Ram, draws people from across the country for its temples, festivals and deeply rooted traditions. Jewellery is closely tied to weddings, festivals and family celebrations in the city. The new store allows PNG Jewellers to serve local customers more conveniently while continuing its expansion in Uttar Pradesh. To celebrate the opening, the brand introduced limited-period inaugural offers of up to 50% off on gold jewellery making charges and up to 100% off on diamond jewellery making charges*, valid till 15th November, 2026.

Adding to the excitement of the festive season, PNG Jewellers brings together its brand ambassadors Madhuri Dixit-Nene and Ranbir Kapoor for the first time in a special festive television commercial. The campaign marks a significant moment, bringing together two of Bollywood’s most iconic stars in a celebration of tradition, elegance and contemporary appeal. This much-awaited collaboration also reflects PNG Jewellers’ vision of connecting its nearly two-century-old legacy with a new generation of consumers.

Continue Reading

Trending

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.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x