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India’s gold demand improves as prices dip

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Gold demand in India saw a slight improvement towards the week’s end as prices fell from record highs, yet remained below normal levels. Discounts in China persisted due to low activity, and India’s imports are predicted to drop significantly by 85 per cent in February. Meanwhile, gold trades in Singapore, Hong Kong, and Japan show varying premiums and discounts.

India’s gold demand improved in the second half of this week but remained lower than normal as prices retreated from all-time-high levels, while traders continued to offer discounts in China as activity remained lacklustre. Domestic gold prices were trading around 84,750 rupees per 10 grams on Friday after hitting a record high of 86,592 rupees last week.

Indian dealers this week offered a discount of $12-$27 an ounce over official domestic prices, inclusive of 6 per cent import and 3 per cent sales levies, down from the last week’s discount of $35.

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SSI Delhi 3rd Edition Marks A New Inflection Point  For India’s Silver Ecosystem

The Show Redefined Silver As The Ultimate Canvas For Modern Fashion and Heritage Craft. It Highlighted Lightweight Innovation and Modern Luxury

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Silver Show of India (SSI)- Delhi 3rd Edition held at Yashobhoomi (IICC), Dwarka, New Delhi marked a significant moment for India’s evolving silver jewellery and articles ecosystem. Against a backdrop of historically high gold prices and shifting consumer preferences, silver is moving beyond its traditional positioning as an alternative metal to emerge as a compelling canvas for fashion, luxury, lifestyle and retail innovation.

Silver Show of India(SSI)- Delhi 3rd Edition was inaugurated at by Chief Guest Vijay Khanna,Director – Khanna Jewellers along with Guest of Honour Ajay Talla, Chairman – Talla Jewellers(Jammu). Present at the inauguration were Dr Chetan Kumar Mehta, Chairman-SSI, President- JAB, , Amit Jindal, Gurugram Jewellers Association and Jigar Patel, Jaykrishna Jewellers.Representing IBJA were Anurag Rastogi, North India Head, Kanaya Kakad, Jt Treasurer, Surendra Mehta, National Secretary. Rajesh Lunkad, Director- JAB, Sreekanth Urs, CMD-GES Worldex India Pvt Ltd and dignitaries from the GJ sector.

The show  opened with tremendous energy in Delhi, bringing together 290 exhibitors across 710 stalls and around 11,000 buyer registrations.

Vijay Khanna, Khanna Jewellers said:

“It is heartening to see the massive response to SSI, the driver of growth of silver sector . I wish SSI all the best- and pray that it sees larger growth and response year on year.”

Dr Chetan Kumar Mehta,Chairman-SSI & President- JAB said:

“SSI is not just an exhibition- it is a lifeline for the silver industry.When trade and industry speak about silver, invariably they mention SSI.This show has been instrumental in driving the growth of silver.Today silver is, truly, the new gold.”

Sreekanth Urs CMD, GES Worldex India Pvt. Ltd:

“At SSI Our focus remains on creating a strong platform for business, innovation, networking and new opportunities across the silver trade.The growth we have witnessed in Delhi reflects the confidence the silver industry has placed in SSI. I sincerely thank our exhibitors, buyers, visitors and industry partners for their continued support.”

A defining theme at the showcase was the industry’s ability to balance heritage craftsmanship with contemporary commercial demands. Buyers and retailers showed strong interest in high-quality, lightweight designs that deliver visual volume and luxury appeal without excessive grammage. Advanced manufacturing techniques such as casting, hollow-forming and electroforming are enabling manufacturers to achieve this balance.

At the same time, traditional artistry is being refreshed through modern finishes. Kundan, meenakari, nakash, temple and tribal-inspired designs are being paired with contemporary treatments such as black rhodium and rose-gold plating, creating distinctive collections suited to modern consumers.

Silver’s growth is also extending beyond jewellery. Luxury silverware, sacred sculptures, home décor, gifting, wedding keepsakes and corporate products are opening new avenues for retailers and manufacturers. Dedicated collections for men and younger consumers, including minimalist chains, signet rings and oxidised designs, further demonstrate the category’s expanding reach.

The marketplace also reflected a growing emphasis on value over volume. Retailers showed willingness to invest in differentiated designs, superior finishes and craftsmanship, while buying sentiment remained cautiously optimistic ahead of the festive and wedding seasons.

SSI Delhi 3rd Edition ultimately highlighted a sector in transformation—one where heritage provides the emotional foundation and innovation drives commercial relevance. The next phase of silver’s growth will depend on how effectively the industry combines traditional artistry with precision engineering, lightweight design, advanced finishes and expanding lifestyle categories.

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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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