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Madhuri Dixit inaugurates 20000* sqft jewellery shopping destination for PNG Jewellers at Laxmi Road, Pune

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Retail expansion in jewellery aligns with the consumer response in any given market. Phenomenal popularity and product demand call for unprecedented expansion, and one such instance was exhibited by PN Gadgil Jewellers, widely known for its commitment towards excellence across a legacy of 193 years of business and counting, with the launch of a new store besides renovation of its flagship showroom, both at Laxmi Road in Pune, on 23 March, 2025.

Catering to rising demand across all categories of gold, diamond, platinum, and colour gemstone jewellery in the Pune market, the two stores were jointly inaugurated by Bollywood diva Madhuri Dixit in the presence of Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers; Mr. Parag Gadgil, and members of the PNG Jewellers family.  The combined area of the two large-format stores now reach a staggering 20,000 sq. ft.* 

Dr. Saurabh Gadgil, Chairman and Managing director of PNG Jewellers said, “Pune holds a special place in our hearts, as it is where our flagship store continues to stand as an example to our heritage and trust. Now, the brand has a total of 53 stores across the world. As we strive to strengthen our retail network further, this expansion brings us closer to our patrons, ensuring they have convenient access to the finest jewellery, steeped in tradition and craftsmanship. We look forward to serving the people of Pune with the same commitment to quality, craftsmanship, and trust.”

Ushering in a completely modern in-store experience while respecting Maharashtrian tradition, the renovated flagship showroom has been redesigned akin to heritage Wada courtyard houses intrinsic to the state. Exclusively retailing in gold jewellery of Kalkatti, temple, antique, and kundan designs, the flagship showroom specialises in bridal jewellery along with a dedicated wedding lounge replete with private make-up stations to give the brides-to-be the attention they deserve. The new 2-storey showroom, on the other hand, stands tall as a hub of the studded categories including diamond, platinum, uncut, polki, and precious colour gemstone jewellery. The expansion has now diversified the product range of PNG Jewellers by an impressive 30-40%, thus giving buyers across all categories better options for an immersive and satisfying shopping experience.    

Commenting on the continuing legacy of the brand, ambassador and Bollywood superstar Madhuri Dixit said, “It is a privilege to be a part of this historic event with PNG Jewellers, a company known for its excellence and tradition. Their commitment to preserving tradition while embracing modern designs truly sets PNG Jewellers apart. PNG has always stood for trust, tradition, and timeless craftsmanship.”

The new store of PNG Jewellers is located 500 meters away from their flagship store, and has rolled out exclusive offers such as 0% deduction on old gold exchange, up to 40% off on gold jewellery-making charges, and up to 100% off on diamond jewellery-making charges respectively to celebrate the grand inauguration.

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National News

MCX Gold Futures For June Delivery Slip , Geopolitical Uncertainty Keeps Bullion in Focus

International Bullion Markets Remained Volatile As Investors Monitored Developments In US-Iran Negotiations

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Gold and silver prices traded lower on Thursday amid easing US Treasury yields and improving global market sentiment, even as geopolitical tensions surrounding the US-Iran conflict continued to influence investor outlook. On the Multi Commodity Exchange (MCX), gold futures for June delivery slipped Rs. 206 to Rs. 1,59,800 per 10 grams, while silver contracts for July delivery fell Rs. 1,350, or 0.5%, to Rs. 2,72,915 per kilogram.

International bullion markets remained volatile as investors monitored developments in US-Iran negotiations. US President Donald Trump indicated that talks with Iran were in their “final stages” but cautioned that failure to secure an agreement could trigger renewed military action, keeping risk sentiment fragile.

Analysts said precious metal prices continue to be supported by concerns over inflation and safe-haven demand. The partial closure of the Strait of Hormuz has sustained elevated crude oil prices, fuelling worries about supply disruptions and inflationary pressures.

A softer US dollar and a pullback in Treasury yields also offered some support to bullion after recent bond market volatility. However, expectations of a hawkish stance from the US Federal Reserve continue to weigh on sentiment, with policymakers signalling that further rate hikes may be considered if inflation remains above target.

Market participants are now closely watching progress in US-Iran talks, movements in crude oil prices, and upcoming manufacturing and services PMI data from major economies for further direction in bullion markets. Domestically, higher import duties on gold and silver are expected to keep demand subdued, with prices likely to remain range-bound in the near term.

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