National News
Retail Gold Sales Drop 25% Amid Rising Prices, Lightweight Jewelry in Demand
A 4% rise in gold prices in March has led to a significant 25% decline in retail gold sales at jewelers and a 60% drop in Zaveri Bazaar. Indian families with upcoming weddings are feeling the pinch of higher gold prices, turning to lighter, lower-carat jewelry to meet bridal jewelry demands. Despite this, demand is expected to pick up during Akshay Tritiya in April, though lightweight jewelry remains the preferred choice.
Gold prices saw a near-4% increase in the first half of March, bringing down retail sales by 25% compared to the same period last year. Zaveri Bazaar, a hub where retail jewellers buy bullion and jewelry in bulk, saw a 60% drop in sales.
Senco Gold & Diamonds, Joy Alukkas, PNG Jewellers, Mamraj Musaddilal Jewellers, and senior executives from the India Bullion & Jewellers Association mentioned that Indian families, especially those with weddings planned for the upcoming season, are stressed by the escalating prices. As a result, they are opting for lightweight jewelry, as high prices make it difficult to stick to the traditional gold jewelry budgets.
Suvankar Sen, the chief of Senco Gold, shared that sales of small-ticket gold jewelry in the ₹30,000 – ₹40,000 price range have dried up. “The high prices are keeping customers away from spending on gold,” he said. On March 18, gold was priced at ₹88,256 per 10 gm in the physical market, with a 3% Goods and Services Tax (GST), pushing the cost to ₹90,903 per 10 gm.
“Those who have weddings in the family are buying lightweight jewellery as they cannot stretch the budget. Demand has dropped by 15% beginning from March and if this rally continues, the recovery in demand may not happen. The next big sales can only happen during Akshay Tritiya, which falls on April 30,” said the MD of Senco Gold & Diamond.
Despite the rise in prices, the demand has remained sluggish in South India too. “Compared to last March, demand is down by up to 25%. While the high price is a big factor in this demand drop, other things like board exams have slowed down demand as well,” said Baby George, CEO of Joy Alukkas.
Saurabh Gadgil, chairman of PNG Jewellers, also highlighted the shift in preferences. “People are buying lightweight jewellery, and many are exchanging old gold jewellery with new ones. The volumes are getting impacted but value-wise the jewellers are not facing any issue.”
Avinash Gupta, partner at Hyderabad-based Mamraj Musaddilal Jewellers, noted that while demand has softened, it hasn’t reached alarming levels. “Demand will bounce back in April due to weddings and Akshaya Tritiya, but definitely the preference will shift to lightweight and lower caratage jewellery.”
National News
Kalyan Jewellers Celebrates ‘Bangaliana’ with Soulful Poila Boishakh Campaign
Celebrating Bengal’s Heritage, The Campaign Blends Nostalgia, Tradition, and Craftsmanship Through Storytelling and Timeless Jewellery
Kalyan Jewellers, one of India’s most trusted jewellery brands, has unveiled a new digital campaign to mark Poila Boishakh, the Bengali New Year. Featuring actress Ritabhari Chakraborty, the film is a heartfelt ode to Bengal’s cultural identity, bringing together nostalgia, craftsmanship and the enduring legacy of traditions passed down through generations.
At the heart of the film is a tender interaction between Ritabhari and a young boy, centred around the iconic ‘Talpatar Sepai,’ a traditional palm-leaf toy that reflects Bengal’s artistic roots. As the moment unfolds, the toy becomes a subtle symbol of the region’s craftsmanship and cultural memory, drawing a connection between childhood nostalgia and the finesse of handcrafted gold jewellery. The narrative then moves to a poignant moment where an elder presents a gold necklace, capturing the emotional value of jewellery in Bengali households, where each piece is not just worn, but cherished as a symbol of love, tradition and continuity. It reflects how jewellery often carries personal histories, passed down through generations as an enduring link between the past and the present.
Built around the theme “Oitijhyer Choway Notuner Boron” (welcoming the new with a touch of tradition), the campaign reinforces Kalyan Jewellers’ positioning at the intersection of cultural legacy and contemporary relevance. The brand also showcases a curated range of traditional designs inspired by Bengal’s intricate craftsmanship and grand aesthetic sensibilities.
Reinforcing its commitment to trust and transparency, Kalyan Jewellers continues to offer its signature 4-Level Assurance Certificate, ensuring purity certification, lifetime maintenance, transparent product details, and secure buy-back policies. This initiative provides customers with complete confidence during the auspicious gold-buying season.
With this campaign, Kalyan Jewellers invites consumers to celebrate the spirit of Poila Boishakh by embracing jewellery not just as adornment, but as a living expression of heritage and storytelling.
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