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.”
BrandBuzz
Tamannaah Bhatia Unveils “Tamannaah Fine Jewellery” Label Rooted in Everyday Elegance
The actress steps into entrepreneurship with Tamannaah Fine Jewellery, a modern fine jewellery line designed for comfort, versatility, and effortless day-to-night wear.
Actress Tamannaah Bhatia has entered the fine jewellery space with the launch of her own label, Tamannaah Fine Jewellery, marking a new chapter in her creative journey. Known for her strong screen presence and distinctive personal style, Tamannaah brings her off-screen fashion philosophy to life through a collection that champions modern minimalism, wearability, and quiet luxury.
Launched through a sleek, fashion-forward digital film, the brand signals a shift away from occasion-centric jewellery towards pieces designed for real, everyday movement. Rooted in the idea of “modern better basics”, the collection focuses on elevated essentials that strike a balance between casual sophistication and understated glamour.
The debut line features a thoughtfully curated mix of contemporary mangalsutras, solid gold hoops, piercing-friendly designs, bold chains, and diamond-studded statement pieces. Crafted in gold and diamonds, the jewellery is designed to transition seamlessly from workdays to evenings out—without compromising on comfort or style.
What sets Tamannaah Fine Jewellery apart is its strong emphasis on wearability. Each piece is designed to move with the wearer, blending effortlessly into daily routines—be it an early morning meeting, a personal moment, or a celebratory dinner. With clean lines, neutral aesthetics, and timeless appeal, the designs are easy to style across outfits, moods, and moments.
By steering clear of fleeting trends and seasonal cycles, the brand positions itself as a destination for everyday fine jewellery that feels personal, powerful, and enduring—a reflection of Tamannaah Bhatia herself.
With this launch, Tamannaah Fine Jewellery redefines what fine jewellery looks like today: modern, versatile, and made to be lived in.
Tamannaah Bhatia Unveils “Tamannaah Fine Jewellery” Label Rooted in Everyday Elegance
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