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
‘Atham PathOnam’ By Kushals Fashion Jewellery- A Festive Collection Celebrating The Spirit Of Onam
A Contemporary Jewellery Edit Inspired By Kerala’s Rich Onam Traditions
There are few celebrations as beautiful as Onam. The crisp white-and-gold kasavu sarees, beautifully crafted jewellery, fresh jasmine flowers, vibrant pookalams, and family gatherings create a festive mood that’s effortlessly elegant. Inspired by the spirit of the season, Kushals Fashion Jewellery presents its Onam Collection ‘Atham PathOnam’—a curated edit of festive jewellery designed to beautifully complement the elegance of every Onam ensemble. Popular Malayalam actor Saniya Iyappan adorns the collection, bringing its festive elegance to life.
The collection made of 18K gold plated fashion jewellery with a premium finish draws inspiration from Kerala’s rich jewellery heritage, blending traditional artistry with contemporary styling. Featuring intricately crafted temple-inspired necklaces, regal chokers, elegant harams, statement jhumkas, bangles, ear cuffs, cocktail rings, and colourful gemstone accents that instantly elevate every festive look. Antique finishes, intricate detailing, pearls, and vibrant ruby and emerald-toned stones come together to create pieces that feel rooted in tradition yet effortlessly modern.
Designed for everything from family gatherings and festive brunches to grand Onam celebrations, the collection pairs beautifully with sarees, Kurta sets, and contemporary ethnic silhouettes. Whether you prefer making a statement with bold temple jewellery or keeping it understated with elegant festive accents, the collection offers something for every style and occasion.
Manish Gulechha, CEO & Co-Founder of Kushals Fashion Jewellery Said:
“Today, Onam dressing is as much about personal style as it is about tradition.”
“Women are finding new ways to style their attire with jewellery that reflects their individuality. With this Onam collection, we wanted to create pieces that make it easy to celebrate the traditions while expressing your own unique festive style.”
Kushals’ Onam Collection is designed to be worn, celebrated, and cherished beyond the season. Because the best festive jewellery isn’t just for one occasion-it’s the kind you reach for every time you want to celebrate in style.
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