National News

Retail Gold Sales Drop 25% Amid Rising Prices, Lightweight Jewelry in Demand

Published

1 year ago

March 20, 2025

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.”

Related Topics:2025 GoldSales nationalnews Retail Gold

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National News

Harit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection

A Celebration Of Regal Femininity, Heirloom Craftsmanship, and The Refreshing Depth Of Emeralds.

Published

9 hours ago

June 4, 2026

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June 2026 A bride’s jewellery is never merely ornamental, it carries sentiment, memory, and the quiet power of tradition. With its newest Polki Collection, Harit Zaveri Jewellers introduces a refined take on royal Indian bridal jewellery, thoughtfully designed for the modern bride who embraces heritage while expressing her individuality with confidence and grace.

Crafted between 18kt to 14kt gold and enriched by Emeralds, Harit Zaveri Jewellers Polki collection celebrates a bride in her most transformative moment – poised between reflection and becoming. Every jewellery piece in the collection is designed to accompany her through this pause.

At the heart of the collection lies the richness of polki craftsmanship – raw, uncut diamonds admired for their old-world charm and regal appeal, long associated with royal Indian heirlooms. Paired with vivid emeralds, known to symbolise renewal, harmony, love, and abundance, the collection brings together heritage and elegance. The richness of green emeralds adds depth and freshness, creating jewels that feel both classic and strikingly modern.

The collection features an expansive range of statement and versatile pieces including necklaces, kadas, rings, earrings, and bridal sets, thoughtfully embellished with emeralds, pearls, and polki detailing.

This collection from Harit Zaveri Jewellers compliments classic reds and heritage weaves to contemporary ivories, pastels, and couture silhouettes. Whether layered with a traditional lehenga, paired with a modern sari drape, or styled for intimate pre-wedding celebrations, these pieces seamlessly adapt while elevating every bridal look with a quiet majesty.

These pieces are envisioned as modern heirlooms, where meticulous craftsmanship, precious materials, and timeless artistry come together to create pieces worthy of being passed down through generations.

Harit Zaveri, Joint Managing Director at Harit Zaveri Jewellers said:

“At Harit Zaveri Jewellers, we have always believed bridal jewellery should feel personal, something that reflects a bride’s story and individuality. Many of our clients naturally gravitate towards one-of-a-kind pieces that resonate with their personality and become part of their memories for years to come. With this Polki collection, we wanted to celebrate craftsmanship with the richness of emeralds, a stone that beautifully complements a variety of bridal colours and effortlessly completes a look. Above all, quality remains at the heart of everything we create because we believe jewellery should feel as enduring as the memories and moments attached to it.”