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

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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

Nine Days, Nine Colours: Style Your Navratri Looks With CANDERE BY KALYAN JEWELLERS

Each day of Navratri brings a new colour to wear and another reason to dress up. Jewellery can follow the colour of the day or provide a contrast: diamonds lift a bright festive outfit, while coloured gemstones add interest to a simpler one.

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Each day of Navratri brings a new colour to wear and another reason to dress up. Jewellery can follow the colour of the day or provide a contrast: diamonds lift a bright festive outfit, while coloured gemstones add interest to a simpler one.

For the nine days of celebration, Candere by Kalyan Jewellers brings together diamond and gemstone jewellery that can be styled in more than one way. A pair of earrings worn for a puja can work just as well for an evening of garba; a ring or bracelet can add a finishing touch without asking you to change the rest of your look. The edit offers ideas for pairing jewellery with each day’s colour while choosing pieces you will reach for long after Navratri. Here’s a curated edit-

Day 1 | Orange 

Bring the vibrancy of orange to life with the Dewdrop Delight Diamond and Fancy Gemstone Collar Necklace, featuring colourful gemstones and diamond accents in a statement-making collar silhouette. The matching Dewdrop Delight Diamond and Fancy Gemstone Hoop Earrings carry the same gemstone detailing into an easy-to-wear hoop design, creating a coordinated look that feels festive yet contemporary. Together, the pieces bring colour and sparkle to an orange ensemble while keeping the jewellery look cohesive.

Styling Tip: Pair the set with an orange lehenga, saree or kurta set and keep additional jewellery minimal to let the coordinated necklace and earrings take centre stage.

Day 2 | White

Floral Rush Pearl Diamond Pendant Necklace + Pearl Blossom Essence Diamond Dangle Earrings. For white day, bring together the timeless elegance of pearls and the brilliance of diamonds. The Floral Rush necklace adds a delicate focal point around the neckline, while the Pearl Blossom Essence earrings introduce a graceful drop silhouette. The combination works beautifully for a look that feels festive yet refined.

Styling Tip: Wear the pairing with a white saree, chikankari ensemble or ivory lehenga. Keep the rest of the jewellery understated and let the pearls add softness to the look.

Day 3 | Red

Zona Diamond And Fancy Gemstone Dangle Earrings + Zona Diamond and Fancy Gemstone Collar Necklace. Make a statement in red with the coordinated Zona pairing. The dangle earrings and collar necklace bring together diamonds and colourful gemstones, creating a more expressive look that feels right at home with Navratri dressing. The collar silhouette adds definition around the neckline, while the earrings carry the colour upwards for a balanced finish.

Styling Tip: Style the pair with a classic red saree or lehenga and a clean neckline. Skip a heavy maang tikka or layered necklace so the collar design remains the focal point

Day 4 | Royal Blue

Celestial Peacock Diamond and Gemstone Oval Bracelet + Soft Love Peacock Diamond and Gemstone Dangle Earrings. Royal blue calls for jewellery with an equally regal presence. The Celestial Peacock bracelet combines diamonds and colourful gemstones in an ornate oval silhouette, while the Soft Love Peacock earrings echo the same peacock-inspired detailing. Together, they create a festive pairing that adds colour and character to the look.

Styling Tip: Pair with a royal blue silk saree or lehenga and opt for a sleek bun or pulled-back hairstyle to let the earrings shine.

Day 5 | Yellow

Rosalina Diamond Earrings + Rosalina Diamond Ring. Keep yellow day bright and effortless with the delicate Rosalina pairing. The diamond earrings add a subtle sparkle around the face, while the matching ring brings the same refined touch to the hands. Together, they create an elegant combination that complements the cheerful warmth of yellow without competing with it.

Styling Tip: Pair the duo with a yellow saree, anarkali or contemporary kurta set and add a few slim bangles for a subtle festive finish.

Day 6 | Green

Darshi Diamond And Gemstone Oval Bracelet + Shritika Diamond and Gemstone Pendant Necklace. For green day, bring together floral-inspired detailing and colourful gemstones. The Darshi bracelet adds a delicate touch to the wrist with its floral theme, while the Shritika pendant necklace creates a graceful focal point at the neckline. The combination keeps the look elegant while allowing the colour of the outfit to remain prominent.

Styling Tip: Style the pairing with a deep green saree or lehenga and keep your earrings minimal so the floral and gemstone details remain the focus.

Day 7 | Grey

Anahita Diamond Stud Earrings + Anahita Diamond Ring. Grey brings a more understated mood to the Navratri palette, making it the perfect canvas for diamonds. The Anahita studs offer a clean, refined touch around the face, while the matching ring carries the look through to the hands. Worn together, they create a polished combination that proves festive dressing can be subtle too.

Styling Tip: Pair the set with a silver-grey saree or contemporary grey lehenga and add metallic footwear or a clutch for a modern festive finish.

Day 8 | Purple

Hanshi Diamond And Fancy Gemstone Dangle Earrings + Jasika Diamond and Gemstone Pendant Necklace. Bring a touch of drama to purple day with colourful gemstones and statement silhouettes. The Hanshi dangle earrings add movement and sparkle, while the Jasika pendant necklace creates an elegant focal point around the neckline. Together, they lend a rich, festive finish to the deeper hue of purple.

Styling Tip: Pair the duo with a deep purple saree or lehenga and keep the neckline relatively clean to allow the pendant to stand out.

Day 9 | Peacock Green

Equipoise Diamond and Gemstone Gap Ring + Emeris Diamond Necklace. Close the nine-day celebration with the jewel tones of peacock green. The Equipoise ring brings together diamonds and colourful gemstones in a contemporary open design, while the Emeris diamond necklace adds a refined layer of sparkle around the neckline. The contrast of a modern ring with an elegant necklace makes this pairing feel festive while still being easy to personalise.

Styling Tip: Wear the pair with a peacock green saree or lehenga and add just one or two slim bangles. The mix of colour and diamonds is enough to finish the look.

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