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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.”

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Senco Celebrates The Moments That Make Every Day Special With Its New ‘Halke Phulke Moments’ Campaign

Inspired By Senco Gold & Diamonds’ Lightweight Jewellery Collections, The Campaign Celebrates Jewellery That’s Effortless To Wear and Meaningful Enough For Every Day.

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Life can get heavy. Deadlines pile up, calendars stay full and routines rarely slow down. But in the middle of it all are the halke phulke moments that make every day brighter—a coffee break that turns into a long conversation, ticking off a long to-do list, receiving an unexpected compliment, a spontaneous dinner plan, dressing up simply because it feels good, or celebrating a birthday, promotion, anniversary or personal milestone. Big or small, planned or spontaneous, these are the moments that make life meaningful.

Inspired by this thought, Senco Gold & Diamonds introduces ‘Halke Phulke Moments’, a campaign that celebrates making space for everyday joy through its lightweight jewellery collections. This includes the brand’s signature lightweight range, alongside thoughtfully crafted jewellery in 9KT, 14KT and 18KT gold. The campaign encourages people to embrace jewellery as part of everyday living—not something you save for special occasions, but something you wear while creating them.

Designed for contemporary lifestyles, the collections combine effortless wearability, refined craftsmanship, and modern design. Featuring versatile chains, pendants, earrings, rings, bracelets, bangles, necklaces, mangalsutras, and other everyday essentials, each piece is created to transition seamlessly from workdays to weekends, coffee catchups to celebrations, adding just the right touch of sparkle without ever feeling occasion-bound.

Because when life gets heavy, it’s the halke phulke moments that deserve to shine. Whether it’s dressing up simply because it lifts your mood, celebrating a personal achievement, reconnecting with loved ones, or embracing the little moments that make every day memorable, lightweight jewellery becomes more than an accessory—it becomes part of your story, making the everyday feel just a little more special.

Speaking about the campaign, Joita Sen, Director and Head of Marketing & Design, Senco Gold & Diamonds, said:

“Life doesn’t slow down, but it gives us countless reasons to smile every single day. ‘Halke Phulke Moments’ is about embracing those little pockets of joy that make life feel lighter and celebrating the everyday. Through our lightweight jewellery collections across 9KT, 14KT and 18KT gold, we’ve created pieces that become a natural part of your daily life, from morning meetings and coffee catch-ups to celebrations with loved ones.

Whether it’s your favourite pair of earrings, a pendant that holds a special memory, a bracelet you wear every day or a ring you never take off, these pieces are designed to move effortlessly with you. They are versatile, easy to wear, and a reminder that while jewellery can feel beautifully light, the memories and emotions it becomes part of are truly priceless.”

As consumers increasingly embrace jewellery as an extension of personal style rather than something reserved only for festive occasions, lightweight designs have become an essential part of the modern wardrobe. Versatility, comfort, and timeless design now sit alongside craftsmanship, allowing jewellery to transition effortlessly from everyday routines to life’s celebrations.

With ‘Halke Phulke Moments’, Senco celebrates the conversations, routines, milestones, and spontaneous joys that quietly make life beautiful. Because life’s most memorable moments aren’t always the loudest—they’re often the ones woven into our everyday. And those moments deserve to be celebrated every single day.

The lightweight collections, with select designs across 9KT, 14KT, and lightweight 18KT gold, are available in an extensive range of chains, pendants, earrings, rings, bracelets, bangles, necklaces, mangalsutras, and more across Senco Gold & Diamonds showrooms, app, and website.

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