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
Celebrate Akshaya Tritiya with Timeless Investment From Candere
Blending Tradition With Modern Design, Candere’s Akshaya Tritiya Edit Redefines Gold and Diamond Jewellery As Everyday, Wearable Investments
Akshaya Tritiya has always been a significant occasion, rooted in the belief that investments made on this day bring lasting prosperity. Traditionally associated with buying gold, it has long symbolised good fortune and “eternal success.” Today, however, the way we celebrate the occasion is evolving. While the essence of inviting prosperity remains unchanged, the focus has shifted beyond simply storing gold. It is now equally about personal expression and meaningful gifting.
Jewellery is increasingly becoming an extension of individual style pieces that not only carry the auspicious sentiment of the day but are also designed to be worn and enjoyed every day.
Candere, the lifestyle jewellery brand from the house of Kalyan Jewellers, reflects this modern approach through designs that seamlessly blend tradition with contemporary aesthetics. Whether it’s a personal milestone purchase or a thoughtful gift, each piece is crafted to be both meaningful and effortlessly wearable.
Here’s what stands out in Candere’s Akshay Tritiya jewellery edit:
Parallely Braided Gold Bar Ring

A refined take on modern minimalism, the Parallely Braided Gold Bar Ring by Candere features a sleek open-band design with two parallel bars detailed in intricate braiding. Elegant and versatile, it’s perfect for everyday wear or stacking, offering a subtle blend of sophistication and contemporary style.
Oeshi Gold Pendant Necklace

A modern statement piece, the Oeshi Gold Pendant Necklace by Candere features a sleek circular design with layered accents and a bold central detail. Crafted in radiant gold and suspended on a delicate chain, it offers a perfect balance of elegance and contemporary style—ideal for both everyday wear and special occasions.
Glorious Links Diamond Chain Bracelet

This piece strikes a natural balance between occasion and everyday wear. The linked design gives it a clean, modern edge, while the diamond accents add just enough detail to make it feel special for the day. It’s easy to wear on its own or paired with a watch, and works just as well as a thoughtful gift, something that feels meaningful without being too formal.
Sleek Strength Diamond Men’s Pendant

Crafted in gold, the Sleek Strength Diamond Men’s Pendant features a streamlined, elongated form that highlights a structured, masculine design. The surface is accented with a neat arrangement of diamonds, adding a subtle touch of brilliance without overpowering its clean aesthetic. With its sharp lines and polished finish, the pendant is designed to sit comfortably against the neckline, making it a versatile piece that transitions seamlessly from everyday wear to occasion styling.
Asher Diamond Ring

The Asher Diamond Ring is defined by its geometric precision and refined construction. Set in gold, the ring features a cluster of well-cut diamonds arranged in a structured pattern that enhances their natural brilliance. The band is sleek and balanced, allowing the design to feel substantial yet easy to wear. Its contemporary silhouette, combined with classic diamond detailing, makes it ideal for both daily styling and more elevated occasions.
-
National News2 days agoShringar House of Mangalsutra Unveils 3,000+ Designs, Targets Emerging Markets Ahead of Akshaya Tritiya
-
National News3 hours agoThe commodities market is seeing a significant upward trend for precious metals. Silver sees a sharp gain of Rs 3,200 per kilogram
-
National News2 hours agoCelebrate Akshaya Tritiya with Timeless Investment From Candere
-
National News2 hours agoGJEPC Hosts Exclusive Studded Diamond Jewellery BSM In Surat


