Jewellery Demand Rises Despite Gold Price Surge

India's jewellery industry is gearing up for one of its strongest festive seasons in years, with demand expected to rise by 20-25% between September and December. This comes despite a surge in gold prices, which climbed 9% in August, and silver jumping over 15%. Platinum also saw an increase of more than 11%

Jewellers attribute the strong demand to consumers shifting towards lighter gold pieces, lower-carat jewellery, and gold coins that are easier to sell later. Kishor Runwal, Managing Director of Anmol Jewellers, notes that silver is now pulling in buyers who once stuck to gold, thanks to cheaper price points and new designs.

Abhishek Sand, co-founder of Savio Jewellery, adds that coloured gemstone and diamond pieces are seeing the strongest orders this season. Silver is having a moment of its own, with Runwal stating it's 'outsmarting' the gold industry. He expects sales to match last Diwali rather than beat it.