Jewellery Industry Braces for Strongest Diwali Season Amid High Gold Prices

Gold prices jumped 9% in August and silver rose over 15%, yet India's jewellery industry is bracing for its strongest festive season in years, with demand expected to rise by 20-25% between September and December.

Jewellers attribute this phenomenon to consumers changing their buying habits rather than being deterred by high prices. They're opting for lighter gold pieces, lower-carat jewellery, and easier-to-sell gold coins.

Abhishek Sand of Savio Jewellery stated that 'The Diwali will be jewellery Diwali; it is going fantastic', adding that coloured gemstone and diamond pieces are seeing strong orders this season. Silver, too, has found favour with buyers due to cheaper price points and new designs.

Kishor Runwal of Anmol Jewellers said silver sales may match last year's figures rather than surpass them, and highlighted the growing trend of exchanging old gold and silver for new pieces, which helps keep metal circulating within the country.