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Lighter pieces, smarter buys: What jewellers are betting on this festive season

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Lighter pieces, smarter buys: What jewellers are betting on this festive season

Lighter pieces, smarter buys: What jewellers are betting on this festive season

The backdrop is a record-priced metal. Between April and June, India’s jewellery demand fell 15 per cent by volume, even as total spending on gold hit a record Rs 1.98 lakh crore. The quarter’s average domestic price was Rs 1.51 lakh per 10 grams, against Rs 94,876 a year earlier, before duty and GST. In May, the Prime Minister asked households to avoid buying gold jewellery for a year unless needed, and the effective import duty rose from 6 to 15 per cent.

Bengaluru: Gold at around Rs 1.5 lakh per 10 grams has not dimmed the mood in India’s showrooms. It has changed what is on the shopping list. Pieces are lighter, carats are more varied, and trading in an old ornament for a new one is now ordinary. Jewellers say shoppers have found their own way to celebrate. The backdrop is a record-priced metal. Between April and June, India’s jewellery demand fell 15 per cent by volume, even as total spending on gold hit a record Rs 1.98 lakh crore. The quarter’s average domestic price was Rs 1.51 lakh per 10 grams, against Rs 94,876 a year earlier, before duty and GST. In May, the Prime Minister asked households to avoid buying gold jewellery for a year unless needed, and the effective import duty rose from 6 to 15 per cent. Advt

Prices have eased from their August highs. 47 lakh per 10 grams; which is nearly16 per cent above last year’s pre-Dhanteras close of Rs 1,27,008.


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