As gold prices soar, jewellers bank on exchanges to shine

AS GOLD PRICES soar to record highs this festive season, jewellery retailers are walking a fine line between optimism and caution.

- KRISHNA BAROT, VIVEAT SUSAN PINTO & NARAYANAN V

While the surge in gold rates has tempered large-ticket purchases, retailers say festive demand is holding steady, driven by gold exchange offers, lightweight collections, and an increasing tilt towards studded and lab-grown diamond jewellery.

On October 9, 24-carat gold touched %1.24 lakh per 10 grams, adding to the challenges jewellers have faced since midyear. “We faced a choppy period from April 21 to September 21 due to high gold prices. Overall volume sentiment was weak. However, the onset of Navratri improved customer sentiment,’ Ajoy Chawla, chief executive officer of Titan’s jewellery division, told FE.