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Published
Oct 7, 2022
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Gold jewellery sales increase 30% this Dussehra

Published
Oct 7, 2022

Indian gold jewellery sales increased by 30% year-on-year this Dussehra festive season, spelling high hopes for the upcoming Diwali and Dhanteras festive periods. The increase has been facilitated by factors including a drop in gold prices and positive consumer sentiment as Covid-19 fears diminish. 

Gold jewellery is shining this festive season - GJEPC India- Facebook


“Our stores have witnessed more than 30% sales this Dussehra,” said Joyalukkas Jewellery’s CMD Joy Alukas, ET Bureau reported. “There has been a lot of pent-up demand in the market and consumers have spent on the precious metal. The demand for lightweight contemporary jewellery was more. We have also seen people buying coins too as an instrument for investment.”
 
Summer saw high gold prices which led to muted consumer sentiment. However, this Dussehra, prices of 22 carat gold, usually used for making jewellery, dropped to below Rs 50,000 per 10 grams which led shoppers to have more confidence to buy gold. 

High gold sales during Dussehra indicates that this trend could continue into the winter festivities. Gold jewellery retailers will thus be eyeing a return to pre-Covid levels of spending during the winter wedding season, a traditional time to buy more heavyweight, bridal jewellery. 

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