Gold demand is on the rise despite global unrest

After a few slow months marked by high rates, there has been an uptick in demand for gold in recent days following a drop in prices. Jewellers across the city have reported a steady increase in footfall, boosted by improving confidence among buyers. As the wedding season approaches, we speak to jewellers about the current trends. Read on…

A smart investment
Amid global uncertainty, gold is reclaiming its status as a trusted investment. “Investing in gold helps protect against rising prices and a weakening currency, while balancing portfolios since it doesn’t move like stocks or bonds. Gold is now a way to diversify savings,” says Rupak Saha, director and owner, Shyam Sundar Co Jewellers. He notes, “many who had set aside money for overseas travel are now investing in gold instead. There’s also a rising demand for gold bars. Krishanu Bagchi, zonal manager, Senco Gold Ltd, added, “March-end typically sees profit conversions into gold, and with Poila Boishakh around the corner, festive buying has boosted sentiment.” Yogesh Soni of Punamchand Jewellers said, “people turn to gold because it preserves value and offers security.” Annargha Uuttiya Chowdhuury of Anjali Jewellers noted, “The dip in prices has encouraged buyers to purchase more jewellery.”

Buyers adapt to price shifts
Evolving consumer behaviour reflects steady confidence in gold despite price fluctuations. Ramesh Kalyanaraman, executive director, Kalyan Jewellers, believes cultural affinity in India transcends temporary price swings, adding that customers are gradually returning after the recent dip. Abhishek Kajaria, founder-owner, Avama Jewellers, says, “Buying is more planned and need-based. With 24K gold still around ₹14,000–₹14,800 per gram and 22K at ₹13–₹13.6K (approx), its appeal remains strong.” Bharti Bangur, founder, Bharti Bangur Fine Jewels, notes, “Demand is rising for lighter pieces.” Pratik Dugar, director, Indian Gem and Jewellery Creation, said, “Customers are opting for lower-weight designs and controlled budgets.” Dhruv Jhaveri of Madanji Meghraj Jewellers stressed, “Demand remains resilient despite volatility.”

Despite current price corrections and volatility, gold remains a resilient safe-haven asset. While some buyers track prices to time the market, most continue to trust the metal’s long-term value – Ramesh Kalyanaraman

After the sharp run-up in prices, a correction was necessary to restore balance to the market. It reinforces gold’s position not just as a commodity, but as a trusted financial safeguard – Dhruv Jhaveri

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