{"id":33863,"date":"2025-10-27T10:18:14","date_gmt":"2025-10-27T04:48:14","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=33863"},"modified":"2025-11-06T15:30:25","modified_gmt":"2025-11-06T10:00:25","slug":"diwali-sparkle-unfazed-by-soaring-gold-silver-prices","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/diwali-sparkle-unfazed-by-soaring-gold-silver-prices\/","title":{"rendered":"Diwali Sparkle Unfazed by Soaring Gold & Silver Prices"},"content":{"rendered":"

This year\u2019s Dhanteras-Diwali festival saw resilient demand for precious-metal and gemstone jewellery in India despite record-high gold and silver prices. For gold and silver alone, the jewellery market recorded roughly \u20b960,000 crore in value during Dhanteras, up about 25% year-on-year, as reported by newspaper Mint<\/em>.<\/p>\n

Gold broke all-time records of ~\u20b91,34,800 per 10 gm and silver surged to ~\u20b91,69,230 per kg, thus boosting overall value even as volumes declined.<\/p>\n

Gold jewellery volumes are estimated to have fallen by around 10-15% this Dhanteras compared with last year, while value rose by ~20-25% as buyers shifted to coins, lightweight designs and lower-gram formats, reported The Economic Times.<\/em>
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\n<\/em>Overall, the festival highlighted two aspects: strong wallet spend (thanks to price inflation) and shifting buyer behaviour \u2014 lighter gold, high-purity silver coins\/bars, and more diamond jewellery \u2014 as consumers adapted to metal-price headwinds.<\/p>\n

Mahesh Bapna, President, Mumbai Wholesale Gold Jewellers Association,<\/strong> revealed: \u201cThe mood in Zaveri Bazaar was one of elation during this Dhanteras-Diwali. In terms of volume, \u00a0we saw around a 10\u201312% boost in sales volume, though it was slightly lower compared to last year because of the record high gold prices. Consumers leaned more towards practical choices, with gold and silver coins being the most popular buys. Silver was in great demand, and sales were 1.5 times higher than last year! Lightweight gold coins, in particular, saw strong demand as customers preferred smaller denominations. In contrast, jewellery sales were relatively muted. However, overall, the sentiment was incredibly positive, with people continuing the tradition of investing in precious metals, but in a more thoughtful and value-conscious manner this year.\u201d<\/p>\n

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\u00a9 World Gold Council<\/figcaption><\/figure>\n

Senco Gold & Diamonds reported the highest-ever retail sales for the month of October in its 85+ year-old history, clocking sales of over \u20b91,700 crore, backed by robust festive buying for Diwali and Dhanteras. This marked a 56% year-on-year growth over October last year. Gold sales in value went up by 60% year-on-year, while the value of diamonds grew 32%.<\/p>\n

Despite soaring gold prices that reached a record high of \u20b9132,294 per 10 grams on October 31, Senco\u2019s sales grew in both value and volume (4% in gold, 5% in diamonds, and 8% in silver).<\/p>\n

\u201cThese record numbers reflect a very positive customer sentiment, indicating which way the graph will go in the months to come. We are fully prepared to meet the strong demand in the upcoming wedding season and through Q3 and Q4. Our teams are committed to constantly launching exciting new designs as per customer preferences across India. We are rigorously working on ensuring operating leverage, enhanced EBITDA, and improvement in inventory management to enhance Return on Capital Employed (ROCE) and Return on Equity (ROE),\u201d said Suvankar Sen, Managing Director & CEO.<\/strong><\/p>\n

For Q1, Q2, and the first month of Q3FY26, Senco\u2019s year-on-year retail value growth stood at 25%, which included 19% Same Store Sales Growth (SSSG). The brand launched three new showrooms in October\u2014in Itawa, Bikaner, and Dehradun\u2014expanding its retail footprint to 185 showrooms in India and two in Dubai.<\/p>\n

P N Gadgil Jewellers Limited recorded festive season sales of \u20b9606 crore during Diwali 2025, reflecting a robust 74% growth over the previous year. Dhanteras alone contributed \u20b9277 crore \u2014 the company\u2019s highest-ever single-day festive sales \u2014 marking an exceptional 105% year-on-year increase. Despite gold prices climbing nearly 60% compared to last year, gold volumes expanded by 10% to 390 kg, while diamond and silver volumes rose by 47% and 17%, underscoring resilient consumer sentiment and sustained demand across all key segments. Dr. Saurabh Gadgil, Chairman and Managing Director of P N Gadgil Jewellers Ltd., <\/strong>said: \u201cThis Diwali marks yet another milestone in our journey. We are truly grateful for the continued trust and love our customers place in our brand, craftsmanship, and service. Looking ahead to the wedding season, we remain highly optimistic. With customer sentiment remaining positive, we are well-positioned to continue this strong momentum.\u201d<\/p>\n

Vikram Talwar, Managing Partner, Talwarsons- Anil Talwar Group, <\/strong>revealed, \u201cWe witnessed decent volume growth (low double digits) for 22-karat jewellery, but a dip in 14-karat and 18-karat volumes, as clients preferred a purer form of the yellow metal. On Dhanteras, although our volume growth was in single digits, it was way better than our expectations, with customers flocking to the store despite record-high gold rates. I sensed a strong \u00a0FOMO (fear of missing out) among customers, who anticipated prices to rise further. Of course, purchases were also driven by the bridal season. With many people having made solid returns on gold investments over the past six months, I foresee a decent momentum going forward!\u201d<\/p>\n

Santosh Kataria, Managing Director, D.P. Abhushan Ltd.,<\/strong> shared, \u201cDuring the festive period of Navratri and Dussehra 2025, our company achieved record festive sales of \u20b9237 crore, marking an impressive 85% year-on-year growth across gold, silver, diamond, and other jewellery categories. With positive consumer sentiment and the onset of the wedding season, we remain optimistic about future demand. Our continued focus on design-led diamond collections, backed by a strong gold jewellery base across our stores, positions us well for sustained growth in the coming quarters.\u201d<\/p>\n

Piyush Gupta, Director, PP Jewellers by Pawan Gupta, Delhi,<\/strong> said, \u201cThis Dhanteras, we saw around a 10\u201312% boost in sales, though it was slightly lower compared to last year because of higher gold prices. Consumers leaned more towards practical choices, with gold and silver coins being the most popular buys. Lightweight gold coins in particular saw strong demand as customers preferred smaller denominations. Overall, the sentiment was positive, with people continuing the tradition of investing in precious metals, but in a more thoughtful and value-conscious manner this year.\u201d<\/p>\n

Amit Bandi, CEO, Kumari Fine Jewellery, Mumbai, <\/strong>stated, \u201cThe gold market is highly sentiment-driven, and its behaviour shifts notably between price rises and dips. The current dip has largely been influenced by global geopolitical conditions, which continue to create uncertainty in the commodities market. Predicting the exact trajectory for gold and silver prices at this stage is therefore difficult.<\/p>\n

\u201cInterestingly, consumer behaviour around gold is often counterintuitive. During festivals or auspicious occasions, when prices rose, sales surged as consumers viewed the purchase as both auspicious and financially prudent.<\/p>\n

\u201cNow that the festive period has passed and the market has cooled slightly, the recent dip has prompted a more cautious approach among consumers. Many prospective buyers are choosing to wait and observe market trends, anticipating another upward movement in prices before making their next investment. This \u2018wait-and-watch\u2019 phase is typical of post-festive sentiment, and we expect momentum to pick up again once stability returns to the market.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

This year\u2019s Dhanteras-Diwali festival saw resilient demand for precious-metal and gemstone jewellery in India despite record-high gold and silver prices. For gold and silver alone, the jewellery market recorded roughly \u20b960,000 crore in value during Dhanteras, up about 25% year-on-year, as reported by newspaper Mint. Gold broke all-time records of ~\u20b91,34,800 per 10 gm and…<\/p>\n","protected":false},"author":3,"featured_media":33864,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107,79],"tags":[],"thb-sponsors":[],"class_list":["post-33863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail","category-viewpoint"],"acf":[],"yoast_head":"\nDiwali Sparkle Unfazed by Soaring Gold & Silver Prices - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/diwali-sparkle-unfazed-by-soaring-gold-silver-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Diwali Sparkle Unfazed by Soaring Gold & Silver Prices - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"This year\u2019s Dhanteras-Diwali festival saw resilient demand for precious-metal and gemstone jewellery in India despite record-high gold and silver prices. 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