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High gold prices have pushed some buyers towards lower-carat and lightweight jewellery, including 9-carat and 18-carat pieces. However, pre-orders remained limited, while gold exchanges made up 80-85% of transactions,” said jeweller Manoj Soni. Soni said, industry estimates suggest that jewellery accounted for about 80% of sales, with coins and bars making up the remaining 20%. Ashish Zaveri, joint secretary of the Jewellers Association of Ahmedabad (JAA), said, “Demand for lightweight jewellery, including 9-carat and 14-carat pieces, was gaining traction.
Jewellers reported mixed trends in customer footfall and purchases. others reported subdued sales and fewer high-value purchases While some saw demand for wedding jewellery and lightweight ornaments. You Can Also Check: Gold Rate in Ahmedabad | Silver Rate in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad | Ahmedabad AQI | Weather in Ahmedabad | Petrol Price in Ahmedabad | Diesel Price in Ahmedabad | CNG Price in Ahmedabad | LPG Price in Ahmedabad Stay updated with the latest Ahmedabad news.
Jewellers said cash payments were rare as customers increasingly used UPI, credit and debit cards and internet banking transfers for purchases. The slowdown in sales is a clear function of lower agricultural earnings and crop damage, and we are hardly seeing rural buyers in the market this time around. “People bought wedding jewellery and lightweight ornaments, and also sought repair services. Silver demand was also healthy, driven partly by purchases of idols of Lord Ganesha and Goddess Lakshmi for the festive season. Silver demand remained firm as jewellers have begun offering products ranging from daily-wear pieces to heavy sets. Download the TOI App.
Ahmedabad: Gold jewellery sales in Gujarat during Dussehra fell by around 40% year-on-year, with retail sales estimated at 100- 120 kg. Gold prices rose 23.3% year-on-year to around Rs 1.50 lakh per 10 grams on Dussehra, compared with Rs 1,21,700 on the previous year’s muhurat day. Silver delivered stronger returns, climbing 44.1% to Rs 2.14 lakh per kg from Rs 1,48,500 over the same period.
Haresh Acharya, director of the India Bullion and Jewellers Association (IBJA), said, “The rally in precious metals was due to fears of global energy disruptions. Rural demand is clearly weak due to an impact on agricultural earnings owing to limited rainfall in North Gujarat and Saurashtra regions of the state. ” Rural demand remained particularly weak. Showrooms reported fewer purchases as customers largely limited spending to essential needs and minimum investments amid inflation.
Chinubhai Choksi, president of Manek Chowk Choksi Mahajan, said, “Dussehra gold sales lacked momentum. High prices and weaker purchasing power dampened demand, particularly among rural buyers. Foreign exchange instability and recent changes in import duty also influenced domestic gold prices.