The glitter of a well-known market in Indore, long celebrated for its exquisite jewellery across Madhya Pradesh, had begun to fade as soaring gold and silver prices kept buyers away. Now, a new trend is reviving
interest, with customers increasingly turning to 9-carat gold as an affordable alternative that offers both shine and style.
Traders say the sharp rise in gold prices this year has changed buying patterns significantly. Sharad Baheti, a jeweller from the Sarafa market, noted that demand for 9-carat gold has surged after the government introduced hallmarking for the category. According to him, the lower cost and certified quality have restored customer confidence and brought back footfall.
In international markets such as Europe and the United Kingdom, 9-carat gold has long been popular because it is considerably cheaper than 22-carat gold, with prices per gram often up to 60% lower. For instance, if one tola of 22-carat gold costs around Rs 1.40 lakh, the same quantity in 9-carat can be available for nearly Rs 50,000, making it far more accessible for middle-class buyers.
Jewellers explain that 24-carat gold is too soft for making ornaments, which is why other metals are mixed in to improve durability. In 9-carat gold, only 37.5% is pure gold, while the remaining 62.5% consists of metals like silver, copper and zinc. This composition makes it stronger and suitable for everyday wear. Such jewellery is typically sold with a ‘375’ hallmark, indicating the proportion of pure gold, and resale value is calculated based on that 37.5% gold content.
The composition also allows for more design variety. Because of the higher presence of copper and silver, shades like rose gold and white gold appear more prominent, making items such as rings, pendants, mangalsutras, thin chains, earrings and tops especially popular. Some buyers are even opting to set real diamonds in 9-carat gold, achieving a luxurious look without the high cost of traditional gold jewellery.
Traders point out that apart from being cheaper than 22-carat gold, the added metals make 9-carat ornaments tougher and less prone to scratches or bending. The shine also lasts longer, and hallmarking has further strengthened buyer trust by ensuring authenticity and a predictable return value based on the gold content.
With Valentine’s Day approaching, jewellers say many people are considering 9-carat pieces as budget-friendly gifts. In the Sarafa market, attractive jewellery in this category can be purchased for as little as Rs 3,000 to Rs 4,000, making it an appealing choice for those who want to buy gold without stretching their finances.
