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What is the story about?
With Dhanteras around the corner on Saturday (October 18), jewellers across India are gearing up for a surge in festive purchases, driven by a mix of cultural traditions, wedding-season momentum, and evolving consumer preferences.
Industry experts indicate that despite elevated gold prices, buyers remain enthusiastic, opting for both investment-grade metals and lightweight, design-focused jewellery.
Speaking on the festive trends, Atul Sinha, COO of CaratLane, said, “Consumer interest is very strong heading into Dhanteras this year. Customers are visiting stores early for festive and wedding-season purchases, showing optimism and readiness to celebrate."
Sinha noted that while gold prices are high, Indian consumers rarely postpone jewellery purchases for traditional occasions. Instead, buyers are adjusting budgets by exploring lightweight designs, lower karat gold like 9KT and 14KT, or diamond-studded pieces, blending emotional and material value.
Ricky Vasandani, CEO & Co-founder of Solitario Diamonds, also observed that “consumer sentiment remains buoyant. High gold prices have made buyers more selective, but the intent to purchase hasn’t diminished. Many are opting for lightweight, design-rich pieces or exploring lab-grown diamonds, which offer luxury, value, and sustainability. Gold coins and bars continue to attract investors seeking tangible assets, though consumers are balancing traditional gold with fine diamond jewellery.”
From an investment perspective, experts stress the enduring value of gold and diamonds.
Samit Guha, MD & CEO of MMTC-PAMP, said, “Gold’s cultural significance during the festive season has a proven track record as a hedge against economic changes. Consumers continue to invest in 24K gold products and are considering coins, bars, and digital gold as safe and convenient alternatives.”
Darshan Desai, CEO of Aspect Bullion & Refinery, highlighted macroeconomic influences, noting that “gold prices remain high due to global factors such as potential interest rate cuts, trade tensions, and central bank buying trends.
"Seasonal demand during Dhanteras and Diwali will further drive domestic gold purchases," he added.
Diamonds are also seeing growing popularity, especially among millennials and Gen Z consumers.
Eshwar Surana, MD of Raj Diamonds, said, “With rising disposable incomes and shifting preferences, diamond-studded jewellery—crafted with minimal gold—is gaining traction. The bridal market is seeing a shift toward natural diamonds, while lifestyle-oriented designs for everyday wear are in demand.”
Kaushlendra Sinha, CEO of the Indian Association for Gold Excellence and Standards (IAGES), emphasised trust and authenticity, adding, “Consumers today seek certified and hallmarked gold, valuing transparency, ethical sourcing, and long-term assurance. Young buyers are making informed decisions, choosing jewellery that combines contemporary design with traditional appeal.”
ALSO READ | Gems and jewellery exports rise over 6% in September; cut and polished diamonds, platinum lead gains
Industry experts indicate that despite elevated gold prices, buyers remain enthusiastic, opting for both investment-grade metals and lightweight, design-focused jewellery.
Speaking on the festive trends, Atul Sinha, COO of CaratLane, said, “Consumer interest is very strong heading into Dhanteras this year. Customers are visiting stores early for festive and wedding-season purchases, showing optimism and readiness to celebrate."
Sinha noted that while gold prices are high, Indian consumers rarely postpone jewellery purchases for traditional occasions. Instead, buyers are adjusting budgets by exploring lightweight designs, lower karat gold like 9KT and 14KT, or diamond-studded pieces, blending emotional and material value.
Ricky Vasandani, CEO & Co-founder of Solitario Diamonds, also observed that “consumer sentiment remains buoyant. High gold prices have made buyers more selective, but the intent to purchase hasn’t diminished. Many are opting for lightweight, design-rich pieces or exploring lab-grown diamonds, which offer luxury, value, and sustainability. Gold coins and bars continue to attract investors seeking tangible assets, though consumers are balancing traditional gold with fine diamond jewellery.”
From an investment perspective, experts stress the enduring value of gold and diamonds.
Samit Guha, MD & CEO of MMTC-PAMP, said, “Gold’s cultural significance during the festive season has a proven track record as a hedge against economic changes. Consumers continue to invest in 24K gold products and are considering coins, bars, and digital gold as safe and convenient alternatives.”
Darshan Desai, CEO of Aspect Bullion & Refinery, highlighted macroeconomic influences, noting that “gold prices remain high due to global factors such as potential interest rate cuts, trade tensions, and central bank buying trends.
"Seasonal demand during Dhanteras and Diwali will further drive domestic gold purchases," he added.
Diamonds are also seeing growing popularity, especially among millennials and Gen Z consumers.
Eshwar Surana, MD of Raj Diamonds, said, “With rising disposable incomes and shifting preferences, diamond-studded jewellery—crafted with minimal gold—is gaining traction. The bridal market is seeing a shift toward natural diamonds, while lifestyle-oriented designs for everyday wear are in demand.”
Kaushlendra Sinha, CEO of the Indian Association for Gold Excellence and Standards (IAGES), emphasised trust and authenticity, adding, “Consumers today seek certified and hallmarked gold, valuing transparency, ethical sourcing, and long-term assurance. Young buyers are making informed decisions, choosing jewellery that combines contemporary design with traditional appeal.”
ALSO READ | Gems and jewellery exports rise over 6% in September; cut and polished diamonds, platinum lead gains
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