Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, expressed optimism about the upcoming festive season, despite ongoing price fluctuations caused by global geopolitical tensions. According to Dr. Gadgil, gold remains a safe haven for Indian consumers, with the industry expecting value growth of 15-20% during Dhanteras, even if volumes mirror last year.

“Gold’s long-term price appreciation reassures customers, even when prices rise. After a brief adjustment period, demand typically rebounds,” said Dr. Gadgil.

He also noted robust consumer interest during Dussehra, particularly in exchanging old gold for new jewellery. Rising prices have made old gold a valuable asset, with buyers opting for mid- to high-ticket purchases. Gadgil anticipates strong demand for heavier jewellery pieces like necklaces and bangles this Diwali, especially as the wedding season approaches.