Jewellery and gifting demand in Ahmedabad has improved ahead of Rakshabandhan, with jewellers reporting increased interest in gold and silver rakhis, coins and lightweight jewellery despite elevated precious-metal prices.

Gold prices in Ahmedabad reached around INR 1.7 lakh per 10 grams, compared with INR 1.02 lakh during Rakshabandhan last year. Silver was trading at about INR 2.45 lakh per kg, against INR 1.17 lakh a year earlier.

According to Jigar Soni, President, Jewellers’ Association of Ahmedabad, demand has been particularly strong for gold and silver rakhis, coins and gift articles priced up to ?5,000. Consumers are also increasingly considering jewellery as a Rakshabandhan gift.

Within jewellery, 9-carat and 14-carat gold, along with lab-grown diamonds, are gaining traction. Lightweight chains of up to 2 grams, rings and other everyday jewellery are also seeing demand as consumers manage purchases against higher gold prices.

Param Begani, Director of a lab-grown diamond jewellery company, said demand for lab-grown diamond jewellery has increased, particularly among younger consumers, as high gold prices influence buying preferences.

Ahmedabad jeweller Ashish Zaveri said demand had improved following a recent correction in precious-metal prices. He also noted rising interest in 9-carat gold among younger consumers, while 22-carat continues to attract buyers seeking higher purity.

Jewellers also reported the beginning of wedding-related purchases, while silver rakhis and gold jewellery weighing between 1.5 and 2 grams are recording demand ahead of the festival.