India's listed jewellers have posted their best March quarter on record. Strip out a 79% rise in the gold price, and a quieter, more uncomfortable picture emerges — one the unorganized trade and several regional listings have already started to live with.

World Gold Council’s Q1 2026 report shows global gold demand rose 2% year-on-year as record prices reduced jewellery volumes but boosted bar, coin and ETF investment demand worldwide.

Jewellery retailers across India face rising dead inventory levels, with 30–40% unsold stock locking capital, driven by changing consumer preferences, rising gold prices, and slower movement of traditional designs.

Platinum Guild International’s Q4 2025 review highlights regional market shifts, with platinum gaining share across China, India, Japan, and the US as record gold prices influence consumer demand patterns.

As gold prices fluctuate, and consumer preferences evolve, manufacturers are reshaping design, caratage, and pricing to position gold as everyday wear with inherent value, observes Dhwani Rathod.

Jewellery retail is shifting from event-based transactions to long-term customer relationships. As buying behaviour evolves, repeat customers are emerging as the most reliable drivers of profitability, stability and sustained growth for retailers.

Changing consumer behaviour, rising gold prices and faster buying cycles are driving demand for lightweight, high-rotation jewellery, forcing retailers to rethink inventory planning, merchandising strategies and sales approaches.

Buying activity softened as laboratory-grown diamonds and gold prices reshaped loose diamond trade dynamics at IIJS Bharat Signature 2026. Exhibitors observed slower conversions, but continued relevance, for natural diamonds, reports Khursheed Mistry.

Dhirsons Jewellers launched a 9 Karat diamond jewellery collection in New Delhi on December 22, 2025, addressing price-sensitive demand as rising gold costs influence consumer buying patterns in fine jewellery.

DP Jewellers organised its first jewellery masterclass in Indore, offering over 55 participants expert guidance on styling, gemstone pairing, and maintenance techniques, further strengthening the brand’s commitment to customer education and trust.

Despite soaring gold rates, PC Jeweller delivered a robust second-quarter performance, posting higher profits and stronger revenues as consumers continued to purchase lighter-carat jewellery and gold coins across India.

Hyderabad-based Goyaz secures its first institutional funding to expand retail presence, strengthen design and manufacturing, and accelerate its position in the affordable occasion-led jewellery category.

As gold prices soar to historic highs this festive season, Indian consumers are redefining the way they buy jewellery — opting to exchange and recycle old gold instead of making fresh purchases. The surge in exchange-driven sales has set new records across leading jewellery brands, signalling a major shift in festive buying behaviour amid skyrocketing prices.

India’s gem and jewellery exports record a steady recovery in the first half of FY2025–26, witnessing a growth of 3.66% to US$14.09 billion between April and September 2025 compared to US$13.60 billion in the same period last year