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Despite high gold prices, people saw Dhanteras as an opportunity to reinvest in gold. The industry also saw men’s diamond jewellery and coloured gemstones as the hottest picks.
Modern consumers prioritized design and emotion over quantity.
This Dhanteras, despite record-high gold prices, India’s love affair with precious metals and stones only deepened, but with a new kind of mindfulness. Shoppers across metros and smaller towns alike entered showrooms not just to purchase ornaments but to make choices that balanced tradition, emotion, and long-term value.
The festive season painted a picture of evolution: the modern Indian consumer wants jewellery that tells a story as much as it retains worth.
Gold At Record Highs, But Sentiment Remains Strong
“Despite record-high gold prices, we’re witnessing renewed enthusiasm this festive season. Consumers are viewing price volatility as a strategic opportunity to reinvest whether through gold coins or by upgrading their existing jewellery,” said Ajoy Chawla, CEO of the Jewellery Division at Titan Company.
Echoing the optimism, Arun Narayan, Senior Vice President at Tanishq, said, “This festive season has been uniformly strong across markets, with consistently encouraging responses from metros as well as Tier-2 and Tier-3 towns. We’re seeing a healthy mix of purchases – from investment-driven buys above Rs 2 lakhs to high demand for lightweight jewellery and gold coins around Dhanteras.”
Value-Driven Choices And The Diamond Shift
While gold retained its festive dominance, a new story emerged this year – one of thoughtful, design-led consumption. “Families still want to mark the festival with something precious, but we’re seeing a move toward 18K, 14K and even 9K options to keep the joy of gifting alive. Value growth is up by 20–25 per cent, though volumes have dipped by about 12–15 per cent. Buyers are prioritising design and emotion over quantity,” said Suvankar Sen, MD & CEO of Senco Gold & Diamonds.
Adding perspective, Joita Sen, Director and Head of Design & Marketing at Senco Gold & Diamonds, described this shift as intimate. “We met customers bringing heirloom pieces to redesign into something that fits modern life,” she said, noting a rising demand for diamond and platinum jewellery, as well as accessible 9K options for inclusive celebrations.
Sandeep Kohli, CEO, Indriya Aditya Birla Jewellery, adds, “High gold prices are making consumers more measured in their purchases. Many are opting for lighter and lower-karat gold jewellery, but a clear trend that is emerging is that consumers are becoming even more discerning – seeking superior design, uncompromising quality, exceptional service, and, above all, trusted brands.”
Diamonds Take Centre Stage
“With gold prices soaring, consumers are gravitating towards natural diamond-studded jewellery crafted with minimal gold,” noted Eshwar Surana, Managing Director, Raj Diamonds. He highlighted growing interest in coloured gemstones and men’s diamond accessories like brooches, zipper necklaces, and collar cuffs, showing a clear sign of how modern luxury is becoming more expressive and gender-fluid.
As Dhanteras 2025 fades into the wedding season, one thing is clear: the Indian jewellery market is moving from impulse to intention. Whether it’s recycled gold turned into modern heirlooms or diamonds redefining everyday elegance, the future of festive jewellery is emotional, thoughtful, and unmistakably bright.
Delhi, India, India
October 21, 2025, 10:00 IST
