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To increase the sales of gold ornaments amid the huge rise in prices, jewelers are now promoting 14 carat gold jewelry.
Ornaments always add to the beauty
New Delhi: Due to high and fluctuating prices, gold sales have fallen over 50 percent. This is the biggest drop in volume after Covid-19. According to India Bullion and Jewelers Association (IBJA), that is the reason that customers stayed away from gold, reports Dynamite News correspondend.
Gold prices are fluctuating in July as well but there has been no major drop in prices yet. On Monday, the price of 10 grams of gold increased by Rs 600. On Tuesday, the price of gold fell by Rs 200 to Rs 99,370 per 10 grams and yesterday on Wednesday it further fell to Rs 99,280 per 10 grams.
Surendra Mehta, IBJA National Secretary said that there seems no sign of immediate increase in demand of gold.
"We do not see any immediate recovery in demand. Many units making gold jewellery across the country have reduced their production by almost half. He said that this is affecting the small players. This is a very difficult time for the gold business. Despite giving discounts, the volume demand is not increasing," said Mehta.
Surendra Mehta further said that his association has held several rounds of talks with the Bureau of Indian Standards (BIS) so that the facility of hallmarking can be started for 9 carat gold as well.
He said that BIS has told us that they have prepared a model of hallmarking for 9 carat jewellery. We hope that the government will soon give the green signal for hallmarking.
Gold & Silver prices are flucatuating daily
Trade analysts are of the opinon that the price of gold is continuously going up at the international level. The reason for this is the threat of US President Donald Trump to impose more tariffs on the European Union and Mexico. This has again increased the trade tension.
To increase the sales of gold ornaments amid the huge rise in prices, jewelers are now promoting 14 carat gold jewelry. Infact, 14 carat jewelry is cheaper than the 22 carat gold commonly used in making jewelry. Because of this, it has become a more practical option for jewelry buyers.
Rajesh Rokde, Chairman of All India Gem and Jewelry Domestic Council (AIGJDC) said that 14 carat gold ornaments are a good option to increase the sales of gold.
Rokde said, "The demand for 14 carat gold is increasing in India."
"I think this trend will increase further, because the demand for light weight jewelry is increasing. These give beauty but do not weigh heavy on your pocket," added Rajesh Rokde.
The gold rates in Delhi surged on 17 July, 2025. Going by the rates today, the price of 10 grams of 22-carat gold is at Rs 91,150 with a hike of Rs 50 while the rate of 10 grams of 24-carat gold is at Rs. 99480 with a hike of Rs 50.
