Exchange-led sales hit 50-75% as gold price shock guts fresh jewellery demand in India
With 24K gold at ₹1,52,890/10g and May imports sliding to $3.42 bn, Indian jewellers from Tanishq to Kalyan are seeing old-for-new exchanges drive 50-75% of billings. Coin and bar demand has collapsed, inventory days have swelled to 170-180, and FY volumes may fall 13-15% as retailers pin hopes on Q3 weddings.
Indian jewellery retailers report exchange-led sales now driving 50-75% of business as high gold prices and import duty hike crush fresh purchases; coin/bar demand collapses, inventory days swell, retailers bank on Q3 wedding season recovery.
Also reported by
- Mint · Industry — 4h after first sighting