Organised jewellers to sustain growth despite 80% gold price surge: Nuvama
Nuvama expects organised jewellers to ride wedding and festive demand even as gold prices spike 80% YoY. Consumers are pivoting to lightweight 9k/14k/18k pieces and old-gold exchanges (~50% of revenue). The recent import duty hike from 6% to 15% may trim volumes 3-5% near-term through Q4FY26-Q1FY27.
Nuvama says organised jewellers will sustain growth despite 80%+ gold price surge, driven by wedding/festive demand. Consumers shift to lightweight, lower-carat (9k/14k/18k) pieces and old-gold exchanges. Recent duty hike to 15% may dent volumes 3-5% near-term.