On this page

Gold slides 23% from January peak as jewellers brace for Diwali volumes below last year

Our read

Diwali jewellery sales will hold up in value but fall short of last year in volume, as the 23% drop from gold's January peak fails to bring buyers back in numbers.

For operators

Plan Diwali inventory for volumes below last year even with the usual 15-20% peak-season lift, and concentrate assortment and offers on the Rs 1.5-3 lakh ticket band that Kama's Colin Shah expects, since gold at about $4,155/oz, 23% off the January peak, has not yet brought buyers back in volume.

Watch

Spot gold holding near $4,155/oz versus breaking lower or rebounding toward the $5,419 record

The report

Gold fell more than 23% from its January peak, with MCX gold at Rs 1,49,270 per 10 grams on October 5. Kama Jewellery's Colin Shah expects Diwali ticket sizes of Rs 1.5 lakh to 3 lakh, while industry players expect volumes below last year.

Spot gold is down from its January 28 record to just above $4,155 per ounce on October 5
Spot gold record, January 28, 2026$5,419 per ounce
Spot gold, October 5just above $4,155 per ounce

down more than 23%

Embed

Paste this HTML where the chart should go. It shows the current chart and links back to the report.

Download PNG

Part of the Festive Sale Tracker 2026

  • wudhomes: +Rs 2.5 crore pre-seed
  • MakeO: +₹90 Cr raised

Reported figures

From the report. Source details below

Peak-season demand spikes: about 15-20%
Spot gold on October 5: just above $4,155 per ounce

What to track next

  • MCX gold moving materially away from Rs 1,49,270 per 10g during the festive week
  • Jewellers' Diwali commentary on whether the 15-20% peak-season spike was achieved
  • Reported festive ticket sizes staying inside Rs 1.5-3 lakh or sliding below it
  • Company statements comparing festive volumes with last year

The source

Source Read the source at Moneycontrol Filed

First seen

By