Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, shared his expectations for the upcoming festive season
Dussehra is one of the most important buying occasions in the Hindu calendar, and with the festival falling on a weekend this year, we anticipate strong demand. While gold prices have increased recently, leading to some softening in sales in the past couple of days, overall sentiment remains bullish. Gold continues to be viewed as a sound investment, and buyers are not deterred by current price levels, focusing instead on celebrating the occasion with jewellery that brings joy and tradition together.
We are seeing strong sales momentum across all categories. Diamonds, in particular, have experienced sustained demand throughout the year, and we expect this to accelerate during Dussehra. Platinum and silver have also shown robust performance, with silver jewellery and articles expected to see significant demand as we approach Diwali. Having recently opened nine new stores during Navratri, the response has been phenomenal, indicating positive market conditions. Conversations with industry peers also suggest a promising Dussehra and Diwali season ahead, with strong sales growth anticipated, especially in terms of value, given the high gold prices.
