On the Multi Commodity Exchange (MCX), gold futures for December delivery rose ₹458 or 0.41% to hit an all-time high of ₹1.10 lakh per 10 grams.
In overseas markets, Comex gold futures for December delivery advanced to an all-time high of ₹3,694.75 per ounce.According to Alukkas, the rally has triggered a wave of enquiries from customers keen on buying investment products like coins and bullion.
Despite elevated prices, the cultural significance of gold
during weddings and festivals continues to support jewellery sales, especially in the southern markets where plain 22-carat jewellery dominates.
However, the sharp increase in prices has also altered buying patterns. Nearly 60% of new jewellery purchases are happening through exchange schemes, where customers trade old ornaments for new ones while paying only the making charges.
This trend has helped jewellers sustain revenues, even though volumes are down by about 25%.
At the same time, some households are using the rally as an opportunity to liquidate long-held jewellery to meet immediate needs such as property purchases or marriage expenses.
Jewellers, including Jos Alukkas, are facilitating this through structured buyback policies, recycling gold through refiners, and bringing it back into circulation.
Watch this video for more.
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