Jewellery brands bet on 9K gold as demand for affordable luxury surges amid festive rush
Since 9K gold contains 37.5% pure gold, and the rest alloy metals, it offers jewellery at a significantly lower price point compared to higher karats.
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With gold prices soaring and young shoppers craving stylish yet affordable designs, jewellery brands are betting heavily on 9-carat (9K) gold this festive season.
Industry experts said 9K gold has long remained a niche segment in India until the government approved its hallmarking in July this year. This regulatory shift has brought the low-carat gold category into the same framework as the more ultra luxurious 22K or 18K segments, making it a legitimate and accessible choice for pre-conscious consumers.
Since 9K gold contains 37.5% pure gold, and the rest alloy metals, it offers jewellery at a significantly lower price point compared to higher karats.
"Today's buyers-- especially younger, urban consumers--are looking for 'affordable luxury," said Eshwar Surana, Managing Director, Raj Diamonds.
He expects an uptick in the festive season, particularly around Dhanteras, driven by the growing acceptance of hallmarked 9K gold. "It gives people a way to buy real, hallmarked gold for the festival without a huge price tag," he added.
This growing acceptance of 9K gold is now visible across brands. Shyamala Ramanan, Business Head - Mia by Tanishq at Titan Company Limited, said, "With gold prices remaining elevated, demand growth is pronounced in the lighter, contemporary 9K segment this festive season, reflecting a wider move towards accessible luxury in gold".
According to Suvankar Sen, CEO and MD of Senco Gold and Diamond, the industry has observed around a 12–15% dip in gold jewellery quantity demand as buyers shift towards lower-kartage options such as 14K and 9K.
"With price points starting under Rs 7,000 across our platforms, we expect 9K gold to play a significant role in our festive-season performance as it aligns perfectly with modern consumers," he said.
'22K still reigns supreme'
Despite the rising popularity of 9K gold, jewellers said that traditional segments (22K or 18K) continue to dominate due to cultural significance and wedding demand. This enduring appeal underscores the importance of high-purity options in the Indian market.
Sen noted that wedding jewellery still accounts for nearly 40–50% of the 22K market.
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers, added, "We are witnessing strong demand for 22K and 18K jewellery, which remains the preferred choice for most customers".
Even as lighter gold pieces gain traction, traditional buyers are opting for smaller gold coins to retain their connections with high-purity yellow metal.
"We are seeing sustained momentum in coin purchases — gold coins in multiples of 5 grams and 10 grams remain popular, while larger silver bars between 500 grams and 1 kg are in high demand. On quick-commerce platforms, lighter 1-gram and 2-gram coins sell out quickly, often chosen as festive gifts," said Kalyanaraman.
Echoing this sentiment, Ajoy Chawla, CEO of Titan’s Jewellery Division, said consumers are rushing to buy gold coins and bars, possibly as an investment hedge.
"We are seeing a run on gold--maybe because of investment or FOMO. People think gold prices will go up further,” he said.
A day ahead of Dhanteras, when buying gold and silver is considered auspicious, the yellow metal was trading close to Rs 1.3 lakh per 10 grams in New Delhi.
