Suvankar Sen, MD & CEO of Senco Gold, has projected that gold prices in India may rise from the current ₹1,30,000 per 10 grams to around ₹1,50,000 per 10 grams, provided global market conditions remain supportive. He highlighted that gold has consistently appreciated each year and expects the trend to continue if prices stabilize around $4,100–4,200 per ounce.
Sen attributed potential gains to anticipated US interest rate cuts and increased global liquidity, which could prompt investors to favour precious metals amid stock market uncertainties.
Shift in Consumer Buying Patterns
While physical gold buying has declined by 7–10% due to rising prices, consumers are adapting by opting for lighter jewellery and different purities:
- 22-carat shifting toward 18-carat in plain gold
- 14-carat in diamond jewellery
- 9-carat for gifting products
Senco Gold is also aligning its offerings with regional preferences, such as Temple-style jewellery in the South, Filigree in the East, Kundan in the North, and Polki in the West, with wedding collections in the 25–50 gram range.
Diamonds and Investment Trends
Demand for diamonds remains robust, with 10–15% growth in both value and volume, as diamond prices have not risen at the same pace as gold. While lab-grown diamonds currently occupy a small share of the market, they are gaining popularity for larger pieces, particularly for destination weddings.
Sen expects long-term demand for both gold and diamonds to remain strong due to evolving consumer preferences, shifts in purity choices, and continued investor interest.
Summary
Senco Gold CEO Suvankar Sen predicts that Indian gold prices could reach ₹1.5 lakh per 10 grams if global trends hold, driven by US rate cuts and market liquidity. Consumers are adapting to higher prices with lighter jewellery and varied purities, while demand for diamonds continues to grow steadily.
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