Gold Prices Rise: Easy Paying Plans from Top Jewelers in India!

Gold prices have jumped by Rs 8,300 for every 10 grams, which is around 11%. Because of this increase, popular jewelry brands in India like Tanishq, Kalyan Jewellers, and Malabar Gold & Diamonds are making it easier for people to buy gold through monthly payment plans. Here’s what each of these brands is offering:

Tanishq:
Tanishq, the famous jewelry brand from Tata, has a special plan where you can pay a minimum of Rs 2,000 every month for 10 months. If you sign up for their “Golden Harvest” account online, you can get up to 75% off your first payment. You only need to start with Rs 2,000 to open this account.

Kalyan Jewellers:
Kalyan Jewellers has also introduced easy payment plans and a loyalty program where buyers can earn rewards. Their “Dhanvarsha” plan allows people to save money for a period of 11 months to buy different types of jewelry, including gold, diamonds, and other precious products.

Malabar Gold & Diamonds:
Malabar Gold & Diamonds offers a “Golden Bloom” plan, where you can pay in 11 installments without any extra fees added for value. This plan ensures you get jewelry at the current gold price without added costs up to 18%.

According to Anuj Gupta from HDFC Securities, buying gold jewelry through monthly payments (like a SIP) is a smart move with gold prices rising. In fact, gold prices have increased a lot over the past few years—25% in 2024, and 14% and 15% in 2022 and 2023, respectively.

However, because of the high gold prices, many buyers are choosing lighter and lower-carat jewelry. The World Gold Council (WGC) has expressed worries that if gold prices stay high, demand for jewelry might drop, especially in India and China, where sales are slowing down.

With many weddings coming up, there could be more demand for jewelry in India in 2024. But the WGC says that it’s important for gold prices to stay stable for this to happen. Even though people are buying less jewelry (11% drop in consumption), spending increased by 9% to $144 billion, meaning people are still investing in gold.

(Disclaimer: This article is created by AI. The opinions and views of experts mentioned here are their own and don’t reflect the views of Thellv.news)