“This article expresses my personal analysis based on publicly available financial data and market reports.”
22k and 24k Gold Price Drop: Gold demand fell 25% on Dussehra, but investments increased significantly!
With the start of the festive season, a strange trend was observed in India—gold prices reached record highs, but demand fell by 25%. While people had expected to buy gold on Dussehra, as usual, this time the wait for a “22k and 24k gold price drop” proved costly. Instead of falling, prices increased, and people invested more in gold coins and bars than in jewelry.
22k and 24k gold prices drop amid falling demand and rising prices
According to data from the India Bullion & Jewellers Association (IBJA), gold demand this Dussehra was only 18 tonnes, compared to 24 tonnes last year. This represents a 25% decline. Interestingly, sales by value saw a jump of 30-35%. This was all due to high gold prices, which this time reached ₹1.16 lakh per 10 gm.
According to Surendra Mehta, National Secretary of IBJA, “Last year Dussehra was a better one as the volume of gold sold was 24 tonnes. This year the price went up to Rs 1.16 lakh per 10 gm, which directly impacted the demand.” It would not be wrong to say that “22k and 24k gold price drop” has now become a distant dream for the people, as there are no signs of gold prices falling at this time. High Prices Change Shopping Methods
When buyers saw that gold prices had reached ₹1.16 lakh per 10 gram, along with 3% GST and 15–30% manufacturing charges, they changed their shopping strategies. Lightweight jewelry and gold coins have taken over the market, replacing heavy necklaces and bridal sets.
According to reports from jewelers, customers are now pre-booking for Dhanteras, Diwali, and the wedding season. They believe the “22k and 24k gold price drop” won’t happen anytime soon, so booking now is the safest option.
There is no question about the cultural relevance of gold—purchasing gold during Dussehra is a part of our tradition. Individuals feel that it represents good fortune, wealth, and success. But this time, even though the quantity purchased was small, people maintained their faith in terms of value.
Coins and Lightweight Jewelry Become Investor Favorites
According to Saurabh Gadgil, MD of PNG Jewellers, gold and silver coins were in highest demand this Dussehra. Investors showed greater interest in purchasing 5 gram gold coins and 20 gram silver coins. This is a clear signal that people are buying gold for long-term investment, not just waiting for a “22k and 24k gold price drop.”
Lightweight jewelry is also seeing significant growth. Old gold exchanges are playing a major role in sustaining demand, with 50–55% of total sales coming from this segment. This means people are exchanging their old gold and investing in new designs, which is driving market activity.
Regional Trends: North vs. South India
In Central India, wedding jewelry—such as diamond, lightweight, and polki designs—set a very positive tone in the market. Vikas Kataria, promoter of D.P. Abhushan, says, “Despite higher gold prices, sentiment remains strong.” People didn’t postpone wedding purchases, but instead adopted smart buying.
On the other hand, the scenario in South India was a bit different. Here, buyers showed interest in purchasing gold bars instead of jewelry. According to Varghese Alukkas, MD of Jos Alukkas, “Gold bars of 10 gm to 20 gm are selling more. Customers are leaning more towards pure gold, while the trend for diamond jewelry remained comparatively slow.” Old gold exchange also increased by 55–60% here, making it clear that people are recycling their old gold instead of buying fresh.
Emotional Value and Future Outlook
Although gold prices have reached record levels, Indian buyers’ emotional connection to gold will never be broken. Buying gold is a ritual every year during Dussehra, Dhanteras, and Diwali, and this time too, people continued this tradition in their own way.
Industry experts say that if international prices stabilize, some relief may be available. However, for now, a “22k and 24k gold price drop” is not expected in the short term. Buyers are now viewing gold not as a luxury, but as a safe asset and inflation hedge.
Retail rates on Friday touched ₹1,16,883 per 10 gm, excluding GST — a testament to the fact that gold has now become a high-value commodity, where the price of each gram carries both emotional and financial weight.
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Disclaimer: This is an informational article. The information and quotes used are from credible sources, but readers should consult experts before taking any kind of financial decision. Prices of gold rely on the condition of the market, and patterns about the “22k and 24k gold price drop” could shift in the short term.
Source : The Times of India - 22k Gold Price
✍️ Written by Nikhil Singh
Market & IPO Analyst | Business News Writer | Tech-Auto Observer
Nikhil has been tracking Indian IPOs, consumer brands, tech & automobile overview and financial trends since 2019. His writing style blends market insight with a relatable human voice — making complex data simple for everyday investors.
