Titan MD Ajoy Chawla identifies gold price volatility as the main challenge for jewelry demand, noting that traditional buyers are delaying purchases amid uncertainty over future customs duty adjustments and global price corrections.
Gold demand is dampened by price volatility and high customs duties, with consumers waiting for possible duty cuts and Fed-driven corrections.
Titan's MD cites gold price volatility as the main demand challenge, though studded jewelry and overall growth remain healthy.
Titan Company Managing Director Ajoy Chawla reports that gold price volatility, rather than macroeconomic factors, is currently dampening consumer demand. While studded jewelry sales remain robust, traditional gold buyers are adopting a wait-and-see approach due to high prices and uncertainty regarding potential customs duty cuts and Federal Reserve policy shifts.
High gold prices, driven by both international rates and customs duties, have made entry-level jewelry unaffordable for many, leading customers to wait for potential duty cuts or price corrections.
Titan is attempting to attract these customers by introducing lightweight jewelry options, though the company acknowledges that high price floors still limit the available catalog for budget-conscious buyers.