Affordable Gold? 9K Jewellery Gains Popularity Amid Soaring Prices

Amid persistently high gold prices, Titan-owned brand Mia by Tanishq has begun offering 9 carat (9K) gold jewellery in select cities. The initiative is designed to cater to value conscious buyers looking for more affordable gold options, particularly in the lightweight segment.

According to Business Today, the company is also exploring sales through Swiggy Instamart to enhance accessibility.

9K Gold Jewellery Hits the Market

Ajoy Chawla, CEO of Titan's Jewellery Division, said that offering jewellery at lighter price points has become necessary. He noted a “very encouraging” initial customer response to the newly launched category.

What Is 9K Gold?

9K gold refers to gold that contains 37.5% pure gold, with the remaining 62.5% made up of other metals. This makes it more affordable than higher karatage options like 14K, 18K, or 22K gold.

Previously, hallmarking in India was available only for 14K, 18K, 20K, 22K, 23K, and 24K gold. The Bureau of Indian Standards (BIS) recently approved 9K gold for hallmarking, opening doors for jewellers to offer certified lightweight options.

Why Now? Rising Prices and Changing Consumer Preferences

Gold prices have climbed over 25% in the past year, influenced by global uncertainty, including the Russia-Ukraine conflict. As of now, 24K gold is priced around ₹97,828 per 10 grams, while 9K gold is priced at approximately ₹37,000 per 10 grams. With the 3% GST included, the retail price of 9K gold comes to about ₹38,110 per 10 grams.

This cost gap is significant, making 9K gold an attractive choice for buyers on tighter budgets. In fact, gold sales by volume in India saw a 60% drop in June, the sharpest decline since the COVID-19 pandemic, indicating that affordability has become a key concern for many.

Market Strategy: Festivals, Weddings, and Wider Reach

The launch of 9K gold comes just ahead of India’s festive and wedding season a crucial time for gold purchases. Demand typically peaks between Raksha Bandhan in August and the wedding months of November and December.

With annual gold consumption in India ranging between 800–850 tonnes and nearly 60% of that coming from rural areas affordability plays a major role in driving demand. Introducing 9K gold is seen as a way to reach new customers, especially those who are more price-sensitive.

Read More: High Gold Prices? Government Approves Hallmarking for 9 Karat Gold for Budget Buyers.

Conclusion

The introduction of 9K gold jewellery reflects a strategic response by jewellers to evolving market conditions, particularly rising gold prices and shifting consumer preferences.

While it offers a more affordable alternative, especially for lightweight designs, buyers should consider purity, hallmarking, and long-term value when choosing between different gold karatages. As the festive and wedding season approaches, how the market responds to this lower-karat option remains to be seen.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.