Amid record high gold prices, Tanishq has seen a sharp rise in consumers trading old gold for new purchases. The jewellery major reported a 69 per cent surge in gold exchange sales during the second quarter, with the trend now emerging as a long-term consumer behaviour shift rather than a festive spike, said Arun Narayan, Senior Vice-President, Tanishq.
Gold prices have grown nearly 43 per cent this year from ₹77,913 per 10 grams in January to ₹1,11,350 at present, as per data accessed through bank bazaar.
“Buying gold through an exchange is the best possible way; most households have unused gold lying in lockers or bullion form. Recycling what we already have is good for consumers, the economy, and even the planet,” he said.
The campaign, coupled with rate-led offers and an early onset of the festival season, helped lift overall jewellery sales despite the sharp rise in gold prices and a high base from last year. Titan’s jewellery business grew 17.9 per cent year-on-year to ₹12,460 crore in the second quarter of FY26, contributing the bulk of the company’s consolidated total income of ₹16,407 crore.
Number of buyers
Within the company’s mix, gold jewellery sales rose 13 per cent, coins surged 65 per cent on investment-led demand and studded jewellery grew 16 per cent. Narayan said while volume growth across the industry remained subdued, Titan recorded a marginal increase in the number of buyers. “We’ve seen buyer growth, not a decline, which underscores the resilience of jewellery as a category even amid price volatility,” he said.
Published on November 5, 2025
