'Gold price volatility hasn't deterred buyers'

Despite the recent fluctuations in gold prices, Indian consumers are actively engaging in the market, viewing price dips as opportunities for investment. Ajoy Chawla, Managing Director of Titan Company, observed that many potential buyers who previously hesitated due to rising costs are now adopting a more proactive approach, similar to equity investors. As the festive season approaches, these 'fence sitters' are making purchases, driven by a sense of urgency not to miss out on favorable buying conditions. Chawla noted that cultural factors, particularly the significance of gold in weddings and festivals, continue to fuel demand. He highlighted the trend of women in households advocating for gold purchases as a secure investment, thereby influencing buying decisions. The gold market has experienced significant volatility this year, with prices fluctuating between Rs 1.61 lakh per 10 grams. While Chawla acknowledged the unpredictable nature of gold prices due to global economic factors, he emphasized the importance of capitalizing on strong demand periods. Titan's jewellery division, particularly its Tanishq brand, is benefiting from this shift in consumer behavior, enhanced by product innovation and seasonal demand.