Deferred jewelry purchase schemes losing sheen as gold prices soar
Gold is getting pricier than ever in India, and that's making people rethink how they buy it.
With gold prices hitting ₹1.22 lakh per 10gm, deposits for deferred jewelry purchase schemes have dropped—Tanishq saw a 19% fall to ₹3,458 crore and Reliance Retail's deposits slipped by 5% to ₹333 crore for FY25.
Experts say this trend could stick around into FY26.
Digital gold gaining traction
With prices jumping 23% last year and rising 56% since January 2024, many are skipping fixed installment plans and turning to digital gold instead for its flexibility.
Reliance had over 168,000 depositors in its deferred purchase scheme as of mid-July, and nearly 40% of Senco's business now comes from deferred purchase schemes—showing that while traditional buying is slowing down, digital options are keeping buyers interested.