India’s jewellery industry will meet Prime Minister Narendra Modi’s Office officials after his appeal urging citizens not to rush into gold purchases amid global uncertainty and high prices.
Industry bodies said the message has raised concerns about weaker demand, especially during the wedding season. Shares of listed jewellery companies also saw pressure after the appeal.
Jewellers told officials that gold remains a key household asset and warned that panic sentiment could hurt sales. However, they also admitted that high prices are already slowing demand.
The government said the aim is to prevent panic buying and ensure economic stability, not to discourage gold purchases.
