Rising MMTC Pamp demand

In our tradition, gold has always meant more than just jewellery. It is an emotion. It’s security. It’s pride. And as someone running a gold business here, I’ve seen firsthand how deeply people value it. Not just for its beauty, but for what it represents. Lately, something is shifting.

The rise of MMTC pamp and the fall of pound gold

For years, Pound gold coins or jewellery made from UK-sourced or gulf-imported gold was considered the gold standard in Kashmir. Ask any elder and they’ll tell you, pound gold means purity. It was trusted, even revered.

But in the last year, I’ve noticed more and more people asking for something else: MMTC Pamp.

Backed by the government and known for its certified purity and fixed pricing, MMTC Pamp gold coins and bars are now taking over. Customers, especially younger ones come in informed. They’ve checked prices online. They’ve done their research. What they want now is paperwork, proof, and peace of mind. MMTC gives them that.

Another reason? Resale value. Customers know MMTC is easier to exchange or sell, thanks to its clear documentation and standardised quality. With pound gold, there’s still doubt around exact purity and that doubt is costing it trust.

When gold crosses ₹1 lakh, who’s left behind?

But there’s another side to the story. One that’s harder to talk about. Gold prices are soaring. Over ₹1,00,000 per 10 grams. And that rise is quietly breaking hearts especially among the poor and middle class.

In Kashmir, gold isn’t just luxury. It’s tradition. It’s part of every wedding, every dowry, every milestone. But now? Even a small chain or ring is out of reach for many families. I’ve seen it happen when people walk into our shop with hopeful eyes, only to leave empty-handed and disappointed.

Some have started buying silver instead. Others go for gold-plated alternatives. And then there are families who’ve taken to buying just 1 gram a month, trying to slowly build a future gift for a daughter’s wedding.

One customer recently told me, “Gold has become a rich man’s metal.” And honestly, they’re not wrong.

What do we need to understand?

This shift isn’t just about MMTC or pounds. It’s a bigger signal the gold market is changing. Trust and transparency matter more now than tradition alone.

As jewellers, we need to adapt. Offer what people are looking for. Educate them. Make MMTC and other verified options accessible. And above all, introduce flexible plans, monthly savings schemes, micro-purchases, anything that helps the average family hold on to tradition without going broke.

But there’s only so much we can do at the shop level. There also needs to be a conversation at the national level. Either about price control or at least support for low-income families who want to buy gold not for luxury, but to honour culture.

Because while gold still shines, it’s starting to feel like it only shines for some.

Author is a jeweller by profession and a hobbyist writer by passion.