New Delhi, April 29 -- The continued rise in retail gold prices to an all-time high is expected to reduce the sales volume of organised gold jewellery retailers by 9-11 per cent in fiscal 2026, according to a Crisil Ratings report.

However, with prices and realisations expected to be significantly higher on year, revenues will still grow 13-15 per cent, the report added.

This comes on the back of four straight years of more than 20 per cent revenue growth, which has seen the industry grow 2.5 times since fiscal 2021.

Volume, however, has remained subdued with consumers purchasing smaller quantities amid budget constraints due to higher prices.

An interplay of multiple factors is visible amid the continually rising gold prices. For one...