New Delhi, Oct. 17 -- Madhumita Shukla, an employee at an IT firm, was excited to redeem the units in her gold savings plan, bought at a jewellery store, for which she had been saving for a year.

"Last Diwali I couldn't buy the Rs.81,700 pendant set I wanted as the price of gold had risen significantly. So I chose the advance gold purchase plan. Even though I saved for the whole year, the money is still insufficient to buy the set as it now costs more than the Rs.1.17 lakh I was able to save.

Madhumita isn't alone in this. Many others who invested in gold savings plans offered by jewellers have been left wanting as gold prices have surged 58% in 2025 and 67% since last Dhanteras. Despite this, the lure of savings plans with embedded dis...