"The jewellery community is one in supporting the country in times of crisis. We are happy to help with this voluntary action," Haresh Soni, chairman of the federation, said in the statement.
The trade body had appealed to jewellers to stop sales of coins and bars in late June.
India's current account deficit swelled to a record 4.8% of gross domestic product in the fiscal year ending March 31, 2013, and gold is the second-largest item in the iport bill.
The government has hiked import duty to 8 percent and the central bank has tightened availability of supplies in an effort to rein in imports, which hit a record 162 tonnes in May.