Gold prices surge 54%; jewellers use 9K, 14K, 18K gold for diamond pieces
Rising gold prices have led Indian consumers to shift toward diamond-studded jewelry, with retailers expecting a 20% sales increase this festive season. Jewelers are adapting by using lower-carat gold to keep prices accessible for middle-class buyers.
Why it matters
This reflects shifting consumer economic behavior and market adaptation in response to significant commodity price inflation.
Gold prices have risen sharply from levels seen in last year’s festive season. The sharp hike in gold prices is prompting jewellery buyers to consider diamonds as an alternative, with retailers projecting a 15-20% increase in diamond jewellery sales this festive season.Retailers said the Navratri season has begun on a strong footing for studded jewellery, as shoppers look for pieces that offer value while staying within their budgets. The trend points to a broader change in consumer preferences, with diamond purchases increasingly driven by personal choices and everyday use instead of being limited to weddings and other special occasions.Gold prices rise, diamonds are back in focusAs gold jewellery becomes more expensive, shoppers are increasingly exploring diamond-studded ornaments priced between Rs 10,000 and Rs 1 lakh.Also Read | Gold at Rs 1.5 lakh per 10 grams is pushing middle-class Indian buyers to silver who are getting 650 grams of silver at…
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