Gold prices surge 54%; jewellers use 9K, 14K, 18K gold for diamond pieces
As gold prices soar, many consumers are turning to diamond jewellery as a cost-effective choice. Retailers anticipate a sales growth of 15-20% in diamond jewellery this festive season. Lightweight diamond designs are becoming increasingly favored, appealing to everyday shoppers. In response, jewellers are introducing more affordable diamond-studded pieces.
Gold prices surged by 54% compared to last year's festive season, prompting jewellers to offer diamond-studded ornaments as an affordable alternative. Retailers anticipate a 15-20% rise in diamond jewellery sales during the current festive season due to consumers seeking value within their budgets.
Navratri season has started with a strong footing for studded jewellery, as shoppers opt for pieces that provide value while remaining budget-friendly. This trend indicates a shift in consumer preferences, with diamonds becoming increasingly popular for personal use rather than being limited to weddings and special occasions.
Jewellers are using 18-carat, 14-carat, and 9-carat gold for diamond-studded pieces to make them more accessible to a broader range of buyers. Smaller diamonds have become more affordable, with prices around 25% lower than during the 2024 festive season, while gold prices have risen 54%.
Diamond jewellery sales at Joyalukkas, a pan-India jewellery retail chain, are witnessing growth, driven by the availability of lower caratage gold options. Leading jewellers like Senco Gold & Diamonds and Anmol Jewellers are also reporting a 20% increase in diamond jewellery sales during the festive season.
Consumers are increasingly favoring lightweight, versatile diamond jewellery pieces that can be worn regularly, rather than traditional, heavier gold ornaments reserved for special occasions. This shift is particularly noticeable in the Rs 10,000-Rs 1 lakh price range, where diamond jewellery has become more popular due to the limited availability of good-quality gold jewellery within this price bracket.
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