Rising gold prices in India force change in jewellery buying habit

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The most recent survey conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) has revealed that changing fashion trends and rising gold prices have forced a notable change in jewellery buying habits among Indian customers. To tap the changing trend, nearly 76% of jewellers are seen focusing on platinum and diamond jewelry ahead of the festive season.
The ASSOCHAM survey covered almost 350 jewellery makers based in Delhi-NCR, Mumbai, Ahemdabad, Chennai, Kolkata, Hyderabad, Chennai, Bangalore, Chandigarh and Dehradun. According to the survey, white gold, platinum and diamond are the new trends among the youth.
The share of platinum and diamond in the overall gold jewellery has risen significantly over the past one year. There is an increasing demand for diamond studded platinum jewellery than ever before. This has forced many jewellers to focus more on platinum and diamond ahead of Dhanetras and Diwali festivals.
The survey further revealed that there has been a tremendous jump in diamond jewellery sales so far this year. On year-on-year comparison, the demand for diamond jewellery has grown by over 25% during the first nine months of the current year. The demand for high-end diamond jewellery has also been strong throughout the year. At current prices, platinum offers great investment opportunities to smart investors, the survey concluded.
Source:Bullion Bulletin

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