In this wedding season many couples go for a diamond jewellery than gold as a lucrative investment option.
“While diamond prices have gone up at the rate of 20-25 per cent year-on-year, its sales have gone up by about 25 per cent compared to gold in volume terms,”
Wedding season, which generally accounts for maximum sale of jewellery and has witnessed a steady rise in demand of diamond accessories? Though sentiment for gold is still high, young and affluent consumers are now opting for diamonds set in gold both as a fashion statement and future investment.
Confirming the trend, says Anantha Padmanabhan, MD of NAC Jewellers, “There has been a 10-15 per cent increase in diamond sales this season as added income has helped many to migrate it to higher levels”. People are able to digest the price increases in precious metals as their salaries too have gone up, he feels.
Increased thrust on sale of certified diamonds by industry bodies such as GJEPC has lent credence to diamond sales. The ensuing AkshayaTritiya on May 6, an auspicious occasion to buy jewellery, is also expected to boost sales of gold, diamond and platinum considerably.
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