Diamond Outshines Lustre Of Gold

Published on 22/09/09

Jewellers in the region are expecting their sales to rise after facing rough weather due to the slowdown.

The jewellers said the festival and the wedding seasons were likely to increase their business as they were expecting more footfalls in the coming days.

However, this year, they said that shine of the yellow metal may pale out in the sheen of diamond jewellery that was showing exceptional growth.

The sales of the jewellery traders reflect the growing tendency to buy diamonds over gold. Balram Garg, MD, P C Jewellers, said that over the last few years, the volume of sales of diamond had doubled in comparison to gold.

Reasons for growth in diamond jewellery in comparison to gold are many, according to Garg. With prices of gold skyrocketing in the past, people have shifted their preference to diamond. In the last few years, the prices of gold have moved up by 30-40 per cent but prices of diamond are more stable and this stability is attracting the attention of people.

Garg said share of diamond jewellery had moved up from 20-40 per cent and in the coming years he was expecting that gold and diamond would be on the same platform.

Meanwhile, commenting on the festival season, Garg added that P C Jewellers was definitely bullish over the upcoming festival season.