National News
Gold price surge, bridal jewellery demand drives diamond jewellery segment
With gold prices reaching the ₹1 lakh mark, diamond-studded jewellery, especially one-carat solitaires (priced at ₹2.5-₹3.5 lakh per carat), has become the preferred choice for wedding shoppers, resulting in a 20% year-on-year increase in demand.
Jewellery retailers, including Tanishq and Kalyan Jewellers, are actively promoting diamond jewellery due to higher margins and incentives. Sales teams are being incentivized to convert gold buyers to diamond buyers, especially when gold prices are high.
Diamond jewellery among Indian customers is currently in single digits, or at best, 10-11%. The total size of the Indian jewellery industry is about ₹5.5-₹6.4 lakh crore while the diamond industry is at ₹70,000-₹75,000 crore. And, therefore, certainly we want higher growth. How much higher growth, we have not put a number to it. We have our goals. And there is an expectation that the diamond-studded jewellery market will grow at a faster rate,” said Tanishq’s CEO Ajoy Chawla
Prices for polished natural diamonds have remained stable in May, with a slight upward trend for high-quality solitaires. Lower-quality diamonds and smaller goods are experiencing flat or pressured prices, highlighting the premium placed on quality.
“The purchasing power of Indians have increased, and they are now looking at diamonds for wedding purposes. India is witnessing a double-digit growth in diamond demand,” said Amit Pratihari, managing director at De Beers India.
This month, overall prices of polished natural diamonds have remained stable, with a slight upward movement. “There’s no sharp spike like we saw in April, but there’s a tendency for prices to rise gradually. Consumers are showing continued interest in solitaires, and that’s reflected in steady movement at the higher end. On the other hand, smaller goods and lower-quality diamonds are not performing as well. In fact, prices in those categories are quite flat or under pressure. So, it’s clear-good quality diamonds, especially solitaires, are the ones holding value and showing upward momentum,” said Jignesh Mehta, managing director at Mumbai-based Divine Solitaires.
The Indian diamond jewellery market is poised for accelerated growth, fueled by rising gold prices, changing consumer preferences, and aggressive retail strategies. With only a small fraction of Indian consumers currently purchasing diamond jewellery, the segment offers substantial room for expansion. Industry leaders expect the trend towards solitaires and high-quality diamonds to continue, especially during key buying seasons like weddings.
National News
Gold Rebounds in India After Five-Day Slide; Dollar Strength Keeps Pressure Intact
Despite the rebound in retail prices, futures trading remained largely muted.
Gold prices in India posted their first significant rebound in six sessions on Saturday, recovering after a sharp five-day decline that had rattled the domestic bullion market.
The price of 24-karat gold rose by Rs. 2,510 per 10 grams to Rs.163,640 on March 7, according to market data. The recovery comes after bullion prices fell steeply earlier in the week, with gold dropping nearly Rs.11,000 per 10 grams—or about Rs.110,000 per 100 grams—between March 2 and March 6.
Despite the rebound in retail prices, futures trading remained largely muted. On the Multi Commodity Exchange of India, gold futures closed Friday’s evening session almost unchanged at around Rs. 161,675 per 10 grams.
Global cues continue to shape the domestic trend. Spot gold climbed above $5,120 an ounce, lending support to local prices after several sessions of losses.
However, bullion markets remain under pressure from macroeconomic factors. A stronger U.S. dollar and rising U.S. Treasury yields—fueled in part by a rally in crude oil prices and renewed inflation concerns—have dampened investor appetite for precious metals in recent days.
Silver prices have also faced similar headwinds, reflecting broader movements in global commodity and currency markets.
Analysts say the near-term outlook for bullion will largely depend on the trajectory of the dollar and bond yields, which continue to dictate flows into safe-haven assets such as gold.
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