Demand for gold jewelery
Wedding season is going on in the country. If you also look at some social media on your phone, then pictures of someone’s wedding definitely come up. This is a common thing during the wedding season. Well, one more thing that is quite common in weddings is jewellery. People wear jewelery of their choice, especially women wear it more. In such a situation, when the wedding season comes, their demand is bound to increase. But, do you know which type of jewelery is in high demand and what is the reason behind it? Let us tell you. This time in the wedding season, people are preferring light jewellery. Jewelery made of 14 carat gold is in great demand in the market.
After gold prices have increased by more than 60% since January this year, jewelers like Joy Alukkas, PNG, Senco Gold and Kalyan say that light jewelery without much design is being bought rapidly. Many people are buying low carat jewelery because it is cheaper and the making charges for plain jewelery are also less. Interestingly, on the other hand, the prices of diamonds have not increased much, due to which price conscious buyers are buying less diamond jewellery. Because on reselling they can get back only up to 8090% of the money. Many young couples and their families are giving more importance to the investment and resale value of heavily designed or diamond-studded jewelery rather than its beauty.
Demand for light jewelery
In the ET report, Surendra Mehta, National Secretary of India Bullion and Jewelers Association, says that the resale price of gold is getting higher because its price is continuously increasing. He told that 18 carat gold is Rs 94,000 per 10 grams and 14 carat gold is Rs 73,000. Even after 3% GST and reduction in making charges, the selling price of gold remains high because its rate is increasing and there is no hope of it going down now. Managing Director of Senco Gold, Suvankar Sen said that customers are buying light gold jewelery because the prices of gold have increased.
Weddings are like gold
The Confederation of All India Traders has estimated about 48 lakh marriages this season, which is good news for the gold trade. Baby George, CEO of Joy Alukkas, said that customers who are able to spend are also spending money wisely on heavy gold jewellery. He said that the demand for diamond jewelery was good during the festive season i.e. from Navratri to Diwali. But the purchase of gold jewelery is more during the wedding season. Due to rising prices, couples are choosing gold jewelery instead of heavy diamond jewelery as its resale value is higher.