Gold sales dropped during Dhanteras 2024, while sales of silver and diamonds saw an increase, according to a report from Business Standard.
Surendra Mehta, National Secretary of the Indian Bullion and Jewellers Association (IBJA), noted that “silver sales rose by 33% today, while gold volume fell by 15%.” This shift in consumer preference is largely attributed to high gold prices, which have increased by 30% since last Diwali, making silver a more appealing investment option.
On Tuesday, the price of 10 grams of gold was ₹78,430, reflecting a 0.6% rise from the previous close.
In the investment sector, interest in Digi Gold, a platform for buying digital gold and silver, has surged. The platform allows customers to set up systematic investment plans (SIPs) for both gold and silver. Chirag Thallar, director at Amrapali Gujarat, mentioned, “We saw good interest in digital silver on our platform—the only one offering digital silver.” He added that digital silver sales increased by 40% in value compared to the previous year.
Meanwhile, leading jewelry brands like Titan’s Tanishq and Zoya, as well as Kalyan Jewellers, have attracted buyers with new designs. Titan alone introduced over 2,000 new designs this season.
Younger consumers are also shifting their preferences toward diamonds, including lab-grown options, which are more affordable. In addition to lab-grown diamonds, natural 14 or 18-carat diamonds are gaining popularity among buyers.
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