Demand for diamond jewelry among Indian consumers in the country’s smaller cities is moving from 18 karat gold settings to 14 karat gold, the Times of India reports cited by Israelidiamond.co.il.
A combination of the global economic crunch and the ever-rising price of gold has prompted jewelry buyers in these cities to opt for diamonds set in gold of lower purity.
The TOI interviewed diamond dealer Ankit Barmecha, who explained that the price differential between 18 karat gold settings and 14 karat gold settings could be as much as 460 rupees per gram. Until they were informed by the jewelry seller that the pieces they were considering were made from 14 karat gold, Barmecha said, most customers couldn’t distinguish between the two gold grades.
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