High Price of Gold Has More Consumers Considering Diamonds…

Indian jewelry manufacturers are experiencing double-digit increases in their diamond jewelry sales, while gold sales remain flat.  The ever-increasing price of gold is leading a group of consumers to open their wallets a little more and spring for diamonds, in the way that a family sedan purchaser loading up on options may simply bump up to a luxury model.  One sales and marketing executive said that they were going after diamond sales at both ends of the market.  “We will be doing a high-value diamond campaign [and] offering designs at lower price points [to] … woo younger people with lower caratage jewellery.”  The Times of India Jun. 24, 2010