The jewellery business is experiencing a kind of revolution and the domination of gold jewellery is being challenged by a sharp increase in diamond jewellery. The prices of diamonds have doubled over a year, yet the demand for diamond jewellery has been steadily growing. Diamond merchants are more confident than ever and increasing their operations steadily. The reason is simple. Diamond prices aren’t as volatile as gold and hence give more stability to the merchants.
Diamond jewellery is also being seen as a break from the regular and traditional gold jewellery. More and more youth are turning towards diamond jewellery for weddings and other special occasions. Diamond rings have especially taken over gold as engagement rings. More and more couples are looking to a diamond ring as their symbol of bonding. Even the smaller towns are getting bolder and we see many big brands entering the smaller towns. While it’s the designer and branded gold jewellery that sells there more, even diamonds are catching up soon.
Diamonds always had high astrological significance. Our Indian mythology states that diamond is believed to have healing abilities as well. They are so hard that they were used as engraving tools from time immemorial. Diamonds in ancient time were called Vajra, which transliterates to Thunderbolt in Sanskrit.
Diamonds have always been linked to royalty but gained commercial importance in the 19th century when the supply increased. Also with the introduction of technologies like improved cutting and polishing along with innovative and successful advertising campaigns. Today India is home to the world’s largest diamond cutting and polishing center. On a pro rata basis 11 out of every 12 processed diamonds in the jewelry around the world comes from India.
With successful advertising and easy availability, today, diamonds are the most loved and bought gems in the world