Giving platinum and diamond gifts and increasing trend of investment, know who is at number one and why
The trend of giving and investing in the jewelry gifts of platinum and diamonds is increasing rapidly in the country, especially in the country. However, gold remains the most popular product, but platinum and diamonds are being preferred as investing and giving gifts due to their uniqueness and feeling of being ‘special’. Experts in the jewelery sector say that investment in these expensive metals is suitable only for experienced traders.
Why this trend is increasing
Simran Shah, vice -president (sales) of Cama Jewelery, said, “In India, among rich individuals, instead of gold, the priority of investing in platinum, diamonds and other precious metals is affected by many cultural, economic and social factors. Rare of these metals is a major attraction for the rich who are looking for ways to make their investment different. Platinum is rare than gold, which makes it feel uniqueness while diamonds are also seen as a symbol of its beauty and special. Apart from this, there has been a cultural change towards luxury and modern luxury options, especially among the youth, rich people. The younger generation is becoming more global and is conscious of international fashion trends, which has contributed to the popularity of platinum and diamonds. ”
Platinum is used in other industries including vehicles besides jewelery. According to market research and counseling company Grand View Research, the size of the platinum jewelery market in India is estimated to be around Rs 7,500 crore in 2024 and it is expected to cross its Rs 20,000 crore mark by 2030. According to the marketing organization Planeton Guild International, every year the demand for platinum jewelery in India is increasing by 15 to 20 percent. The demand for platinum jewelery has increased by 18 percent in the second half of 2024 after the customs cut in the Union Budget.
Why like diamonds
Amit Pratihari, managing director of Heera Company De Beers India, said, “Rich invests in diamonds as it makes a very special and priceless feeling.” The decision to invest in diamonds or gift it is very emotional. Diamonds give women a reason to increase their self -esteem and confidence. Diamond is the best way to maintain love and relationship situation. Diamonds have shown a steady increase in the price over time, making it a practical investment option. Their value is not directly related to traditional assets like equity share or gold. ”
With the increasing demand for diamond jewelery and investment, the diamond jewelery market in the country is expected to increase from $ 8.5 billion to $ 2031 in 2023 to $ 17 billion. It has been growing at a rate of about 15 percent annually for the past several years. Joy Alukkas, chairman of the jewelery seller company Zoya Alokkas Group, said, “In the last five years, we have seen a remarkable change towards platinum and diamond jewelery especially among rich buyers. However, gold remains the most popular, the specificity of platinum and strengthening of value in the uncertain position has increased its charm as investment and premium gift options. Talking about FY 2024-25, the demand for platinum jewelery has seen an increase as a symbol of luxury and modern. As far as the diamond is concerned, especially as a personal gift, remains a center of attraction for years. In addition to the priorities related to the years, this trend reflects the trend to protect the property. ‘
Why gold first choice
Shah said, “Gold remains an important asset, rich people in India are growing rapidly towards diversifying their investment for risk management. Investing in platinum or diamonds also provides a way to balance their portfolio …” When asked, should people invest in precious metals, said, “Alokkas said,” Platinum and Heids, “Platinums and Heids Release,” Platinum and Heids Released. And ideally they should be part of diverse investment portfolio. In terms of cash, it is easy to capitalize on them and maintain their internal value over time. ”
When asked about investment methods, Shah said, “Investors can invest in platinum rods and coins from recognized jewelery vendors or precious metal dealers in India and invest in platinum. Platinum coins and rods are available in various values and can be kept in locker like gold. However, platinum coins are not usually available like gold. Second method is an investment in Platinum ETF (Exchange Traded Fund) through a trading account. Apart from this, the National Commodity and Derivatives Exchange (NCDEX) offers platinum fawy contracts. However, it is more suitable for experienced traders. “