Gold is trading at noticeably higher levels compared with the festive period a year ago. Retailers dealing in diamond jewellery are forecasting a 15–20% uptick in sales over the coming festive period, a trend they attribute to consumers exploring alternatives as gold prices have climbed.

Trade insiders noted that demand for studded jewellery had picked up noticeably at the start of the Navratri period, with buyers gravitating toward pieces that balance aesthetic appeal against affordability. Buying habits around diamonds appear to be reshaping themselves, with shoppers now reaching for stones tied to daily wear and individual milestones rather than confining purchases to weddings or other ceremonial moments.

Rising gold prices have nudged buyers toward diamond-set pieces, with ornaments in the Rs 10,000-to-Rs 1 lakh range drawing noticeably broader interest. Lower-carat options — 18ct, 14ct, and 9ct — are finding their way into these designs as craftspeople look to bring the pieces within the financial reach of a broader customer base. Those in the market for finely crafted pieces are said to retain full aesthetic detail without giving anything up.

Falling prices on smaller stones have drawn buyers toward diamond-studded pieces as a way to sidestep the steeper expense tied to gold-based ornaments. Petite diamond valuations have slid roughly 25% from where they stood during the 2025 festive season, while gold has climbed 54% across that same window — a divergence that Joy Alukkas, who chairs the Joyalukkas jewellery retail chain, described as nudging shoppers toward diamond pieces, with the use of lower-caratage gold helping to keep those items accessible for budget-aware buyers. He anticipated a 20% uptick in diamond jewellery sales at the chain over the current festive period.

Rivalry among jewellers is building as regional chains broaden their store networks and pursue stock market listings, while appetite for diamond pieces suited to daily wear continues to grow. Senco Gold & Diamonds is projecting a 20% uptick in that product category over the coming festive period, with managing director Suvankar Sen noting that jewellery pieces — earrings, rings, pendants, and bracelets — priced between Rs 30,000 and Rs 1 lakh are moving off shelves at a notably brisk pace.

Shifting consumer preferences toward lighter pieces have accompanied the rise in gold prices, with Ishu Datwani, who founded Mumbai-based Anmol Jewellers, noting in a broadcast interview that diamond jewellery has become accessible at price points starting around Rs 25,000 and that buyers tend to perceive its visual impact as proportionally greater than its cost. Demand among buyers has been shifting toward gold pieces with a lighter, more delicate build.

Kama Jewelry's managing director Colin Shah noted that the Rs 10,000–Rs 1 lakh range now offers buyers relatively little choice in gold pieces, a gap that has pushed many toward diamond jewellery instead — a pattern reflected in purchasing behaviour where customers who once selected 100-gram necklaces are now opting for 60-gram alternatives.

Appetite for diamond jewellery that moves comfortably between everyday wear and celebratory occasions is on the rise, with Supriya Kataria, who founded Kumari Fine Jewellery, noting that elevated gold prices are drawing shoppers toward diamond pieces this festive period. Buyers, she observed, are prioritising distinctive design and the ability to style a single piece across multiple settings, a shift she anticipates will translate into a 15–20% uptick in diamond jewellery purchases over the season.