Diamond, silver glitter as soaring prices drive many buyers away from gold this yr
Times of India | 20 October 2025
Kolkata: Diamond and silver turned out to be the new gold for the Dhanteras buyers in Kolkata after sales turned away from gold this year. While gold continued to remain a favourite for the marriage season, buyers preferred diamond and silver more for their daily use.
On Sunday, the second day of Dhanteras, stores of Bengal Jewellery did not have a single piece of silver product left. "We did not expect such a response for silver. A large chunk of buyers with a budget of Rs 25,000-30,000 decided to go for silver jewellery this time, instead of buying a tiny piece made of gold. The most favourite was, however, diamond," said Shubadip Roy of Bengal Jewellery.
While more than half of the sales of the city jewellers were from diamond and diamond-studded jewellery, silver was almost half of the precious metal sales at the jewellery shops.
"Gold sales, in terms of volume, were lower by around 20% while diamond turned out to be a favourite of the buyers. We set a target of volume loss of gold by 15%, but it went down further. In terms of value, more than 20% growth was seen this Dhanteras," said Rupak Saha, zonal member of the Gem and Jewellery Trade Council of India.
Sawansukha Jewellers, which specialises in designer jewellery, found growth in gold and diamond.
"Gold is reaching its peak and customers are assessing both investment needs and fashion requirements when they buy. Buyers are very specific and clear about what they want," said Siddharthaa Sawansukha.
Mainak Dhar of Modern Guinea House said sales of 22-carat gold coins were high. "If buyers are buying heavy jewellery, we can assume that they are buying for marriage season. We had a healthy mix of investors and heavy jewellery buyers. We had buyers till midnight and we opened shops again at 12.30 pm today," he said.