<p>Mumbai: Soaring gold prices have led many Indian families to opt for lightweight and lower-carat jewellery to stay within their budgets, industry officials said.</p><p>"I wanted to gift my daughter 80 grams of gold, but I was forced to scale it down to 50 grams because of price increase in the past two years," said Mumbai-based Shubhangi More, choosing a necklace with a traditional design for her daughter's wedding.</p>.Gold reclaims Rs 80,000-mark; silver rally extends for third day.<p>Gold prices in the world's second biggest buyer of the precious metal have surged 22 per cent so far this year, after rising 15 per cent in 2023.</p><p>Most Indian buyers prefer traditional jewellery, but now they want it crafted in lightweight designs to fit their budgets, said Bachhraj Bamalwa, partner at jewellery retailer Nemichand Bamalwa & Sons.</p><p>"Recognising this preference, we are stocking more lightweight jewellery sets while scaling down our inventory of heavier designs," Bamalwa said.</p><p>Advances in manufacturing technology have enabled jewellery makers to craft traditional designs in lighter weights, said Sachin Jain, CEO of the World Gold Council's Indian operations.</p><p>Buyers are also switching to lower carat jewellery to reduce costs, jewellers said.</p><p>Guddi Devi, a teacher from Jamalpur in the northern state of Bihar, bought 18-carat jewellery for her daughter's wedding instead of 22-carat.</p><p>"I preferred the 18 carats of jewellery because it was cheaper compared to the 22 carats and is much stronger than it," she said.</p><p>Indians traditionally prefer jewellery made in 22-carat gold, which contains 91.7 per cent pure gold, while 18-carat gold contains 75 per cent pure gold and 25 per cent other metals. The price of 18-carat gold is nearly a fifth lower than that of 22-carat gold.</p><p>"Lower prices and greater durability are making 18-carat jewellery increasingly popular. Its share in total sales has risen to over 15 per cent, compared to just 5 per cent to 7 per cent two years ago," said Surendra Mehta, secretary at the India Bullion and Jewellers Association. </p>
<p>Mumbai: Soaring gold prices have led many Indian families to opt for lightweight and lower-carat jewellery to stay within their budgets, industry officials said.</p><p>"I wanted to gift my daughter 80 grams of gold, but I was forced to scale it down to 50 grams because of price increase in the past two years," said Mumbai-based Shubhangi More, choosing a necklace with a traditional design for her daughter's wedding.</p>.Gold reclaims Rs 80,000-mark; silver rally extends for third day.<p>Gold prices in the world's second biggest buyer of the precious metal have surged 22 per cent so far this year, after rising 15 per cent in 2023.</p><p>Most Indian buyers prefer traditional jewellery, but now they want it crafted in lightweight designs to fit their budgets, said Bachhraj Bamalwa, partner at jewellery retailer Nemichand Bamalwa & Sons.</p><p>"Recognising this preference, we are stocking more lightweight jewellery sets while scaling down our inventory of heavier designs," Bamalwa said.</p><p>Advances in manufacturing technology have enabled jewellery makers to craft traditional designs in lighter weights, said Sachin Jain, CEO of the World Gold Council's Indian operations.</p><p>Buyers are also switching to lower carat jewellery to reduce costs, jewellers said.</p><p>Guddi Devi, a teacher from Jamalpur in the northern state of Bihar, bought 18-carat jewellery for her daughter's wedding instead of 22-carat.</p><p>"I preferred the 18 carats of jewellery because it was cheaper compared to the 22 carats and is much stronger than it," she said.</p><p>Indians traditionally prefer jewellery made in 22-carat gold, which contains 91.7 per cent pure gold, while 18-carat gold contains 75 per cent pure gold and 25 per cent other metals. The price of 18-carat gold is nearly a fifth lower than that of 22-carat gold.</p><p>"Lower prices and greater durability are making 18-carat jewellery increasingly popular. Its share in total sales has risen to over 15 per cent, compared to just 5 per cent to 7 per cent two years ago," said Surendra Mehta, secretary at the India Bullion and Jewellers Association. </p>