Investors turning to pearls as gold price rises
Investors turning to pearls as gold price rises.
Jewelleries across Qatar have stacked up diamond and pearl ornaments as many customers look for ‘alternative’ to gold whose prices have mostly shown an ‘upward trend’ in the recent months.
Diamond and pearl jewellery are ‘gaining acceptance’ in the local market with international certification and exchange offers becoming ‘incentives’ for discerning buyers.
Inquiries, however, reveal the greatest demand is still for gold ornaments despite their escalating prices. This is because gold has an important place for use in jewellery, in import and export trade and as an investment commodity.
Many jewelleries in the country have displayed diamond and precious stones cast mainly on 22-carat gold. Diamond and precious stones are studded on 22-carat gold for durability.
“A majority of customers buy gold ornaments, but many now accept diamond and pearl jewellery mainly because of the spurt in gold prices,” said A.J.Joju, regional manager (Qatar) of Joyalukkas Jewellery.
“This is an emerging trend. Diamond customers are now assured of quality certification from the International Gemological Institute,” Joju said.
IGI-certified diamond-studded jewellery is finding many buyers these days, according to traders. It is also accepted by jewellers on ‘exchange offer’, but subject to specific terms and conditions, an industry source said. More about Buyers turning to pearls as gold price rises.