In today’s India Edition, Preeti Soni looks at how record gold prices are daunting jewelry buyers, and Rakesh Sharma shines a light on the government’s oil dilemma. https://t.co/qR5966cD04 ...

Market Trends & Commodity Prices - Average ticket price increased by 15%, driven by a 50% rise in underlying commodity costs over the last year [1] - Silver and platinum prices have increased by 70% in the last year [1] - Natural diamond prices are down roughly 45% from their peak in March 2022 [7] - Gold has appreciated by 11% per annum over the last ten years [3] Lab-Grown Diamonds - Lab-grown diamonds are driving down the price of natural diamonds [2][6] - Approximately 60% of engagement rings sold in the U S this quarter will have a lab-grown center, compared to 2% in 2018 [8] - Industry anticipates 80% adoption of lab-grown diamonds in the next ten years [9] - On the diamond side, 60% plus is lab-grown, 40% is natural [10] Consumer Behavior & Sales - Jewelry industry is up over 10% this year, outperforming other luxury categories [13] - Current sales are up over 30% [12] - 75% of colored gemstone sales are natural, while 25% are lab-grown [10] - Customers prefer perfect diamonds but unique imperfections in colored gemstones [11] Gold Market Dynamics - Central banks are buying roughly 25% of the gold that's out there [5] - Financial investors are a significant part of the gold market [5] - Political and economic uncertainty are driving demand for gold [3]

Diamond Market Segmentation - The market distinguishes between natural and lab-grown diamonds, with demand for both [1] - Natural diamonds are favored above $5,000, appealing to customers seeking asset value [2] - Lab-grown diamonds dominate below $2,000, focusing on emotional value, particularly in engagement rings [2] Lab-Grown Diamonds Strategy - Lab-grown diamonds are crucial for extending the fashion jewelry category [3] - Lab-grown diamonds make diamond fashion jewelry more affordable and accessible for everyday wear [3] Growth Strategy - Fashion jewelry is critical to the company's growth strategy [3]

Industry Overview - Lab-grown diamonds can be produced in 7 days, a stark contrast to the billion years required for natural diamonds [1] - The US sees around 50% of engagement rings now featuring synthetic stones [1] Market Dynamics - China, specifically Hernand province, is estimated to be the origin of 70% of lab-grown diamonds for jewelry [2] - The influx of synthetic stones is dragging down the prices of both lab-grown and small natural diamonds [2] Competitive Landscape - The natural diamond industry is attempting to differentiate itself by labeling synthetic stones as "fakes" and "dupes," but consumer adoption continues [3] - The future of the natural diamond industry is uncertain due to the market saturation of synthetic stones [3]