As gold prices soar, LGDs shine brighter during the wedding season in India …

The high gold price is now pushing Indian consumers to explore affordable alternatives, such as lab-grown diamonds (LGDs). Although the wedding purchase season in India is still underway, the true impact on lab-grown diamond (LGD) sales will become clearer once it ends.

However, early indicators suggest a strong increase in purchase intent across key buyer segments, such as brides and grooms, wedding attendees, and those planning to gift jewellery. Rising gold prices are a major factor driving LGD growth this wedding season. 

Gold prices have surged by 30-35% year-on-year, making traditional gold jewellery less accessible for many buyers. Rising gold prices are a major factor driving LGD growth this wedding season. More parents and families are choosing LGDs for bridal sets, engagement jewellery, and wedding gifting. Also important to note that GenZ and younger millennial consumers are first-time diamond buyers, with no legacy attachment to natural diamonds.