Diwali is round the corner and so is Dhanteras. On Dhanteras, individuals and business communities consider it auspicious to purchase gold or silver articles or at least sombre steel utensils – with the belief that new ‘dhan’ or some form of precious metal is a sign of good luck.
This Dhanteras – Give Yellow Metal a Miss!
In fact, years ago when gold price were under control, Dhanteras meant gold jewellery for almost everyone in the household – be it in the form of a thin chain or a simple ring. But, with gold prices spiraling sky-high over the last few years, buying gold during this festive season might not be the best idea for you – both as a devotee and as an investor.
However, you can still bring in good luck with other precious metals – such as Silver or Diamonds. Remember, silver will never be old fashioned. Moreover, since silver is a hard metal it will hold precious stones like diamonds even better.
But, if you are the one to believe in this cliché – “Higher the price tag, better the buy;” than certainly the dazzling diamond is meant for you. Though gold ornaments have always been a favourite buy, diamonds are fast becoming a rage among the buyers.
For a Change – The White Bauble is winning over the Hearts!
You have plenty to choose from the wide range of diamond earrings, pendants and necklaces. Women are increasingly consider gold as old-fashioned and are now looking at the white bauble with greater interest. Well, that’s not all – this might just be the right time to buy diamonds from investment perspective too.
What’s more, diamond prices have also been more stable than the gold prices. Further, the recent rally in gold is being driven by market speculation as to the overall health of the economy, while the steady uptrend in diamond prices is more firmly grounded in demand and supply dynamics.
So, How Much does the Dazzling Rock Cost?
Recession hits the richest and even the toughest (of rock) – thus, even diamond prices were not immune to the global slowdown as it lost sparkle by almost 30% from the peaks. Consumer fear, triggered by tightened credit, resulted in reduced luxury purchases and lower demand for diamonds.
However, diamond jewellery prices, in all segments, have risen only by 10 to 20% in the last 5 years, against the spectacular jump, of 185%, in gold prices.
Specifically speaking, I still haven’t answered the query posted in the above sub-heading, “How much does the dazzling rock cost?” Reason being, unlike gold, there is no single price for diamond because of various determinants including cut, weight and clarity.
Hence, when it comes to buying a diamond, sometimes it gets a little stressful as you walk into a jewellery store and feel like you’re being over-quoted in terms of price depending on specific parameters.
4C’s of Diamond
The ambiguity in determining the diamond prices based on various grading parameters calls for a need to understand the diamond buying guide – which can be categorized as 4C’s:
1) Diamond Cut:
It is the most important factor which determines as to how well proportioned the diamond is – in terms of diamond diameter as its depth, its various angles and how do they interact with each other. Cut refers to how cleanly and brilliantly a diamond may sparkle and twinkle back at you.
2) Diamond Color:
This aspect is the second most important characteristic of diamond quality. In fact, they claim that “When looking at a diamond, the human eye notices the diamond’s cut first and its diamond color second.”
The color of a diamond or lack thereof is something that you have to keep in mind while going on a shopping spree. The more the clear and colorless the diamond is, the higher the quality and cost of investment for the same.
3) Diamond Clarity:
All diamonds have identifying characteristics, but most are invisible to the naked eye. The term ‘diamond clarity’ refers to the clearness of the diamond – including minute flaws such as bubbles, imperfections or scratches that are visible inside or on the surface of the diamond itself.
4) Diamond Carat Weight:
Lastly, you cannot ignore the weight of a diamond – which is expressed in terms of ‘Carat’ – in deriving its actual value. Larger diamonds are more rare and in more demand than smaller diamonds of the same quality.
A one carat solitaire diamond ring is nearly always more expensive than a diamond ring made up of multiple diamonds that are similar, but smaller, even though they total one carat or more.
So, are you game for this new sparkle on upcoming Dhanteras?
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