As Valentine’s Day is approaching, the incredible deals and discounts on various giftable items are increasing rapidly.
Amidst the excitement of the day-of-love, it is being observed that many millennials are switching to designer silver jewellery instead of buying bullion. If you are wondering what the sudden reason behind this change might be, let us give you a picture!
Love is in the air, but so are the prices!
With the increase in the price of bullion, a speedy shift in customers from bullion to low-value silver jewellery is becoming highly common everywhere. While many middle-class families have completely dropped the idea of buying bullion now, even millennials are saying ‘NO’ to it this Valentine’s Day and we can’t get enough of that.
Such news was mostly brought to light when Anantha Padmanaban, managing director, NAC Jewellers, a Chennai-based jewellery retailer stated in an interview:
“Many jewellery manufacturers and retailers have launched handcrafted pieces by designers in low-value silver jewellery, which are studded with lucrative coloured gemstones, to attract customers. With a good finish, these have been the preferred choice for young couples this season. Low-ticket size basic ornaments such as rings, pendants, etc. are also selling, but not to the tune of silver jewellery this Valentine’s Day,”
Due to this high demand for silver jewellery, many jewellers are now introducing the same with heavy look and stone embedded pieces to lure customers this February 14 for Rs. 10,000 to 15,000 which is highly affordable for everyone. Meanwhile, the price of gold is skyrocketing between 40,000 to 50,000 making clients think twice before saying ‘yes’.
Enjoy the season of love
Whether millennials will go back to buying gold jewellery and spending on bullion is still to be considered. Meanwhile, let’s enjoy the season of love to the fullest!
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