The decline was primarily as a result of a slowdown in demand in key markets and supply constraints of diamonds. Annual jewelry consumption in Japan slipped fractionally was virtually unchanged at 15t in 2022. Rising local gold costs and a return to inflation will likely have dented client sentiment. Although demand in Japan has recovered from the very weak COVID-hit 2020, it has but to regain the 16-17t annual range that was typical earlier than the pandemic. Meanwhile, premium merchandise together with Heritage Gold jewellery continued to broaden their market share.
The jewellery for Lord Ram idol in Ayodhya’s Ram Mandir is crafted by Harsahaimal Shiamlal Jewellers and certified by the International Gemological Institute. It features a 1.7 kg yellow gold crown adorned with 75 carats of diamonds, a hundred thirty five carats of emeralds, and 262 carats of rubies. Each piece of jewellery that the idol of Lord Ram …