CHENNAI (Commodity Online): Platinum is slowly gaining ground in India with fashion shows now feature the metal in a big way. This week a popular jewellery show in India’s southern metro Chennai witnessed models descending to the city to showcase the latest trends in jewellery crafted from platinum, plus its diamond, ruby and emerald counterparts.

Indian consumers have traditionally favoured gold, but prices recently reached an all-time high of $1,227 per ounce, leading some to look elsewhere for more affordable options.

Today for the middle class in India, gold has gone beyond their reach. So diamond has become affordable and platinum is also affordable.

A one, two or three-gram platinum ring with a single diamond is great. And people also feel very proud when they possess platinum or a diamond ring.

The Madras Jewellers and Diamond Merchants Association conducted the show with models wearing the latest trendy ornaments. Nearly 40 percent of Indian gold jewellery exports go to the United States. Other major markets for jewellery and diamonds are Hong Kong and Belgium.

In addition to diamonds, there were rubies, emeralds and platinum jewelry at the show.