Last Updated : 20 March 2010 at 15:55 IST

Time for gold jewellers to check out new metals

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KOCHI/MUMBAI (Commodity Online): A few months ago, Commodityonline had written about the new trend of imitation jewellery and Bollywood style necklaces winning GenNext following the huge rise in prices of gold.

With no respite in Gold prices, more and more young generation people are going for different alternatives now. A new trend catching up with the young generation is wood crafted jewellery.

Even as Kerala has witnessed a major boom in imitation jewellery and gold plated stuff, Mumbai and other metro cities have seen a rush for Silver and other crafted jewellery.

A jeweler in Mumbai has launched a collection of wooden jewellery for the Indian markets. Unlike gold, which needs skilled craftsmen, wooden jewellery is made using a machine. The effect is smooth and classy.

Several jewelers in Mumbai and New Delhi have procured the machine from China, which is the largest manufacturer of innovative jewellery in the world.

The jewellery costs just a fraction of cost of gold jewellery and shopowners expect it to be popular with the younger generation in India.

A range of jewellery made of mixed metals is also in the works. Several jewelers are launching a range of products made from mixed metals, which include silver, Gold and Platinum that give a yellow gold kind of effect.

Unlike jewellery made from Silver which turns black, mixed metal jewellery retains its luster.

Compared to gold, silver offers returns to the tune of 10 to 15 per cent year-on-year. Jewellers expect the trend to continue in the future as well. With the prices of gold going beyond the reach of the common man, the demand for silver will continue.

Silver products in India have not been marketed well and hence many do not know about the returns they offer. A decent gift in gold would not come for less than Rs 15,000 to Rs 20,000. But people can get a decent silver artifact for Rs 5,000.

Analysts said those who buy jewellery made from alternative metal are basically impulsive buyers. The percentage of consumers who opt for such jewellery is very less and there is no resale value for such products.