Customers asked to pay the yellow metal rate on the day of delivery instead of booking date.
Trend may slow down the growth in investment demand of the yellow metal in the short term.
"To support our massive retail activities, we plan to have our own textile brands - three women's wear brands, one men's wear and one kid's wear - in the next six months," says Deepak Tulsian, vice president, retail, of Gitanjali Gems.
Gold coins are selling at a Rs 100 per 10 gram premium since Guru Pushya Nakshatra, one of the most auspicious occasions for buying precious metals in western Indian states.
Due to less supply and rising demand from American and Asian markets on the back of economic recovery, the prices of rough diamonds ('roughs') have risen 50 per cent since July.
Jewellery retailers witnessed a 20 per cent increase in the sale of ornaments during the last fortnight. The rise was due to more consumer footfalls following a 1.6 per cent correction in prices.
Financial Technologies-promoted National Spot Exchange (NSEL) plans to introduce an e-gold conversion facility. This will allow buyers to purchase physical gold in the electronic format, store it in a demat account and convert it into jewellery as and when they wish.
The evolution of Bt created additional value worth Rs 40,000 crore until 2008.
Gold imports in India are estimated to have declined by 50 per cent to 30 tonnes during June-July.
High prices, individual investors and funds retaining their faith in gold as an alternate investment option also helped in improving the import figures.
Diamond prices fell about 30 per cent last year and had recovered by almost 15 per cent this year. Further recovery is imminent by the end of this year, said Mehul Choksi, chairman of Gitanjali Gems, a leading jewellery manufacturer and retailer, on the sidelines of a seminar organised by the Federation of Indian Chambers of Commerce and Industry in Mumbai on Monday.
Leading diamond jewellery manufacturer and retailer Gitanjali Gems Ltd is entering into real estate business through its maiden residential project at Borivli, in Mumbai's western suburb.
Come December, the Forevermark brand will take on India's leading diamond retailers
The spot gold was sold below the landed cost due to the weak demand for the metal.
Most economists say the impact on inflation could be substantial, considering that steel prices rose by over 9 per cent in the past year.
India retains its number one position in gold consumption in 2009, recording a total demand of 405.8 tonnes.
Initially, the industry thought jatropha could be grown on wasteland, without irrigation. They got it wrong, as good care is required for at least three years of the total plant life of 40-45 years, in which moderate irrigation is also required.
Diamond Trading Corporation, the marketing arm of the world's largest diamond producer De Beers, is planning to increase its intake by 25 per cent from its last year's sale of $3.5 billion.
Unperturbed by the recent arrest of 21 Indians for allegedly smuggling diamonds from Hong Kong to mainland China, Indian diamond jewellery manufacturers continue to actively explore the potential in the market of that vast country.
The National Spot Exchange Ltd has urged the government's Food Corporation of India to reduce the permitted price if it wishes wheat to be auctioned under the government's Open Market Sales Scheme.
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