Gold ornaments seem to have lost their sheen with young fashionistas in the city, who have a different take when it comes to putting their hard earned money on the yellow metal, compared to the earlier generations.

The trend of investing in good quality diamonds appears to be catching up in Hyderabad. So is buying white gold and Italian fashion jewellery for regular wear. If it is gold, it has to be chic gold jewellery with platinum polish.

“With gold prices shooting up there is a shifting trend among the young urban professionals to pick smaller daily wear gold ornaments or fashion jewellery that they can keep changing with the attire. White gold is preferred as it goes well with western clothes. Platinum is limited to engagement rings. Interestingly, today one finds diamonds set in silver, an expensive metal today. A diamond with D colour, excellent cut and IF or VVS clarity is the best,” explains Akshay Tulshan who has been associated with Blue Star, site holder of De Beers.

Huge returns

“Many high net worth young professionals are buying diamonds in view of better returns, compared to investments in mutual funds. Apart from the three to five per cent appreciation after five years, huge returns are bound to happen after 15 to 20 years as you won't be able to get good quality diamonds then,” says Amit Hinduja, director Ctara Jewellers, a unit of D.T.Hinduja Jewellers Pvt. Limited.

“Even half a carat of quality diamond from a reputed firm is a safe buy as you are investing hard earned money. Look for buy back guarantee as diamonds can come handy in emergencies,” advises Harish Hinduja, MD of the firm.

When buying diamonds for investment, a grading report or international certification is a must. “Ask for IGI or GIA certificate even if it comes for a premium as you are assured of a quality diamond. Also, the Forevermark from De Beers is a unique number embedded in the diamond that prevents one from getting cheated during setting of the stone and ensures what you buy is not a blood diamond,” says Tulshan.

Blame it on hi-fashion or purchasing power of the ‘have money will invest generation' the glitter of diamonds seems to steal the sparkle from the yellow metal this Deepavali.