International Desk: Buyers of gold jewelry are now turning to affordable 18 carat jewelry instead of expensive 22 carat jewelry. After the price of the precious metal reached its highest level in history, such a trend has emerged in the United Arab Emirates, one of the world's markets. Dubai officials involved in the industry said the demand for diamond jewelery is increasing due to the high price of gold. This shows a major change in the gold market.

Just 6 days ago in Dubai on October 23, the price of 24 carat gold reached a maximum of 333 dirhams per gram, while the price of 22 carat gold rose to 308.25 dirhams. On the other hand, the price of 21 carat and 18 carat touched the highest level of 298.5 and 255.75 dirhams per gram respectively.

The popularity of expensive jewelery of 22 carat quality is at an all time high in the Dubai gold market. This quality of gold is especially prized by buyers in Asia for its purity.

Khaleej Times reports that after the new record in the price of gold, the choice of buyers is also changing. Buyers are now also turning to affordable gold jewelery that is relatively small in size and light in weight.

Meanwhile, manufacturers are now creating budget-friendly and affordable jewelry. Meanwhile, with the Indian festivals of Diwali and Dhanteras approaching, the Dubai Gold Souq has witnessed an increase in the number of shoppers. The news of various offers and discounts from more than 300 retail level sellers is seen in those outlets overflowing with shoppers.

Liali Jewelery Managing Director Anurag Sinha said, 'With the increase in the price of gold, the demand for 18 carat jewelery is increasing, which is affordable and affordable compared to 22 carat or 24 carat.'

He said, 'After the record price of gold, 18 carat jewelery has become more attractive to buyers. Because this carat has become a source of durability, versatile design and safe investment in an expensive gold market.'

Chirag Vora, Managing Director of Bafleh Jewellery, said that there is a difference of 15 to 18 percent in the price of 18 carat and 22 carat gold. At the same time, its demand is high because it is relatively lighter in weight than 22 carats.

Afzal Arakkal, director of Arakkal Gold and Diamonds, made similar comments. "The demand for 18 carat jewelery is now increasing, as it is affordable, with a significant gold content (75 per cent), and its design is very attractive, making it an alternative economy for many buyers," he said.

Diamond demand on the rise: After gold prices hit record highs, buyers are turning to diamond jewellery. The demand and attractiveness of diamond jewelery has also increased due to the high price of gold, said industry leaders.