Indians ditch gold for gemstones as sales jump 40%; stones cost Rs 5 lakh

The growing preference for premium coloured gemstones as against gold is also translating into higher prices.

Paraiba tourmalines, among the rarest gemstones, sell for around Rs 5 lakh per carat in India.

Demand for these stones is particularly strong among high-net-worth buyers in Mumbai, followed by customers in Delhi and South India.

This detailed Markets briefing is published on the UCO Bank SC/ST and OBC Employee's Council website so members can read the complete update without leaving the council portal.

Key focus areas include regulatory direction, banking operations, credit conditions, customer service, compliance readiness, and market developments connected with "Indians ditch gold for gemstones as sales jump 40%; stones cost Rs 5 lakh".

For council members and office bearers, the practical takeaway is to track how this update may affect branch workflows, zone-level coordination, employee representation, and member support requirements.

The council news desk recommends reviewing related circulars, service rules, and grievance channels where the development has service or welfare implications for SC, ST, and OBC employees.

Source attribution: Times of India – Business.

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