New Delhi, May 28 -- There has been a shift in preference by gold jewellery buyers with the rising prices of the yellow metal. Talking to reporters on Wednesday in the national capital, O Asher, Managing Director of Indian operations for Malabar Gold and Diamonds, said, rising gold prices are driving customers to shift from 22-carat to 18-carat jewelry.

While the overall value of gold jewellery sales has increased, the per-customer volume has declined, he said.

"We are creating lighter-weight jewelry while maintaining the same designs to keep pieces within our customers' budgets," Asher explained.

"If someone has a budget of one lakh rupees, they cannot increase it, so we've adapted our strategy. By keeping designs identical but reduci...