Ahmedabad: The prices of gemstones used for astrological remedies have increased by 30-40% over the past two years, making them increasingly unaffordable for many customers, jewellers said.Premium pukhraj (yellow sapphire) stone rates have crossed Rs 1 lakh per carat, while even budget-category pukhraj stones now cost around Rs 3,000-5,000 per carat in Ahmedabad. Other precious stones, including sapphire, pearl, emerald and ruby, have also seen similar price increases. Experts cited reduced availability against rising demand as the primary driver behind the surge. Sri Lanka, a major source of these gemstones, has witnessed reduced mining activity, resulting in a short supply in the market. Jigar Patel, treasurer of the Jewellers’ Association Ahmedabad, said, “Beyond gold and silver, prices of precious gemstones used for astrological remedies also rose sharply. Stones such as pukhraj, emerald, ruby, and pearl saw retail prices climb by 30-40% over the past two years, affecting those advised to wear them. Premium pukhraj went above Rs 1 lakh per carat.” Patel attributed the sharp increase to international market trends, noting that overall global prices increased by around 25%. For imported stones, the price rise was even higher due to rupee devaluation, he added. Hemang Barot, director of a leading gemstones brand, explained that while each precious stone’s value varies based on its characteristics, all stones averaged around a 30% price increase over two years. “Stone availability decreased year by year, and there is a short supply of high-quality stones. Average-quality stones also became expensive ,” he said. “As gold has become more expensive, many customers have been preferring gemstone jewellery. Larger gemstone pieces are more readily available than small gold chains, so people often wear gemstone jewellery at wedding functions,” Barot noted. Some gemstones also offer buy-back potential. “The price rise, along with higher gold rates, has strained customers’ budgets. Those who intended to buy a 10-carat stone are now choosing an 8-carat one,” Barot added.
