The $7000 Diamond Rakhi for the Indian Festival of Raksha Bandhan

Business Insider reports that Indians are likely to purchase more gold and diamonds as the Rakhi festival comes up.

The market news is quoted as saying,

However with all things symbolic – bling has made its way into this festival as well. It comes as no surprise given that Indians are amongst the biggest buyers of gold and diamonds globally. Combined with the fact that this Asian economy is still growing substantially – we have rakhis which are usually simple colored threads in the form of gold and platinum threads embellished with precious stones (crystals, rubies , emeralds).

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