Augmont Adds Lab-Grown Diamonds to Gold Trading Platform

Mumbai, Jan 28 (PTI) End-to-end digital bullion platform Augmont on Tuesday said it has added lab-grown diamonds (LGD) to its online spot trading platform catering to more than 5,000 jewellers across the country.

"Augmont has firmly established itself as India's go-to destination for buying and selling gold. We are proud to have our own lab-grown diamond (LGD) platform on Augmont SPOT, addressing the surging demand in this rapidly growing industry. The platform will enable market pricing and delivery of these diamonds globally, including the US, Europe, Gulf, and East Asia," Augmont Group Director Ketan Kothari said in a statement.

Its product head (LGD) Aarav Bafna said that with the extended version of the spot, Augmont plans to set a benchmark for LGD pricing.

"The current LGD pricing model, based solely on discounts relative to mined diamonds, is fundamentally flawed and irrational. Augmont is here to transform that narrative. Just as we revolutionised gold trading and price discovery in India, we are now ready to redefine and reimagine the LGD market," he added.