Augmont expands SPOT Gold Trading platform with lab grown diamond integration for global markets
Trading of Lab-Grown Diamonds through SPOT 2.0 platform enables buyers and sellers to trade with transparency and confidence
January 28, 2025, India: Augmont, India’s largest gold trading platform announced that it has added Lab Grown Diamonds (LGD) to its existing online SPOT trading platform for precious metals catering to more than 5,000 jewellers across the country.
The enhanced SPOT 2.0 platform brings Augmont’s 17 years of precious metals trading expertise to the growing LGD sector. This addition represents an evolution of diamond trading infrastructure, particularly as India maintains its position as the world’s largest diamond cutting and polishing destination.
The platform enhancement introduces transparent pricing mechanisms and streamlined procurement processes for the LGD market inspiring confidence among key stakeholders. This strategic move is set to streamline the procurement for jewellers while establishing a transparent and efficient pricing mechanism for the rapidly growing LGD market in India.
Mr. Ketan Kothari, Director of Augmont Group, said, “Augmont has firmly established itself as India’s go-to destination for buying and selling gold. Building on this strong foundation, 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 USA, Europe, Gulf and East Asia’’
Mr. Aarav Bafna, Product Head (LGD), Augmont, said, “With the extended version of SPOT, we plan 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 revolutionized gold trading and price discovery in India, we are now ready to redefine and reimagine the LGD market.”
SPOT offers a comprehensive and unified trading experience, enabling jewellers to source all their manufacturing requirements—including gold, silver, platinum, lab-grown diamonds, precious metal alloys, precious stones, and other essential materials—through a single integrated online platform. It also features real-time price discovery powered by advanced algorithms and market mechanisms, ensuring transparent and fair pricing. Quality assurance is a priority, with certification and verification processes for all listed diamonds. Built upon Augmont’s proven 17-year-old trading infrastructure, SPOT ensures seamless integration for a reliable and efficient trading experience.
The platform addresses the growing demand for lab-grown diamonds, which have gained significant market share due to their sustainable nature and competitive pricing. SPOT is expected to handle substantial trading volumes, reflecting India’s dominant position in the global LGD polishing industry.
As per the Commerce Ministry’s data, India polishes almost 98% of all lab-grown diamonds in the world in 2022.
As per the EY report, the demand for Lab-Grown Diamonds is rising across the world, and its global market size is growing at 8.64% CAGR to touch $39.3 billion by 2028. And the Indian lab-grown diamond jewellery market, which was valued at around $300 million in 2023, is set to increase to $1.2 billion by 2033.
About Augmont Group: Augmont is India’s leading end-to-end gold platform, offering a comprehensive suite of services, including digital gold, gold loans, gold coins, gold jewellery, jewellery on EMI and bullion trading. Trusted by over 40 million customers, Augmont provides innovative and accessible gold solutions through its award-winning technology platform, partnerships with over 5,000 jewellers, and a network of over 100 physical stores and touch points. Its mission is to make gold accessible and convenient for all, leveraging its expertise in gold management, price discovery, and customer-centric services.
Augmont is a leader and pioneer in gold with several firsts to their credit: the world’s largest and India’s first physical gold, silver, platinum platform since 2008; India’s first digital gold platform (rebranded as Augmont Digi Gold); World’s largest investible jewellery product, in tamper-proof packaging; India Book of Records Recognition for Crafting the Nation’s Thinnest Gold Coin among others.
As India’s leading gold platform and pioneer in making gold accessible to all, Augmont delivers a wide range of services with a reputation for quality, commitment, and outstanding performance. Augmont stands as India’s premier gold and silver refinery, offering the SPOT platform for online trading of precious metals. Augmont Gold For all platform integrates the entire lifecycle of gold and tends to be a one-stop solution for retail customers. Augmont works on core principles such as Customer-Centric Approach, Innovation & Technology, Transparency & Trust, Accessibility & Inclusivity, Sustainability & Responsibility, and Learning & Development.ends GNI
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