By Tina Isaac-Goizé Reporting from Paris Charlotte Dauphin never quite felt at home in her showroom on the Place Vendôme, generally considered the heart of the global haute jewelry scene.

“It’s a challenge,” said Arun Dhaddha, the managing director of Gyan Jaipur, a fine jewelry brand in Jaipur, India. “It’s all about the wars and the situation in the world, and gold is ...