With the prices of the yellow metal poised at a record-shattering Rs 24,145 for 10 grams, several brides-to-be are putting off shopping for gold
With the prices of the yellow metal poised at a record-shattering Rs 24,145 for 10 grams, several brides-to-be are putting off shopping for gold
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Weddingu00a0bells can be heard as the season to get hitched inches closer. And, in weddings, one usually expects to see brides bedecked in gold ornaments from head to toe.
However, it seems that they will be sans their favourite yellow metal this season, as the price of gold has hit another all-time high of Rs 24,145 for 10 grams.
Jewellers and industry experts say the price of gold has increased owing to "speculation in the international market" but that is little consolation for brides-to-be.u00a0u00a0
Salma Khan, a mother of two grooms-to-be said, "I don't understand what the government is doing. My sons are getting married in December and we have begun shopping for the weddings.
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The price of gold has soared so high, however, that I had to put off shopping for jewellery. I hope the prices come down soon."
The fretting mother of Reshma Zindran, who is to wed in January, echoed the same concern.
"My daughter's wedding is in January and I am really excited, but the price of gold has really put me in a dilemma. I will buy all her jewellery only after Diwali, as I have heard that the prices might drop then."
While some have chosen the wait-and-watch method, some have gone ahead and made changes to their wedding budgets.
Talking about her wedding shopping, Mariam, who is all set to get married in December. said, "My wedding is a once-in-a-lifetime affair and I have gone ahead and spent Rs 4 lakh on jewellery.
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I am also thinking of buying some imitation jewellery so that I don't look like a plain simple bride."
Silver Ahoy
It's not all bad news though. Jewellers say that with the increase in gold prices, the market can expect a substantial increase in supply of silver, which will bring the price of the white metal down.
Deepak Tulssiani, proprietor, Warkada Chandumal Jewellers at Zaveri Bazaar, said, "People who had bought silver at skyrocketing prices are now selling it to earn some extra money.
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With the large inflow of silver, its prices will come down soon."
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