Bridal jewelery becomes expensive by up to Rs 5 lakh in Indore: Effect of rise in gold prices in 5 years; people changed options

Due to increase in the price of gold, the difficulties of customers buying jewelery during the wedding season have increased significantly. Due to cost of gold, the budget of weddings has been adversely affected. According to information received from Indore bullion market traders, customers will have to spend at least Rs 5 lakh more to buy wedding jewelery in 2024 as compared to 2020. Traders told that while in 2020 the cost of buying bridal jewelery was around Rs 10 lakh, now i.e. in April 2024, this cost has reached Rs 15 lakh 50 thousand. At the same time, traders said that due to the cost of gold, there has been a change in the trend of buying jewellery. First know which two new trends have emerged in buying jewelery due to gold becoming expensive… 1. Due to gold becoming expensive, customers are now buying jewelery of less weight. That means earlier they used to buy 10 grams, now they are buying only 5 to 6 grams. Traders said that customers are now buying such jewelery which appears to be made of heavy gold, but in reality it is very light i.e. of less gold. 2. Due to gold becoming expensive, people are buying new jewelery in exchange for the gold kept in their homes. According to the information received from the traders of the bullion market, in April, more than 15 percent of the gold which was years old came to be sold in the market. People are avoiding buying new gold due to it being expensive and are forced to buy new gold by giving away their old gold. Now know how expensive making wedding jewelery will be in 2024 compared to 2020… Making bridal jewelery has become costlier by Rs 5 lakh compared to 2020. Due to the high prices of gold, wedding houses are being affected the most. If you had got bridal jewelery made in 2020, you would have had to spend Rs 10 lakh 5 thousand 730. But now you will have to spend Rs 15 lakh 64 thousand 293 in making bridal jewelery in April 2024. Please note that this price also includes 10 percent construction cost. According to the information received from bullion traders, people are currently making 5 gram tilak, 10 gram chain, 5 gram nose ring, 25 gram necklace set, 80 gram kandora and 80 gram patli set for bridal jewellery. A chain of 10 grams, a ring of 5 grams and a bracelet of 15 grams are being made for the bride. Traders said this… Purchasing power of customers has become weak. Bullion trader Anil Anjania said that due to the cost of gold, the customer base has weakened. The purchasing power of customers has become weak. He is making light weight jewelery as per his budget. Whereas in 2020, the price of 22 carat gold was Rs 44 thousand 600 per 10 grams, while in 2024 it will be Rs 69 thousand 370. There is very little possibility of gold prices falling. Om Joshi of Joshi Jewelers said that today’s Cadbury price of gold is Rs 75 thousand 500. Whereas the price of 22 carat gold used for jewelery is Rs 69 thousand 370. At the same time, gold prices will increase further till Diwali. There is very little possibility of the price of gold falling. Gold prices also depend on the war between Israel and Iran. Also read these news… Daily wage laborers campaign in MP on bicycles: Doctors are asking for votes from patients at clinics, unemployed are also in the field. Finance Minister said – we will bring electoral bonds again: Congress said – how much more will we loot? ; Supreme Court had declared the scheme unconstitutional, Tihar said – Kejriwal stopped insulin before coming to jail: Jail administration sent report to LG; Allegation of arsonist – conspiracy to kill CM in jail

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