Sunday, 15 December 2024 | PNS | DEHRADUN
Many jewellery shop owners in Dehradun have expressed their concerns regarding the decline in customer purchases due to the rising costs of gold and silver jewellery during the current wedding season. It is evident that the prices of gold have increased over the past three to four months, impacting the budgets of families celebrating weddings. In light of this situation, jewellery shop owners in Dehradun have observed a shift among consumers from purchasing heavier jewellery to opting for lighter pieces during this wedding season.
A jewellery shop owner Harkirat Singh, said that the price of gold has risen by an average of 10 per cent compared to the previous year’s wedding season. Further, he noted that the prices began to rise in October, which typically marks the start of the wedding season.
He indicated that the recent increase in the price of gold, which is currently at Rs 70,500 for 24-carat gold, has altered customer purchase quantities compared to last year. During this year’s wedding season, individuals were opting for Italian gold, known for its stylish design and lightweight nature, to manage the higher costs. He emphasised that the demand for heavy jewellery has decreased this season, resulting in a greater focus on purchasing lightweight gold from the wholesale market.
Further, another jewellery shop owner, Raja Dixit noted that the surge in gold prices has significantly impacted purchasing quantities. Consumers have reduced their gold purchases, which has affected the jewellery business. To attract customers during this wedding season, he added that they have introduced several offers and discounts on making charges.
Various jewellery shop owners have voiced similar concerns regarding the reduced volume of gold purchases this year, attributing it to the significant increase in prices.
Customer Sakshi Chauhan said that the price of gold has been notably high not only during the wedding season but also during Deepawali this year. She added that, as a result, she had chosen to forgo purchasing gold for Deepawali. However, due to an upcoming wedding in her family, she has opted for lighter jewellery instead of heavier pieces.
