At Indian weddings, celebrations are celebrated for days, eaten and above all: gold. It stands for tradition, status and security. But the record -high gold price endangers this tradition.
In the south of New Delhis, shop manager Gaurav Chandra presents a necklace with rubies, diamonds and a golden trailer-as big as a walnut. “This kind of jewelry is made for weddings,” he explains. Polki jewelry, opulent and handmade, is firmly part of the traditional bridal equipment. Every piece of jewelry is staged here. It is wedding season – and in the coming weeks it will be married all over the country. A big show. But not everyone can play along.
Kalpana Mathur is sitting a few kilometers away and looks worries at the coming weeks: her son will get married – but the costs for the jewelry are heavily burdened by the family. “The appointment is clear, but the gold price has risen so much. We now only get half for our money,” she says.
In fact, the digital scoreboard in the air -conditioned jewelry shop shows a record value: 97,460 rupees – over 1,000 euros – cost ten grams of 24 -carat gold. And jewelry gold is also hardly cheaper: 22 karat, the standard for high -quality bridal jewelry, is only slightly below. Geopolitical uncertainties and a fluctuating US customs policy raised the price.
Gaurav Chandra presents classic Indian wedding jewelry made of gold with rubies.
Between the value system and obligation
Despite the high prices, many families do not give up. Gold is not only considered jewelry in India, but also as an investment – and as protection for women. Mohit Chopra, for example, sits in soft armchairs with his wife, black jewelry boxes in front of them. For him, the price question seems secondary: “What do we earn money for? So why should it play a role?” He says with a laugh.
But only a few can afford such statements. For families from the middle class, even the absolute minimum of bridal jewelry can hardly be lifted. Store manager Chandra calculates: “The bare essentials – a necklace, bracelets, a nose ring and forehead jewelry – costs at least 20 to 25 lakhs”, ie the equivalent of around 22,000 to 28,000 euros.
Most therefore reach deep into their own collection – or exchange old family jewelry for new designs. “Many bought for 40,000 rupees ten years ago – today it’s worth twice as much,” explains Chandra. Customers emit old jewelry and acquire modern, lighter designs – often adapted to the wishes of the daughters.
The Chopra family is advised. You can afford gold jewelry despite increased prices.
The price increases, sales break up
But even this compromise does not help everyone. Mohit Shekhar, managing director of the jewelry business, analyzes the situation between price tables, laptop and a cup of tea sober: “When the price increases, the store is empty. If it only falls by 2,000 rupees, the business is immediately full again.” Sales had broken up by up to 25 percent in its branch, other jewelers even report on halving customers.
According to China, India is the second largest market for gold worldwide – around 70 percent of the precious metal are bought there in jewelry. It is not for nothing that half of the global private gold population is in the cupboards of Indian women. A sign of how closely the possession of gold is linked to social role models.
“In India, gold is considered a wealth structure for women,” says Shekhar. “Many women do not work, so do not earn their own money. That’s why men give women jewelry on every occasion.” A millennia -old practice, he says – which is now faltering.
Not only for the heart: in India, gold jewelry is of great importance as a wedding gift.
A tradition under pressure
Kalpana Mathur still wants to stick to the tradition, but has to improvise. Your daughter -in -law should receive a small chain for engagement – the big gift is only available for the wedding. She will probably also have to contribute a piece from her own collection, she says.
In India, many parents are already starting to buy gold with the birth of their child – especially when it comes to a daughter, explains gold expert Shekhar. But especially for younger generations, it is becoming increasingly difficult to build your own reserves in the form of gold. With every further increase in price, the question arises: How long can this tradition last?
“In the past, you simply gave away ten grams of gold at the wedding,” says Shekhar. “Today the budget has remained the same – but the money is now flowing into smartphones, brand fashion or electronics.” If gold remains priceless, the loss of a cultural symbol that has embodied security, pride and status threatens in India.
