Increasing gold prices have significantly affected consumer behavior, partly among middle -class families in Tamil Nadu, where the tradition of gold investment is deeply intertwined with cultural celebrations, especially weddings. As families prepare for the next nuptials in May, June and July, many are adopting a cautious approach.
The jewels, on the other hand, are making lucrative sacrifices such as lighter jewels and total value for old jewels, among other sacrifices. On Friday, the price of gold stood at ₹ 9,765 per gram (24 kt) that Meeaans a sovereign (8 grams) had a price of ₹ 78,120.
V. Shantha, whose daughter will marry in the coming months, said: “My daughter promised last year and at that time, the price of gold was around ₹ 6,800 per sovereign. We had committed ourselves to give him 21 sovereigns in the price, we came Fithaee, we are abundant. He said that this was not a decrease, but a gift that had promised his daughter.
“Now we have informed our daughter that we will deposit money in her account,” adds Shantha.
K. Priyadarshini, a receptionist from a private company that will marry in June, shared that her father had discussed the wedding jewels with her, and she had suggested that recounting, insisting or gold due to fluctuating prices. He pointed out that another friend of her, who will marry this year, also faces problems that manage the money to buy. As the price of gold, the yellow metal continues to increase, more consumers choose the plans to share months sacrificed by jewelers throughout the state to buy gold.
While consumers are still cautious and adopt a waiting and observation approach, the jewelry students affirm that despite the increase in prices, gold has proven consistently a reliable investment and a safe option.
Temporal phenomena
The biggest players in space say that this is just a temporary phenomenon and that the festive season will be strong. However, narrower players say that the average and low income groups will buy only if necessary.
“Every time there is a price increase … there will be a consumer resistance and consumption will decrease slightly, but with the Akhaya Tritiya season to come, consumption will be resumed. Gold has been a life that Saystarent. Any time,” Gr “Ananthapadmanabhan” Ananthapadmanabhan, managing director or GRT jeweler. Noting that the approach is now more in lightweight jewels, Hey said: “When I say lightweight, a gold article that can be done for two soeigns can also be done 1 -1.5 sovereigns.”
Soaring
Sachin Jain, Regional CEO, India, World Gold Council, said that with the gold prices that reach the maximum of all time, concerns about the lower demand, especially the middle class segment, abounded. “However, that category of buyers is buying lighter gold jewelry pieces, so it is affordable for them to fulfill their Assyrians of possessing and using the yellow metal,” he adds.
Kalyan Jewelers has exchange sacrifices, which allows customers to bring their old gold jewels and update newer designs. Sharing their views on the next Akshaya Tritiya, Ramesh Kalyananaraman, executive director of Kalyan Jewelers, said: “Customers can ensure the protection of rates through our early reserve scheme when paying the purchase amount of OPRHASE, current prices and safeguard against future price increases.”
“Customers are now more aware of gold purity options and are open to 14kt and 18kt jewels that are affordable, durable and elegant,” said Shyamala Ramanan, Business Chief – Mia de Tanishq.
Despite the fluctuating feelings, the jewels are optimistic that sales will be a good King Akhaya Tritiya. The retailers have supplied and expect a purchase of a bumper this year, Jain said.
Published – April 18, 2025 11:32 PM IST
