Gold, a staple in nearly every Indian household, has reached unprecedented heights, hitting a global high of $3,385.08 per ounce due to ongoing US-China tariff tensions. This surge has sent shockwaves through markets, with the price of 24-carat gold in India skyrocketing to Rs 99,660 per 10 grams. The timing couldn’t be worse, as this price spike coincides with the peak wedding season in states like Telangana.
Traditionally, the summer months are a busy period for weddings, driving strong demand for gold jewelry. However, the sharp increase in gold prices has caused a significant shift in consumer behavior. Jewellers across Telangana are reporting a dramatic drop in foot traffic and sales.
Mahaveer Bohra, a jeweller from Secunderabad, explained, “Summers are typically when most marriages happen, and marriage obviously means gold. But due to the steep price hike, people are hesitant and waiting for prices to fall. Sales have dropped by 50–90%, with purchases happening only when absolutely necessary.”
This slowdown is not limited to large retailers but is also impacting small, local jewellery shops that rely heavily on seasonal wedding sales. Many consumers are taking a cautious approach, adopting a “wait-and-watch” strategy, as rumors circulate about a potential drop in gold prices.
Sucherita Divakar, an educationist from Hyderabad, shared her decision to delay her purchase, saying, “I believe gold prices will drop — maybe even by 30%. I’m planning to wait another 6 to 9 months before buying.”
However, industry insiders are urging caution, dismissing the idea of a major price drop. “Gold prices might dip slightly in the coming months, but not drastically. A maximum drop of 5–10% is more realistic, which would bring prices down to around Rs 85,000–Rs 90,000 per 10 grams,” said another jeweller.
Despite the uncertainty, gold continues to be an integral part of wedding celebrations in India. But with soaring prices, many families are being forced to rethink their purchasing decisions and adjust the scale of their gold-related expenditures during this crucial season.
