The idea of a wedding for Indians had recently changed. The gathering has been reduced to close relatives and close friends, the week-long celebration is now managed in a day or two, many offline purchases have been transformed into a digital medium.
However, what doesn’t seem to have changed much during this time is the craze for jewelry during the wedding and party seasons. Reducing the demand for gold jewelry during the festive season is helping gold sellers across India to return after an easy recovery. The majority of the clientele are those, whose weddings were originally planned in the first and second quarters, but then postponed to the third and fourth quarters.
There are few pre and post wedding activities and therefore the average investment in a wedding is (relatively) low. The additional budget is now being pushed aside and more investment in gold is allowed as collateral in the future. The industry has also seen an increase in old gold exchanges, as well as pre-booked jewelry, with prices expected to increase in the short to medium term.
Speaking about jewelry preferences, the spokesperson mentioned that temple ornaments and elegant antique gold designs are inspired by art and heritage, young couples always love to show off their heritage. Gold and colored gems are the next pick for the wedding brigade looking for specific designs with a mix of traditional and modern. During this period, some jewelers have launched new collections for children, taking into account the fact that children today are increasingly drawn to the style.
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