The people of Andhra Pradesh are feeling the pressure as gold prices have soared to unprecedented levels, now hitting an all-time high of ₹80,000 for 10 grams. This rise is impacting families across the state, especially those with upcoming weddings, as traditional Indian weddings are rarely complete without gold and silver ornaments. Adding to the financial strain, silver prices have also surged, reaching ₹1,12,100 per kilogram.
With the ongoing wedding season, which began after Dasara, the demand for gold remains high. Vedic pundits have marked several auspicious wedding dates in October, November, and December. With thousands of weddings planned for these months, families are finding it challenging to manage costs. October 27, along with dates in November and December, is considered auspicious, adding to the intense demand for gold and silver for wedding preparations.
Parents like D. Venkateswara Rao and Rajyalakshmi, who planned their daughter’s November wedding, are deeply affected. They noted that the gold price three months ago was around ₹60,000 per 10 grams, but now they face an additional ₹15,000 per 10 grams. Having already taken loans for the wedding, the escalating prices will further increase their financial burdens. They expressed hope that the government could intervene to stabilize gold prices, which would be a relief for families with upcoming weddings.
Gold merchants, too, acknowledge the impact of these prices. G. Balaji, a local gold merchant, noted that while Dhanteras and Diwali traditionally boost gold sales, the extreme prices could slightly dampen sales. Yet, with the strong cultural significance of gold in marriages, demand will likely persist, adding to the festive wedding season atmosphere but also presenting a financial challenge for many.
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