Soaring gold prices cast shadow over Kashmir’s wedding season

Baramulla, Sep 15: Weddings in Kashmir, traditionally marked by the glitter of gold, are now clouded by anxiety as unprecedented price surges have left families distressed. The rise in gold has struck at the heart of Kashmiri society, where ornaments are not just adornments but an essential part of the cultural fabric, exchanged as a symbol of respect, security, and familial pride.

Across north Kashmir, families are finding it increasingly difficult to cope with the financial burden.

For Javed Ahmad, a carpenter from Baramulla, the crisis is deeply personal. His daughter’s marriage, rescheduled for next month, has left him scrambling. “With little resources, I am unable to purchase gold for my daughter. These prices have shattered me, and I curse myself as a father who cannot fulfill this responsibility,” he said, recalling that just last year, gold was priced at Rs 73,820 per 10 grams. Today, it hovers around Rs 1,09,800.

Jewellery shops, usually bustling during this season, are reporting a sharp dip in sales. “Despite the peak marriage season, most customers are reluctant to buy gold. Families keep waiting for rates to fall,” said Muhammad Asif, a jeweller in Baramulla. He noted that some families have shifted to symbolic purchases, offering cash instead, with the promise that gold will be bought later when prices stabilise.

The price surge has also created unexpected market trends. Gold-plated ornaments, once dismissed as mere imitations, are now selling briskly. Fayaz Ahmad, a trader from Sopore, said, “Scores of customers, especially women, now prefer gold-plated ornaments identical in appearance to real gold. Even well-off families are buying them for daily use.” This shift reflects a broader adjustment in social expectations, as people balance tradition with economic reality.

The pain of rising gold rates is compounded by parallel inflation in silver, which recently hit a record Rs 1,32,300 per kilogram. While bullion traders attribute the volatility to global factors, including US monetary policy expectations and industrial demand for silver, for Kashmiri families, such explanations do little to ease the immediate burden of marriage expenses.

In a society where weddings are elaborate community affairs, often requiring families to spend years saving for jewellery and dowry, the surge in prices has left many reconsidering cultural practices. Some families are now turning to mutual understanding and compromise, agreeing to minimise gold purchases and instead focusing on financial stability.

Yet, the emotional toll is visible. “This is not just about ornaments. For us, gold is dignity, tradition, and security for our daughters,” said Javed Ahmad, his voice heavy with despair.