Dhanteras 2024: Delhiites take to minimal jewellery amid spike in gold price

Have you checked the gold rate today? Until yesterday for 10g of 24-carat gold, Delhiites had to shell out ₹80, 453. Seeing the shiny metal make new records, during this festive season, several residents of Delhi-NCR share how they plan to buy minimal jewellery and in lower caratages on Dhanteras, today. The city-based jewellers also confirm that lightweight ornaments are more in demand this time around.
“Last year, I purchased a beautiful gold ring as an investment, which I don’t think will be a feasible purchase this year,” says Rohan Saini, a 26-year-old lawyer from Lajpat Nagar, adding, “I have decided to gift my mum a small diamond-studded gold pendant on Dhanteras. Since she is a college lecturer, the design is such that it can be worn while she’s at work.”
Stuti Gupta, a 24-year-old financial analyst from Gurugram tells us, “I remember gold rates being lesser last year when my mum brought gold coins on Dhanteras. But this time, I plan to buy only cute heart-shaped gold earrings for my cousin and myself. It’s the perfect purchase because the earrings do not burn a hole in my pocket. They can be used to accessorize both Western and ethnic Indian wear.”

“Our customers are requesting minimalist, graceful designs. For instance, a plain gold or silver chain with a heart shape or filigree-type pendants are in demand. Plain gold or silver jewellery, studded with diamonds is also popular,” informs Arun Sharma, a jeweller from Pitampura, adding, “We have also seen a noticeable trend in people preferring to buy gold and silver coins, as opposed to jewellery pieces, since the making charges of coins are relatively lower.”
Adding to this, Shreyansh Jain from a gold and diamond store in Chandni Chowk, says, “Even the taste of those clients who have been visiting our shop for decades has changed now. Young professionals especially request bangles and necklaces that are not very heavy. They like to look at jewellery design options that can be worn both at the workplace as well as on their special occasions.”
“Clients no longer restrict themselves to 22-carat gold items. Since 18-carat gold jewellery can cater to their budget and requirements better, lesser caratage is being embraced by customers”, says Puneet Mehra, a jeweller in Lajpat Nagar, adding, “Of course, the rise in gold rate has played a majot role, but technological prowess also allows manufacturing of intricate yet lightweight jewellery.”
“Customers are also preferring to buy versatile, dual-use jewellery in different styles. Ornaments involving the use of gold with coloured stones is popular in the market. Last year, the price of 10g of gold was around ₹ 62,000, which is ₹ 80,000 today so we as sellers are then required to bring in an innovation in jewellery, ” opines Shobhit Verma, a jeweller from South Extension Part I.

Story by Mehak Talwar