Gold Losing its Lustre for Weddings?
As gold reached a high of $1000 per ounce on international markets, couples and their families in India are feeling the pinch and being forced to scale back on the glitter traditionally associated with weddings.
Brides, traditionally draped with numerous pieces of gold jewellry are increasing taking to wearing fake gold. In Dubai, to where many Indian families travel to purchase gold for upcoming weddings, traders are reporting an increasing inventory of unsold stock - prices are simply to high.
While weddings in the west are not the gilded affairs of those in India, gold still has a central place, and those shopping for rings or other wedding jewellry this year are likely to feel the effects of the market also.
So what to do? Two thing that we can think of.
First, think positive. Gold is an investment - that's what's feuling the increasing prices. So don't think of those rings as just decorative, think of them as a sound investment in your future finances.
Second, if your budget is really streched, stick to buying gold rings only and for the rest of the jewellry remember, it's a wedding and you HAVE to find something old and something borrowed anyway. Get raiding those jewellry boxes!
Friday, February 8 2008 | Category: Gold