Ahmedabad Residents Opt for Lightweight Rakhis Amid Rising Gold and Silver Prices

Rising gold and silver prices are forcing Ahmedabad residents to opt for lightweight rakhis and smaller precious-metal gifts this Rakshabandhan season. According to city jewellers, sales of silver rakhis from wholesalers to retailers have fallen by around 20% compared to last year.

Jigar Patel, Secretary of the Gem and Jewellery Trade Council of India (GJTCI), attributed the decline in sales to the jump in silver prices over the year. He noted that lightweight, minimalist silver jewellery suitable for everyday office wear is emerging as a popular gifting option.

Silver rakhis costing between Rs 400-600 account for around 70% of total rakhi sales, while silver foil note replicas and gold coins are also gaining popularity. Twenty-four-carat gold has risen about 50% over the past year, driven by strong global safe-haven demand.