Indian Families Adapt to Soaring Gold and Silver Prices Amidst Ganeshotsav Celebrations

Despite soaring gold and silver prices, families in India are not giving up on their traditional Ganeshotsav celebrations. According to jewellers, shoppers are opting for smaller mukuts (headpieces) and lighter haars, while still choosing compact silver pieces. The prices of gold have risen to around Rs1.55 lakh per 10g, while silver is at Rs2.45 lakh per kg.

Vastupal Ranka, director at Ranka Jewellers in Pune, said that customers are looking for articles that appear grand but are lighter and fit their budget. He added that purchases typically pick up about 10 days before Ganeshotsav, and families want to maintain the traditional character of the pieces.

Silver durva (grass) and modaks are among Ranka Jewellers' fastest-moving articles this year. Customers are also buying silver thalis, lotas, panchpatras, lamps, and bowls in lightweight varieties due to rising prices. Hemant Chavaan, head of marketing and e-commerce at PNG Jewellers, noted that silver demand is strong for Ganeshotsav, with customers buying mukuts, haars, kalash, auspicious ornaments, durva, hibiscus flowers, and other puja articles.