Srinagar, Aug 30: In a dramatic shift shaking the foundations of Kashmiri wedding customs, soaring gold prices have forced couples to abandon traditional gilded gifts in favor of cash. The once-bustling gold bazaars of Zainabad now stand eerily quiet as families grapple with the financial strain of maintaining age-old traditions.
Abdul Hamid, a gold dealer paints a grim picture of the current scenario. “The demand has plummeted by a staggering 75% this season,” he laments. “People are facing immense hardships buying gold, which has always been an essential part of our weddings.”
The marriage season in Kashmir, typically spanning from August to November, has witnessed a seismic shift in gift-giving practices. With gold prices surging by 1.7% or 1,200 rupees per 10 grams in a single day, many are opting to present cash to newlyweds instead of traditional gold ornaments.
Sana Mir, a bride-to-be, expresses her disappointment at this turn of events. “The cost of gold has nearly doubled in just two years. It’s creating a significant financial strain on our families,” she sighs, echoing the sentiments of many in her position.
The impact of this golden crisis is far-reaching. Jewelers report a 75% decrease in gold demand, with 24-carat gold now costing a whopping 7,400 rupees per gram. Its 22-carat counterpart isn’t far behind, priced at 7,300 rupees per gram.
“Marriages still happen, but the sluggish demand for gold is undeniable,” Khan adds, highlighting the resilience of Kashmiri society in the face of economic challenges. “People are increasingly gifting cash to the bride and groom.”
As the Valley grapples with this shift, one thing remains clear: while the gleam of Kashmiri weddings may be dimming, the spirit of celebration continues unabated. The question on everyone’s mind is whether this golden drought will reshape Kashmiri wedding traditions for good, or if it’s merely a temporary tarnish on a timeless custom.
For now, as gold loses its luster in the realm of wedding gifts, cash emerges as the new king. It’s a stark reminder of how global economic forces can reshape even the most deeply ingrained cultural practices, leaving communities to adapt and find new ways to honor their traditions.
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