Over the past two years, we have become accustomed to marriages being postponed due to covid. But today, a new reason for postponing marriages have arisen. Any guesses who this new villain could be? This is something that is very close to Malayalis’ hearts!
Oh yeah, you read it right.
The price of gold is skyrocketing like never before. On March 13th, 24-carat gold (10 grams) hit Rs 52,800 while 22-carat gold (10 grams) hit a whopping Rs 48,400. As per news reports, this is the highest that gold prices have hit in the past year.
The main culprits for this situation are the ongoing Russia-Ukraine war and depreciation of the Indian Rupee (INR) against the US Dollar (USD).
While this scenario might be a bane for many, it can also be perceived as a blessing for some.
Bane Category – Upcoming Kalyanams!
In the past few years, gold decked brides have become synonymous with Kerala. Even though recently we saw a rise in simple marriages with minimalist gold affairs, Kerala is still not ready to say a permanent goodbye to the 100 Pavan gold standard. So all the marriages planned to uphold status and prestige will face a setback. Reports suggest that people have even started postponing marriages till gold becomes more affordable (#facepalm).
Maybe this is our cue to alter the Face of Kerala Weddings. All the future brides and grooms who are against a golden wedding, this is the perfect time to say ‘No’. Try exploring the options of affordable imitation jewellery and save your parents lifetime savings. Also indirectly, this situation may help to curtail dowry exchange too.
Blessing Category – Gold stock in lockers!
Thanks to Malayalis’ obsession with the yellow metal, many of us can be now tagged as ‘Richie Rich’. Also, do remember to say a ‘Thank you’ to all those forefathers who have passed on to you a box of ancestral pieces of jewellery, bars, and coins.
Today, the value of the gold stashed away in your lockers is worth a lot more. Maybe it is time to sell those off and go on a world cruise. But fortunately or unfortunately, the majority of Malayalis are just going to preserve this gold in their personal lockers for decades to come, regardless of price increase or drop.
Blessing Category – Gold in paper!
There is another set of people for whom the current gold price increase would benefit the most – The suave investors who have chosen Gold ETF (exchange-traded fund) as an investment option. As there are no emotional sentiments attached to selling off a unit of Gold held in dematerialised form, these visionaries are the ones who are highly likely to go on that world cruise.
‘Mutual Fund investments are subject to market risks, read all scheme related documents carefully. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates.’
As the above famous saying goes, since no one can predict the market, do not regret the decisions that are made today based on tomorrow’s unforeseeable future. Take a chill pill, have some elaneer vellum and get some goosebumps by pondering over Padmanabhaswamy Temple’s current net worth.