Monday, June 1, 2009

Indian brides replace traditional gold jewellery as prices rise


Ashima Lahiri will say her wedding vows in December wearing fake earrings, necklaces and bangles that cost a tenth of the price of gold, breaking a millennia-old Indian tradition that brides wear the precious metal "Gold is too hot now," says the 25-year-old fashion designer from Kolkata, eastern India, who'll spend $305 on her bridal set instead of $3263 for a real one."You can't touch it." Lahiri's not alone. Indian families, the world's biggest buyers of gold, are cancelling purchases before the peak wedding season because prices have touched a record high in India, putting traditional bridal sets out of reach.That's spurred sales of gold-plated, silver and brass gem-encrusted jewellery, designed to match the bride's wedding saris.

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