Wedding sarees feeling heat of hardening gold prices
Expensive gold implies expensive sarees too. But not every saree. Rather, a very special one known as Kanchipuram saree. We also know it by the name Kanjeevaram.
The increasing price of gold has left everyone astonished. Not only your jewellery is becoming expensive, but its impact is also reflecting on your sarees.
We all know about the connection of gold with jewellery. But do you know about the connection of gold with sarees?
Expensive gold implies expensive sarees too. But not every saree. Rather, a very special one known as Kanchipuram saree. We also know it by the name Kanjeevaram.
Women wear it with great enthusiasm during weddings, festivals, and on several occasions. Behind this pride lies the real gold.
With the rising prices of gold and silver, why have Kanchipuram saree become expensive?
The Kanchipuram saree is a type of silk saree, which is made in the Kanchipuram region of Tamil Nadu.
In various parts of the country, especially in South India, there is quite a craze for Kanchipuram silk sarees. These sarees are worn on special occasions like weddings and festivals.
But due to soaring gold prices, these have become quite expensive.
According to a report in the Times of India, the price of Kanchipuram silk saree has increased by up to 50 percent in the last eight months.
But why have the prices of sarees risen due to gold? These sarees are made of mulberry silk. These clothing materials are laced with gold and silver thread or zari.
According to the website of Kancheepuram Varamahalakshmi Silks, price of such sarees range from Rs 3,000 to Rs 4 lakh.
The prices are determined based on the silk, gold, and silver work in the sarees.
According to a report, on 1st October 2023, the price of 22-carat gold in Chennai was Rs 5,356 per gram, which increased to Rs 6,900 per gram on 21st May 2024. During this period, silver increased from Rs 75.5 per gram to Rs 101 per gram.
The prices of gold and silver have risen, causing an increase in the cost of Kanchipuram sarees. According to the report, the price of a Kanchipuram saree, which was Rs 70,000 at the end of October, has now increased to Rs 1.2 lakh.
In the international market, gold has reached a new level of $2,450 per ounce. This is due to geopolitical tensions in various parts of the world, including Israel-Iran and Russia-Ukraine conflicts.
Gold and silver are considered safe havens. Therefore, whenever there is any kind of turmoil at the global level, the demand for gold increases, leading to a rise in prices.
As a result of the rising prices of Kanchipuram sarees, women are forced to buy affordable sarees, which either do not have gold and silver work or have been used sparingly.
In the year 2005-2006, the Indian government bestowed a GI tag upon the Kanchipuram saree. India boasts various types of silk sarees, including those from Banaras and Patan. Despite this, the Kanchipuram saree holds a special place.
The beauty of the Kanchipuram saree makes it a favourite among women worldwide.
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