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Karwa Chauth brings brisk biz for gold, silver market in Lucknow
Tanya Rastogi, director of the Indian Bullions and Jewellers Association (IBJA) and owner of a city-based store, said customers were increasingly opting for pure gold instead of stone- or bead-studded designs.
Even as 24-carat gold (10 grams) touched ₹1.27 lakh and 1 kg silver (999) reached ₹1.68 lakh on Thursday, jewellers in Lucknow reported brisk business ahead of Karwa Chauth on Friday. Lightweight and dainty jewellery emerged as the most sought-after items, while silver jewellery and Karwas (a pot used in the Karwa Chauth) outperformed gold.
Tanya Rastogi, director of the Indian Bullions and Jewellers Association (IBJA) and owner of a city-based store, said customers were increasingly opting for pure gold instead of stone- or bead-studded designs.
“With gold and silver prices rising in recent days, people are buying precious metals, hoping they will increase further. Many are compromising on quantity but still prefer pure gold or silver. Smaller items like bangles, rings, and bracelets were in demand, though temple jewellery retained some popularity,” Rastogi said. She added that the price surge reflects international market trends rather than festive demand.
Adesh Jain, a jeweller in Chowk Sarafa market, said a silver Karwa worth ₹5.13 lakh was among the high-value purchases. “Both silver and gold Karwas were popular. Buyers stuck to their budgets but chose lighter designs. Turkish and Italian jewellery also saw strong demand,” he said. Jain added that gold and silver prices have steadily increased over the past five years.
Vinod Maheshwari, UP convenor of the All India Jewellers and Goldsmith Federation, noted that stylish, lightweight jewellery and silver karwas drove sales. “Customer numbers were moderate, but rising prices helped the market perform well,” he said.
