It’s that time of the year when gold glitters brighter than ever, but this Dhanteras, shoppers are thinking twice before splurging. With gold prices soaring to Rs1,34,550 reaching records high, the season’s sparkle is being reimagined with smarter, more stylish choices. The obsession with heavy 22-karat jewellery has been replaced. Walk into any store selling jewellery today and you will notice the shift; shoppers are not skimping on their shine, they are simply opting for smarter shine this Deepavali. To decipher this changed perspective, CE talks to a industry expert, fashion influencer and beauty queen who are wearing the new mindful luxury.
For Manish Gulechha, co-founder of Kushal’s Fashion and Silver Jewellery, this shift has been both noticeable and heartening. “This festive season, we’re seeing a strong rise in interest for 92.5 premium silver jewellery which is BIS hallmarked. Consumers are drawn to its versatility, contemporary designs, and ability to make a stylish statement for both festive occasions and everyday wear. Buyers are looking for jewellery that balances versatility and value; it lets them celebrate in style without compromising on elegance,” he shares.
Manish notes that temple-inspired silver jewellery featuring god motifs continues to charm buyers, while minimalist pieces are becoming the go-to for modern women. When it comes to gifting, he points out a clear shift toward affordability with meaning. “This Dhanteras, people are choosing thoughtfully curated, premium silver jewellery as gifts — pieces that feel special yet remain within budget. Jewellery gifting is now about showing care and thoughtfulness, not just luxury,” adds Manish.
Kushal’s Celebration Jewellery Collection, crafted in antique finishes with kundan and zircon work, has seen remarkable sales this season. “They’re not too heavy, yet substantial enough for festive wear. And the best part? They strike the perfect balance between affordability and elegance,” he informs.
Meanwhile, Bharadwaj Pampatwar, CEO, Value Gold Pvt Ltd goes on to add, “Gold continues to be deeply emotional, but with prices soaring, buyers are opting for lighter, stylish pieces that are affordable and practical. Consumers are far more informed today, choosing smart buys over impulsive ones. Designers are using advanced craftsmanship, 3D casting, and innovative finishes to make 9K gold look every bit as elegant as higher karats.”
Beauty queen Dr Varsha Reddy, Mrs South India 2024 and Mrs Glam World 2025, admits that this year’s choices are all about being practical, without losing the sparkle.“Honestly, this year I’m keeping it practical but fun. With gold prices shooting up, I’m more drawn to pieces I can actually wear often and not just lock up. (smiles) I’ve been loving lighter gold jewellery and some beautiful silver ones. They have this easy, stylish vibe that works for both festive looks and normal days,” she says.
For Varsha, jewellery has to feel personal. “Luxury has changed, it’s not about big, flashy pieces anymore. It’s about something that feels elegant, wearable, and true to your vibe. Even simple, affordable jewellery can look luxurious when styled with confidence,” notes Varsha. Tradition, however, remains at the heart of her celebrations. “My mom does the Laxmi Puja and decorates the house with diyas and rangolis. We usually buy a small silver item for good luck, it’s something she’s done every year, and now it’s a tradition I love continuing,” she adds.
Fashion influencer Esha Rao has her own take on how to navigate the festive sparkle amid soaring gold prices. She shares, “I’d rather buy gold coins or biscuits or even invest in mutual funds or stocks. It’s all about being smart with your money. With gold prices soaring, I totally get why everyone’s looking at alternatives. I’ve styled plenty of silver and gold-plated ‘affordable luxury’ pieces myself; and let me tell you, they shine just as bright. You don’t need 24k to feel 24-karat fabulous!”
Her approach to styling blends modernity with heritage. “I tend to reserve yellow gold for traditional ensembles, while antique and rose gold finishes feel far more versatile. I love pairing heritage weaves with contemporary silhouettes and layering jewellery that can be worn multiple ways. Smart pieces that deconstruct into smaller elements are a game-changer,” she explains.
This Dhanteras, gold may be more expensive but the spirit of celebration is more abundant than ever. This is a season of style and sensible options, where heirlooms meet the new, and where jewellery both gold or silver continues to signal grace, confidence and timeless celebration.
