Kancheepuram silk saree prices surge by 50% due to rising gold costs

Consumers wanting to purchase Kancheepuram silk saris have been hit by a significant price increase, attributed to the soaring prices of gold on the international market. Over the past eight months, the price of Kancheepuram silk saris has risen by up to 50%, prompting cost-conscious consumers to explore alternatives. Many are opting for saris with reduced gold and silver content or those completely devoid of these valuable metals.

During the ongoing wedding season, RmKV, a prominent retail textile chain known for its expertise in Kancheepuram silk saris, is experiencing a 20% decline in sales of this particular product, attributed to the surge in prices. K Sivakumar, the managing director of RmKV, said several customers come with a specific budget and prefer (Kancheepuram) silk saris with less gold and silver content, while some reduce the number of saris to suit their budget.

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