Gold-Silver Prices: Impact of rising gold and silver prices: Temples are also facing steep escalation in costs, how are they managing?
The rising prices of gold and silver have made decorations for religious ceremonies more expensive. In temples, idols of deities like Rama-Sita, Radha-Krishna, Balaji, Bhairuji, and others are typically adorned with gold and silver. Now, the cost of these ornaments has increased several times over, affecting both devotees and temple management.
Jewelers say that a roll of silver leaf, which previously cost 700-800 rupees, now costs 2800-2900 rupees. Since at least one roll is needed for decorating a single idol, the cost of decoration has risen to around 3000 rupees. In some larger temples, decorating with gold leaf can cost up to 1.25 lakh rupees. In even larger ceremonies, devotees often pool their resources to share the cost of the decorations.
The impact of the rising price of silver leaf is also being felt at sweet shops. According to local shopkeepers, puja materials that previously cost 50-60 rupees are now selling for 90-100 rupees. Additionally, some sweet shops have seen the price of silver leaf increase fourfold, leading to higher costs.
The rising prices of gold and silver have significantly increased the cost of decorations in temples. Devotees are now pooling resources to purchase ornaments collectively to reduce individual expenses.
fecting not only decorations but also sweets and puja materials, which have become significantly more expensive.
Solutions and Alternatives
Many temples have started adopting alternative decorative materials to control costs and reduce the financial burden on devotees.
Fall in prices
Meanwhile, gold prices in India have seen a significant drop in the last 10 days. In January 2026, gold reached its all-time high of Rs 1,78,850 per 10 grams, showing a surge of nearly 19%. However, this rally has now stalled, and prices have fallen by more than 12%. On February 8, the prices of 24-Carat, 22-Carat, and 18-Carat gold remained stable.
Currently, the price of 10 grams of gold is hovering around Rs 1.56 lakh. The market is now watching to see if gold will be able to cross the Rs 1.60 lakh mark next week. The forecast for gold futures on MCX next week suggests prices will range between Rs 1.39 lakh and Rs 1.62 lakh, indicating continued market volatility. Experts say that the strength of the dollar in the global market and signals regarding interest rates are putting pressure on gold prices. If this pressure eases, gold prices could rise again, but investors remain cautious for now.