PM Modi Wants Indians To Avoid Buying Gold For A Year, But Why Do Weddings Focus On This Yellow Metal?

On May 10, 2026, during a public address in Hyderabad, Prime Minister Narendra Modi issued a striking appeal to the nation: Stop buying gold for one year.

Framing the request as a “national responsibility” amid global economic turbulence and a West Asia crisis that has sent oil prices soaring, the PM’s message was clear, reducing gold imports is essential to protecting India’s foreign exchange reserves. However, for a country where a wedding is effectively incomplete without the glint of gold jewellery, this “resolution of restraint” challenges one of India’s deepest cultural pillars.

Here is why gold is considered to be an auspicious purchase during weddings:

In Indian philosophy, gold is more than a metal; it is a sacred element. Associated with

Goddess Lakshmi (the deity of wealth) and the Sun God, gold is believed to bring the “glow of divinity” into the couple’s new life. Wearing it during rituals is thought to ward off negativity and bless the union with prosperity.

Historically, gold served a vital functional purpose. Under the concept of Streedhan, which includes jewellery gifted to a bride, remains her absolute property. In a time when women had limited inheritance rights, these gold ornaments were (and for many still are) a form of financial independence and a “liquid asset” she can rely on in times of crisis.

Unlike other investments, gold does not tarnish, rust, or lose its luster over centuries. This physical resilience is seen as a metaphor for the marriage itself. Passing down a grandmother’s gold haar (necklace) to a new bride is an act of continuity, weaving the family’s heritage into the fabric of the new couple’s future.

For the Indian middle class, gold is also really about “emotional economics.” It is an asset that has always appreciated. This is often why families start a “gold plan” the moment a child is born, buying small amounts during auspicious days like Akshaya Tritiya or Dhanteras. By the time the wedding arrives, the gold represents decades of parental sacrifice and love.

Why Is PM Modi Asking You Not To Buy Gold This Wedding Season?

While the cultural ties are deep, the economic reality of 2026 is stark.

India is one of the world’s largest importers of gold. In FY 26, India imported nearly $72 billion worth of gold, which was a record high. By asking for a one-year pause, the PM aims to save billions in foreign exchange that is currently needed to cushion the country against rising crude oil prices (which have surged past $100 per barrel). Much like his appeal during the COVID-19 pandemic, the PM is framing this as a collective sacrifice which is needed to help the nation navigate supply chain disruptions and global inflation.