Gold remains a key asset for preserving wealth and cultural heritage, particularly in uncertain economic times.
Recent global market volatility, largely driven by tariff sanctions and unpredictable trade policies introduced under US President Donald Trump has pushed gold prices to record highs in India and worldwide.
Despite the surge in gold prices, it continues to hold significant traditional value in South Asian communities, playing a central role in weddings and major celebrations. Families still invest in new jewellery or pass down cherished heirlooms, maintaining gold's cultural importance. Additionally, many in the community view gold as both a symbol of wealth and a smart investment, purchasing it with the intention of selling it later to gain value over time.
However, rising prices have also led to a surge in thefts. In Bradford alone, West Yorkshire Police recorded 58 burglaries involving Asian gold since July 1, 2024 a steep increase from just 18 in the same period last year reflecting growing concerns about home break-ins targeting these valuable items.
To protect against theft, experts recommend storing such belongings in a high-quality home safe or, for added security, using a safety deposit vault. These measures can significantly reduce the risk of loss and offer peace of mind during uncertain times.
Asian Voice spoke to several jewellery and vault businesses about the ongoing price hike and its impact on the South Asian community.
Soaring rates drive shift to smart investments
Pravin Pattni, Director of Minar Jewellers said, “The current geopolitical and economic uncertainties have propelled the price of gold to record highs, with an astonishing 1130% increase from January 2000 to January 2025—no other single asset has seen such remarkable growth. The South Asian community, with its deep cultural appreciation for gold, continues to invest in jewellery for weddings and celebrations. Meanwhile, older generations are selling off outdated designs to fund holidays or pass wealth to their families, often reinvesting in more practical forms like 24-carat coins and bars. Given gold’s surge in value, it’s wise to store unused jewellery in a safe deposit facility and ensure regularly worn pieces are properly insured. A professional valuation by an IRV-registered jeweller can help avoid being underinsured—what was worth £10,000 in 2000 could now be worth over £113,000. Additionally, with gold prices in India consistently higher than in the UK, travellers must also be aware of customs regulations—bringing jewellery over £500 into the UK requires declaration and VAT payment.”
Jayant Raniga, Director of PureJewels said, “Within the British Asian community, gold is far more than a precious metal — it is the embodiment of love, tradition, and blessings passed through generations. Even as gold prices remain high, the significance of gifting gold, especially for weddings, remains an unwavering tradition. We are seeing customers embrace a more mindful approach, selecting jewellery that carries deep meaning — creations that will not only shine on a wedding day but will be cherished daily and as heirlooms for generations to come. Gold is still a symbol of prosperity, resilience, and continuity — values that feel more important now than ever and fit well with our vision of 'Celebrating Journeys.'”
Invest in safety for your valuables
Sean Hoey, Managing Director of IBV International Vaults London said, “We are witnessing, as a result of rising global inflation in recent years and growing concerns about currency devaluation, more individuals being prompted to store tangible safe-haven assets in secure storage facilities. During these uncertain times, exacerbated by market volatility caused by recent US tariff policies, we are seeing unprecedented demand for secure gold bullion storage as investors seek to protect their wealth in physical form. As part of this shift in investment habits, driven also by factors like geopolitical tensions and sanctions, we’ve observed more cross-border wealth migration, with an increasing number of clients from South Asia—particularly India—choosing London as the location to securely store their physical assets. Despite growing concerns about rising crime rates and burglary in the capital, clients are turning to trusted sanctuaries that offer the highest levels of security and discretion to protect their wealth.”
West Midlands Police recommend that one of the best ways to protect valuables, such as gold, jewellery, and important documents, is by investing in a home safe. A fire-rated safe is strongly advised to protect items in the event of a fire.
For enhanced security, individuals may consider using a safety deposit box, storing their valuables outside the home to reduce the risks of theft. However, it’s important to consult with insurance providers to ensure sufficient coverage for items kept in a vault.
When choosing a home safe, it is crucial to select one accredited by Secured by Design (SBD), the police-backed initiative that promotes safer buildings and environments. The safe should be placed in a discreet, hard-to-reach location, away from common areas like bedrooms, and bolted to the floor or wall for added protection.
Additionally, homeowners should ensure all doors, windows, and porches are securely locked. Insurance policies may require specific door locks, such as 3-Star TS007 anti-snap cylinders, to ensure proper coverage, so it’s recommended to carefully review the policy for any such requirements.
Navigating rising jewellery costs
Gold has long held a central place in South Asian weddings, symbolising wealth, tradition, and blessings for the future. Many families in the UK continue to invest in gold, whether purchasing locally or travelling to countries like India for better value and traditional designs. Despite record-high gold prices, many brides are still choosing to include gold in their celebrations — either by buying new pieces or wearing heirloom jewellery. Asian Voice spoke to TV health expert and bride-to-be Thorrun Govind, who shared her personal take on incorporating meaningful gold and pearl pieces into her wedding.
Speaking about record-high gold prices and how they’ve influenced her wedding jewellery choices, Thorrun shared, “With gold prices at an all-time high, buying new gold pieces hasn’t really been a consideration for my wedding,” she said.
Instead, Thorrun is opting for a more personal and understated look. “I love pearls and plan to incorporate delicate pearl pieces into my look — I prefer a minimalist jewellery style. Some of my favourite brands include Claudia Bradby and Monica Vinader, which I’ll be mixing with other meaningful pieces.”
While gold will still feature in the celebrations, Thorrun is holding off on major purchases for now. “Gold will still be part of the celebrations, but I’ll likely revisit buying more after the wedding.” She also expressed that she doesn’t feel culturally pressured when it comes to wedding jewellery. “Wearing something my grandmother wore, for example, holds far more meaning for me.”
On the topic of where to source gold, whether from the UK or countries like India, Pakistan, or Bangladesh — she remains open but mindful. “I’m open to all options, but it’s important to start married life on the right foot. There’s no sense in going into financial difficulty over tradition.”
When asked what advice she’d give to other brides navigating gold purchases, Thorrun offered a practical tip: “Have open conversations and make sure you’re working with up-to-date pricing before making any decisions.”
In an interview with ‘Chatelaine’, writer Sadiya Ansari highlighted the deep connection between marriage and gold in South Asian cultures and religions, where gold serves both as a dowry and a form of financial security for a young wife. Anthropologist Nilika Mehrotra explained that in patrilineal inheritance systems, men inherit land while women inherit gold, as it was traditionally assumed that women would marry and not be given immovable property. She also stated that gold, being easily transportable and as liquid as cash, was considered an ideal asset and in addition to being passed down as inheritance or gifted during weddings, gold is also regarded as a solid investment. The interview further explained that from women like Ansari’s mother, who returns to Pakistan every few years, to women in fishing villages in southern India with limited income, many save to invest in gold as a means of building financial security.
