Ashima Lahiri will say her wedding vows in December wearing fake earrings, necklaces and bangles that cost a tenth of the price of gold, breaking a millennia-old Indian tradition that brides wear the precious metal.

In India, gold has gained 14 percent this year, reversing a 6 percent decline in the global spot rate, because a 20 percent slump in the Indian rupee against the dollar to a record low has driven up the cost of importing the metal.

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Also interesting is that Indian families collectively hold more gold than the US Fed. But with prices so high some families are melting their old jewelry to create something fashionable for the bride, whereas others are giving the family heirlooms as a gift but buying or renting fake jewelry for the wedding day to match the bride's dress.

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