Gold price surge drives up cost of convocation medals
Litha.Achari@timesofindia.com 31.01.2026
Indore : A sharp surge in gold and silver prices, and the subsequent increase in costs of academic medals, has complicated preparations at Devi Ahilya Vishwavidyalaya for its upcoming convocation in Indore, Madhya Pradesh. This year, the university will award 206 gold medals and 22 silver medals. However, procurement became a challenge as no agency responded to the first tender, forcing the university to issue a fresh one.
During the 2024 convocation, the university had procured gold medals at ₹2,500 each and silver medals at ₹2,000. Present estimates place the cost of a gold medal at nearly ₹15,000 and a silver medal above ₹7,500 — an increase of about 500% and 275% respectively.
Officials attributed the steep rise to sustained increases in bullion prices since Sept 2024, along with higher making charges, polishing cost, and GST. Each gold medal is made on a 20gm silver base coated with about 400mg of 24-carat gold, not solid gold.
Even so, higher metal prices have sharply pushed up manufacturing costs. “The medals will be ready before the ceremony and the university will not compromise on design, weight, or quality. The tenders will be opened in a day or two and the university is ready to bear the added cost as per present gold and silver prices,” DAVV registrar Prajwal Khare told TOI. At the 2024 convocation, President Droupadi Murmu conferred medals and degrees on toppers.
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