MUMBAI (AFP) - Jewellers in the traditionally lucrative Indian gold market are struggling - even while the metal's value skyrockets - as coronavirus fears keep sales down, craftsmen at home and shops shuttered.. Read more at straitstimes.com.
MUMBAI - Jewellers in the traditionally lucrative Indian gold market are struggling - even while the metal's value skyrockets - as coronavirus fears keep sales down, craftsmen at home and shops shuttered.
"Seventy per cent of our artisans have left for their villages and manufacturing units are all closed," Mr Shah told Agence France-Presse. "Previously we wanted the wedding to be a grand affair and follow all Indian traditions, just like our parents," the Mumbai-based marketing manager told AFP. The twin blows of the lockdown and high prices meant customers did not empty their pockets even during the Akshaya Tritiya festival in April, considered a lucky time for Hindus to buy the metal.
"Initially, I was hesitant to use gold as collateral because these jewels are my family's legacy, but times are tough," the 39-year-old told AFP.
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