As gold zooms, jewellers innovate

LUDHIANA: It's that time of the year again when all that glitters is invariably gold. As the sale of the gold picks up due to festive season despite its skyrocketing prices it has not lost its charm among people though definitely the quantum has come down.
While on Wednesday the gold nudged the Rs 19,400-point, which is the highest for the 10 grams in last few months, the jewellers predicted prices would climb in coming days.
Whether there are weddings or festive season, gold is a must, said Phushprai Sandhu, a senior official at Kirti Lal Jewellers. "Over a passage of time due to the increase in gold prices, the trend has changed a lot like earlier the chain sets along with the pendants were available between Rs 15,000 to Rs 18,000 but now only for Rs 10,000 people are left with the option of purchasing only pendants or rings,"he said.
While not stopping to buy the precious asset, people had only reduced its quantity.
Echoing a similar view, Raman, an employee at Sant Mangat Ram and Sons, said that after the price rise the jewellers had redesigned old sets that were used earlier. She added that the only difference that he had observed for the past six years was that earlier people used to go for pure gold but now with the increased prices, the weight of the jewellery had come down. Earlier, for Rs 10,000, one could buy chain sets but now only bracelets or rings were available. Another employee said on Thursday the prices had come down but the effect was negligible. He added that with the festive season and wedding kicking off, the prices were going to rule.
"My marriage has been fixed next month so one has to purchase gold at whatever the price," said Mandeep Samra, a city resident.