Falling gold prices pace up jewellery business

Downward trend in gold price for almost last six months increased its buyers especially for marriages which was earlier shifted towards artificial jewellery.

Jewellery which is an essential part for adoring brides in our society touched its peak more than Rs 63,000 per tola, after which a rapid decline observed in the price of the metal and decreased to almost Rs 15,000 with a little fluctuation.

The high rates of gold left no option for people to buy artificial jewellery or gold plated ornaments especially for the functions of Barat and Walima not only for brides but also other female members of the family.

The welcoming trend of decreasing gold prices revived the fashion of wearing gold jewellery at functions.

Asma Sheraz, a house wife sharing her remarks, said, “I am so fond of gold but could not afford it due to its prices. Now I again started searching for latest design gold ornaments which are low weight and can be easily used at family functions.”

“It’s a kind of saving. I have three daughter and it is a common practice that mothers start collecting things for them from their childhood for their marriages,” she commented.

Bushra, a bank employee, said, “I used to buy gold coins and save it for future so that a handsome amount should be in my hand when I need it.” She added that now the gold market is in favour of customers so it will be good investment to buy the precious metal and sell it later if its price goes up, offering a good profit for our saved amount.

Zahid Ramzan, a gold smith at Super Market said, “Few months back gold market was so down that they rarely got just one or two big orders in a month but now we have so many orders.”

Now women comes to buy rings, earrings, pendants, chains, bracelets in routine and the number of orders for brides has also shown visible surge.

The market is yet unpredictable, he said adding, it is hard to say that gold price will go up or down in near future as it is going constant or with a little upward or downward trend.