28 July, 2021

Carat & Stick

To buy, postpone, or sell? Doubt grips pandemic-hit Indian gold buyers in the midst of the festival and marriage season.

Graphics by Vinay Dominic
Carat & Stick

Aah… the lure of gold! From kings to commoners, from ancient to modern times, gold has seduced us all, its glitter unfading, its power undiminishing throughout human history. Tales of our gold frenzy are unrelenting, and this seems to be still the case now as the world is perceived to be in the grip of yet another great global gold rush. But these are difficult times in a world forced indoors by a mystery virus. Aside some dings and dents, with the global economy in a tight squeeze, the lust for gold hasn’t diminished though.

For one, the high price of gold is unnerving . Prashant Jadhav, 30, a Mumbai-based professional, deferred his wedding by a few months to next year. Neither he nor his spouse can afford the ornaments for the occasion. A homemaker in Ranchi, Radha Munda, isn’t able to muster courage to buy a gold chain for the coming festive season.

Even the brave are cautious. Like Srinagar-based Nasreen, who plans to marry in April 2021. “I bought less than what I wanted to, but then the quantity was more than what my in-l­aws got...

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