Suffer losses amid soaring prices: Goldsmiths

Taking off gold costs have antagonistically influenced goldsmiths and gem retailer proprietors in Kangra area.

Ajay Verma, a gem specialist, said the gold cost was far from the basic man. The cost of 10 gm was Rs 54,000 today. “Here, individuals spend just between Rs 1 lakh and Rs 2 lakh on gems during the wedding of their youngsters and, in this way, they are presently more keen on purchasing silver adornments.”

He said 300 goldsmiths, the vast majority of them from West Bengal, used to work in Kangra. In any case, a significant number of them had now come back to their local towns and taken up horticulture.

Ajay Verma said gem dealers were not getting crude metal from the market. The individuals who had it were selling the equivalent at significant expenses. In spots, for example, Kangra, individuals regularly provided orders for adornments to goldsmiths. The gold rate was fixed according to the one influencing that day. Because of the instability of the circumstance and a sharp ascent in gold costs, goldsmiths were acquiring misfortunes, he said.

He said individuals were additionally confronting issues in selling their old adornments. Smash Kumar Sharma, an inhabitant of Dharamsala, said most gem specialists were declining to buy old gems.

Goldsmiths said they were not tolerating old gems because of severe standards executed by law requirement organizations. “For the most part, individuals don’t have papers or bill of the old adornments. We can’t buy without these,” said a goldsmith.