Post unlock, jewellers see above average sales!

Hyderabad: With the restrictions of lockdown being totally eased and fall in the prices of Gold, huge crowds are thronging the shops in Secunderabad to buy the yellow metal. The customers had suspended their investment in any metal due to lockdown and also rise in metal prices. Now as the prices of the metals have dropped, they are quickly purchasing the articles for which they had saved.

This correspondent had to wait for 15 minutes as Prakash Jain, Owner of Pooja Jewellers, who is in market for 32 years now, was continuously writing bills of his customers who were in queue, as he spoke to Bizz Buzz. He said both gold and silver sales are above average as the State is unlocked now, and pointed out that during the second lockdown, his sales were not affected. The only challenge was to adjust with the timings. "Post unlock, the sales is above average; all types of ornaments are being sold. We are also into gold jewellery making, Prakash said. "We have received lot of silver and gold articles as deposits against the money lent to customers as part of the gold loan scheme; we have customers buying items through the instalment scheme."

All the jewellery shops are packed with customers buying for various occasions. The rows of the seats seem to be filled with at least four or five families in shops. The families seem to choose from small items such as finger rings, earrings, and daily wear chains in gold and silver for occasions such as house warming. Those preferring to spend more on such ceremonies go for costlier articles, such as silver glasses, anklets for both babies and elders.

One of the customers Sujatha says, "I was eagerly waiting for the price to come down to buy gold from my savings. Our employer paid us only half the salary, hence it was hard to save more but from whatever I have saved I had to invest in gold."

Pavan Joshi from Pavan Jewellers said, "Customers had to wait long to visit gold shops, we lost some of our sales because the State was under lockdown during the festival seasons and the marriage season, most important being Akshaya Tritiya when people come in hordes to buy metal articles. Our sales are back for now. I would consider the sales figures as average because most of the employees haven't been paid full salary and the other reason is customers are investing in health nowadays. However, there is some sales of small ornaments like gold chains, tops and anklets.