Rising gold prices have sharply reduced buying interest among common people, creating serious pressure on the jewellery trade in Bhimavaram town of West Godavari district. The sudden price surge has forced many customers to delay purchases, directly affecting traders and skilled workers who depend on daily sales.
Gold Rates Cross ₹1.80 Lakh Mark
Last week, the price of one tola of gold crossed the ₹1.80 lakh mark, surprising buyers across the region. Although prices eased slightly later, frequent fluctuations have kept the market unstable. Because of this uncertainty, customers are avoiding major purchases.
Jewellery Shops See Sharp Drop in Footfall
Bhimavaram, known for its strong gold and silver jewellery business, is facing one of its toughest periods in recent years. Shops that usually remain busy now see fewer customers. Many families planning weddings or ceremonies have postponed ornament purchases due to high prices.
Goldsmiths and Workers Feel the Heat
The slowdown has severely affected goldsmiths and jewellery makers. Orders for new ornaments have dropped sharply. As a result, many skilled workers are getting limited work and reduced income. Several artisans say their daily workload has fallen by more than half.
Traders Struggle With Price Fluctuations
Jewellery traders say unstable gold prices are creating confusion in the market. Constant ups and downs make it difficult to fix stable rates. This situation further discourages buyers. To attract customers, some shops are offering exchange schemes and lightweight jewellery options.
Silver Sales Also Take a Hit
Silver jewellery sales have also weakened, as buyers prefer to wait for price stability. Business associations fear that continued uncertainty could hurt small jewellery units in the coming months.
Despite a minor correction from peak levels, gold prices remain high. Until rates stabilise and customer confidence improves, the jewellery market in Bhimavaram is likely to stay under pressure.
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