By our Staff Reporter
GUWAHATI, Sept 9: With the gold prices touching an all time high of Rs 31,450 per 10 gram in the bullion market following strong global cues, the Indian middle class is the worst hit.
For many in Guwahati city, the news of the spurt in gold prices was like piercing a dagger into their hearts.
Nira Saikia, a resident of Rukminigaon and a mother of two grown-up girls, was dismayed when she was asked about the price of gold.
“I need to purchase at least 50 grams of gold for each of my daughters to give them at the time of their marriage. At the current rate of gold prices, we cannot even think about it,” she said.
According to Nimai Das, owner of Bimala Jewellers in Zoo Road Tinali, the rise in gold prices is considered to stay for sometime. “We usually witness such rise in gold prices during festival seasons. The prises are considered to soar further in the coming days. Indications are that it might touch Rs 40,000 per 10 grams of gold.”
He further said that with the rise in gold prices, jewellers have also raised the making charge. While it cost Rs 200 to Rs 250 per 1 gram of gold earlier, the same will now cost Rs 380 per gram. Although the sale of gold jewelleries have slowed down a little, indications are that the market will swing back to normal in a few days with the arrival of the marriage season.
Pradyut Kalita of the Pokhraj Jewellers in Janeshguri area said that the price of gold has been rising since the past three years. “Three years back, the price of 10 grams of gold was Rs 11,000 and today it has risen to Rs 32,450. This trend will continue,” he said adding that chances of reduction of gold prices is very slim.
Meanwhile, Hiranya Baruah, a resident of Beltola said, “No matter what the price is, we have to perform the marriage of our daughters. Even if it means taking loans from others, we have to purchase gold for their weddings.” However, the usual rush for gold jewellers before the arrival of the festive season is missing these days. An employee of L Gopal Jewellers in Christian Basti, said, “There is still time for the festive season, We hope that the present slump in the purchase of gold ornaments would soon turn for the better.” The constantly rising price of gold have somewhat affected the market sales. As per market values, the middle class people of India have been turned from buyers to sellers due to the rapid increase in the price of gold in the past couple of years.