August 16, 2020

Bling no longer king in India as gold loses its shine

Mumbai (AFP) – Jewellers in the traditionally lucrative Indian gold market are struggling — even while the metal’s value skyrockets — as coronavirus fears keep sales down, craftsmen at home and shops shuttered.Months after India lifted its strict lockdown, the country’s biggest gold market Zaveri Bazaar remains desolate, with most stores closed and no customers in sight.”We have been running this shop for the last 40 years and I have never seen the business hit such lows,” said 75-year-old Madhubhai Shah, one of only a handful of jewellers who decided to reopen.The Mumbai market was hit hard…


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