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Hyd jewellers look for innovative designs
The last week of 2015 witnessed a marginal slide in the precious metals. The weak to moderate global cues following virtually an eventless period resulted in to narrow movements of gold and silver. Still the big players are busy in taking the stock of pros and cons in the aftermath of interest rates revision by the Fed Reserve.
Hyderabad: The last week of 2015 witnessed a marginal slide in the precious metals. The weak to moderate global cues following virtually an eventless period resulted in to narrow movements of gold and silver. Still the big players are busy in taking the stock of pros and cons in the aftermath of interest rates revision by the Fed Reserve.
Meanwhile, the sentiment in local markets remained largely unchanged. The traders were busy preparing inventory for jewellery. Every year new designs and patterns are introduced by the innovative jewellers. This is the right time to look for such new innovations from the jewelry designers.
For the next couple of months jewellery makers would be extremely busy in churning out new decorative pieces as per indents from the traders.
However, in this world of glam and glitter one aspect is often ignored and it is the interests of the jewellery designers and makers. While a chunk of the profit is cornered by the traders, poor designers, patent makers and jewellery makers are left high and dry with a miserably low remuneration.
While standard gold (24 carats) declined by Rs 210 at 25,370 (per 10 gms) silver (0.999) declined by Rs 1,000 at the closing price of Rs 33,300 (per kg). Ornamental gold too, followed suit and was quoted in the range of Rs 24,760-24,860 (per 10 gms) on the closing day.
The principal commodity markets in the twin-cities revealed from moderate to strong sentiment. The localized markets have recorded the below average business as the customers were mostly cash-strapped in the last week of the month. Further, on-line activity is also picking up gradually which acts as the main competing factor to the traditional retail outlets.
During the week wheat, rice, maize and Bajra moved up by 3 per cent to 5 per cent while jowar, raagi, coriander and turmeric ruled at lower levels in the range of 4 per cent to 7 per cent. Chilies, tamarind, ginger, garlic and jaggery remained unchanged.
Dr HC Upadhyay