According to the President of the Coimbatore Gold Jewellers' Association, Muthu Venkatram, gold jewellery sales will continue to be good till March 15, with the advent of the auspicious month of 'Thai' which could revive the livelihood of workers in the industry.
Coimbatore: The industrial city of Coimbatore excels globally in the production of gold jewellery. There are 3,000 people who invest and trade, 10,000 manufacturers of spare parts, and 45,000 people in the workshop industry that buy and make jewellery.
In Coimbatore district, one lakh people have been directly and indirectly employed in this industry. With gold prices continuing to rise, the gold jewellery industry in Coimbatore was in a shambles during the month of Margazhi.
But reportedly people have started showing more interest in buying gold jewellery with the advent of the month of 'Thai' with various auspicious events including marriages being scheduled.
Muthu Venkatram, President of the Coimbatore Gold Jewellers' Association said, "Even as the price of gold continues to rise, auspicious things have begun to happen more as the month of Thai is born.
Despite the increase in prices, people are showing interest in buying gold jewellery.
In Coimbatore, gold jewellery weighing 200 kg is usually traded every day but at present, 50 percent or 100 kg of gold jewellery business takes place every day.
Gold jewellery sales will continue to be good till March 15. The price of gold is likely to come down in the coming days.
I am very happy that the industry, which has been very sluggish for the past three months, has been revived again from the month of Thai. It is an opportunity to save the livelihood of the workers."
In Coimbatore district, one lakh people have been directly and indirectly employed in this industry. With gold prices continuing to rise, the gold jewellery industry in Coimbatore was in a shambles during the month of Margazhi.
But reportedly people have started showing more interest in buying gold jewellery with the advent of the month of 'Thai' with various auspicious events including marriages being scheduled.
Muthu Venkatram, President of the Coimbatore Gold Jewellers' Association said, "Even as the price of gold continues to rise, auspicious things have begun to happen more as the month of Thai is born.
Despite the increase in prices, people are showing interest in buying gold jewellery.
In Coimbatore, gold jewellery weighing 200 kg is usually traded every day but at present, 50 percent or 100 kg of gold jewellery business takes place every day.
Gold jewellery sales will continue to be good till March 15. The price of gold is likely to come down in the coming days.
I am very happy that the industry, which has been very sluggish for the past three months, has been revived again from the month of Thai. It is an opportunity to save the livelihood of the workers."