The rise in silver prices has also put pressure on the bullion business.
Jagran correspondent, Varanasi. After gold, now the rising prices of silver have also increased the concern of the bullion market of Banaras. Silk anklets, anklets and toe rings, which were once the identity of the women of Kashi, have now almost disappeared from the markets. In major bullion areas like Godaulia, Chowk, Vishweshwarganj and Nadesar, there is silence at the shops due to less movement of customers.
If we look at the figures, the price of silver in the month of January was around Rs 80 to 90 thousand per kg. 15 days ago it increased to Rs 1.75 lakh per kg, while on Friday the price reached Rs 1.95 lakh and on Saturday it reached Rs 1.98 lakh per kg. During the same period last year, the price of silver was around Rs 75.5 thousand per kg. This wild rise has put silver out of reach of the common consumer.
Bullion trader Gokul Saraf says that inflation has had a direct impact on the middle and lower income groups. First gold went away and now silver is also on the same path. Women have started shying away from buying traditional jewelery like anklets, anklets and toe rings. Under compulsion, many customers are turning to artificial jewellery, jewelery made of brass or other metals.
According to Anikesh Gupta, a jeweler of Godaulia, and Ravi Verma of Nadesar, due to lack of stability in prices, neither the customers are able to make up their mind to buy nor the traders are able to do business properly. With prices changing two to three times a day, the pace of the market has slowed down. Due to expensive silver, the work of artisans has also been affected.
Women say that now light and designed jewelery is being given preference instead of heavy jewellery. Aarti Chauhan told that due to increase in prices the choice has to be changed. Shweta Pathak says that due to inflation it is becoming difficult to buy jewelery for festivals and weddings. Overall, the rise in silver in the bullion market of Kashi has affected tradition, choice and business.