Soaring Gold Prices Spell Doom For Goldsmiths In Telangana
Hyderabad, Mar 21 (Maxim News): With gold prices continuing to soar, goldsmiths across Telangana are apparently bearing the brunt of the unprecedented rise in the price of the yellow metal.
“We are unable to find jobs such as molding various ornaments of gold due to the steep increase in gold prices. People are now buying less quantity of gold than earlier for marriages and other social functions, affecting our livelihood,”
The goldsmiths generally take up jobs such as designing, crafting, repairing, and modifying jewelry and other decorative items using metals like gold, silver, and platinum. Their job requires intricate techniques and a keen eye for detail. They collect charges for performing the job from customers.
The goldsmiths reasoned that people were not approaching them to make gold ornaments due to the skyrocketing prices of gold. “People are buying less gold than earlier considering the rise in the prices. Consequently, goldsmiths are adversely affected. Lives of many artisans are being thrown out of the gear.” a senior goldsmith regretted.
Telangana currently accounts for nearly 50,000 goldsmiths even as the occupation is on the wane with the advent of modern technology in crafting jewelry.
The distressed goldsmiths urged the State government to provide job security to them by extending loans and training. They also want social security pensions on par with beedi workers and weavers. Lamenting that they were caught between survival and a vanishing occupation, they said the soaring gold prices had just added to their woes. (Maxim News)
More Stories…
-
SCR To Tighten Security At MMTS
![SCR To Tighten Security At MMTS]()
In the wake of the MMTS assault case, the South Central Railway (SCR) on Tuesday said that is has initiated additional measures to enhance security for passengers, especially women travelling in the city and suburban sections.
-
Lok Sabha Passed Finance Bill 2025
![Lok Sabha Passed Finance Bill 2025]()
The Lok Sabha passed the Finance Bill 2025 on Tuesday incorporating 35 government amendments as a key part of the process for the proposals of Union Budget 2025-26 to kick in.
-
More Than 83,668 Whatsapp Accounts Used For Digital Arrest Blocked: Home Ministry
![More Than 83,668 Whatsapp Accounts Used For Digital Arrest Blocked: Home Ministry]()
Delhi/Hyderabad, Mar 25 (Maxim News): The “Indian Cyber Crime Coordination Centre ” (14C) set up by the Ministry of Home Affairs has identified and blocked more than 83,668 WhatsApp accounts and 3,962 Skype IDs used for Digital Arrest, the Parliament was informed on Tuesday.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates
