The sale of silver jewellery has witnessed increase with gold prices going beyond the purchasing power of an ordinary man. The deteriorating law and order situation in the city has forced people to by silver jewelleries, resulting in increased sale of these products.
Giving gold as a dowry is common in Pakistan but with its price reaching Rs 51,858 per 10 gram, people prefer to purchase gold-coated silver jewellery which costs about Rs 900 per 10 gram. According to jewellers, the demand of gold jewellery remained low even during the wedding season. The abnormal increase in the prices of gold has badly affected the gold business, but it has positively affected sliver jewellery business.
A jeweller said that the extraordinary rise in the prices of gold had kept people away from purchasing gold jewellery during the wedding season. “People now prefer other items as gifts instead of jewellery,” he added. He also said that the profession of gold lacquer or gold plating had turned into a lucrative business these days and a large number of people were involved in making gold-coated silver jewellery.