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  • Category: Miscellaneous

    Gold jewellery shops expanding with many branches in Tamil Nadu

    When the country was talking about slow economy and no employment, the Tamil Nadu state is witnessing opening of many branded jewel shops across the state. Be it Lalithaas, Thanga Mayil, Sree Kumaran and many other big leaders in gold jewel are in the expansion spree and one particular shop has opened their 49th branch recently. That means Gold business seems to be more fetching and even Pothys which are in cloth business has entered gold business Swarnamahal. So when buying power in people is abundant, gold business goes unabated.
  • #745506
    There is a good demand of jewellery in our country especially during the festival season. Historically gold prices have been rising steadily and it makes sense to invest in gold as an investment also. Buying jewellery is not exactly an investment because it is done for the cosmetic purposes and to some extent to meet the demands of the fashion today.
    The interesting thing about gold jewellery is that you can always exchange your old gold for new by allowing the shopkeeper to deduct 10 to 15% while buying your jewellery before selling you the new one. That is actually the margin of profit in the gold business. This profit margin is encouraging the shopkeepers to open more and more shops to meet the demand of jewellery buyers not only in Tamil Nadu but in some other parts of the country also.

    Knowledge is power.

  • #745509
    Yes, the gold business is growing day by day because many people are investing in gold thinking that there is less risk. The general public is afraid to invest in mutual funds or stock markets, and they prefer to deposit in banks. But now the bank's interest rate has come down, they are preferring to invest in gold. On the other hand, our country has an average demand for gold for various social events throughout the year. For all these reasons, as the demand for gold is increasing, the price also increasing day by day. And various businesses organisation in the field are trying to increase the scope of their supply by expanding their organisation.
    Believe in the existence of God the superpower.

  • #745510
    The ultra rich gold jewellers might open their shops to expand their business with the wealth they already have now.. But the question is about the common man, especially the middle class people who have exhausted their savings during the Covid-19. They need to struggle hard to make money to buy jewellery
    No life without Sun

  • #745514
    For the affluent people, investing in the Gold might pick up in the upcoming time since the interest rate of the banks has dropped substantially and savings through the banks are not attractive enough. Though mutual funds are promising a hefty returns at the present juncture but still then it is risky venture where there is the chances of erosion of money.
    People of Tamil Nadu have realised the importance of accumulation of Gold which would retain its values not less than the present one and their investments in such an item would always be a profitable proposition.

  • #745515
    That is true. The Gold business is evergreen in India. Many of the people go for gold purchase as they feel that is a good way of investment. If you see the rush in Lalitha Jewellers, Hyderabad main branch you will understand this. The number of people visiting these shops is very high. The Indian ladies are fond of jewellery and they want to have as many as possible. In addition to that, the rate of gold is increasing and hence people are thinking of but as much gold as possible so that the value will increase many times.
    These days people are having many and not worried much about the expenses. Definitely, their purchasing capacities are increased. So we are seeing a positive surge in sales of almost all items all over the country. This is making then business people think of gold business than other businesses.
    Not only in Tamilnadu but also in many other states also we are finding that there is an increase in the number of gold outlets. Earlier in Hyderabad, we used to have all gold shops in Secunderabad and Hyderabad only. But we are finding the branches in almost all important areas of the city also.

    always confident

  • #745521
    The author is right, when we talk about our country we can see that many people want to invest in gold, whether they buy jewelry or in other forms. Gold jewelry is always an important and mandatory Shagun, in India like marriage, baby birth celebration, gifts on other occasions. When there is a huge demand for any product by a large number of people of a country then it is quite obvious to grow the business like jewelry. This is also true that each and every jeweler is not getting as much as some famous and rich jewelers find in their business but still, there is a good scope in this business.

  • #745534
    Investing on real estates has become distant dream and hence going for gold which can be redeemed at night.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #745542
    Yesterday i.e. Thursday 28 was the time of "Pushya Nakshatra" and it is believed that people should buy more gold in this Nakshatra. Yesterday in my city Sarafa Bazaar, which is famous for its jeweler's shop, was crowded with a lot of people. And in every shop people were buying gold or silver. Such special festivals and Nakshatras or Muhurtas also give an opportunity to increase the purchase of gold and there is no shortage of it in the country, so this business will continue to grow forever.

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