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Gold right now is at an all-time high, but it looks like that in Tamil Nadu there is no effect of the high rates. Tamil Nadu and its neighboring states have been crazy about purchases of Gold both from a fashion as well as an investment perspective. It was anticipated that the high gold rate would bring a slump in the purchase trend. On the contrary, it looks like the traditional affinity towards the precious yellow metal is unputdownable.
“In a gold purchase, trust is crucial. Our buyers trust our tradition and quality and that helps us in a slow market as well”, says Kowshik from CPL Bhoopalam Jewellery.
Tamil people have historically been connoisseurs of fine golden jewelry, which has a history predating the Sangam period in the Indian subcontinent. Ancient Tamil literature lists out the different types of jewelry worn by women historically from head to toe.
Will gold demand ever diminish in India? “I don’t think so, not anytime soon”, Kowshik adds while cracking up in jestful laughter and further says, “Moreover, no other asset class serves both investment and fashion purposes”.
That is absolutely true, the satisfaction of purchasing gold is irreplaceable. And it looks like the craze of Gold in Tamil Nadu is here to stay.
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