Soaring gold prices spell doom for goldsmiths in Telangana

"The sharp rise in gold prices has made it difficult for us to find work, such as molding gold ornaments. People are purchasing smaller quantities of gold for weddings and other social events compared to before, which is impacting our livelihood," said Ramesh Mutthoju, president of the Mancherial District Goldsmiths Welfare Association, in a statement to Telangana Today.

Adilabad: 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 moulding various ornaments of gold due to the steep increase in gold prices. People are now buying less quantity of the gold than earlier for marriages and other social functions, affecting our livelihood,” Ramesh Mutthoju, president of the Mancherial District Goldsmiths Welfare Association told ‘Telangana Today.’

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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 for making gold ornaments due to the skyrocketing prices of gold. “People are buying lesser 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.

In Mancherial district alone, 268 goldsmiths eke out a living by depending on the traditional occupation. Around 2,000 goldsmiths are said to be working in erstwhile Adilabad district. 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.