Display boards had enough as gold prices soar past Rs 10000

PARAVUR: With gold prices soaring every day, the display boards in many small jewellery shops crashed. The display boards are set up based on the price of one gram of gold. These boards can only display up to four digits per gram. With the price per gram crossing 9,999 and reaching five digits, many jewellers turned off their display boards.

On September 10, the price of a gram crossed Rs 10,000. On Saturday, the cost reached Rs. 10,585 per gram. Most of the display boards are made in China. The owners will have to wait for new display boards to arrive so as to enter the new prices and brighten up their shops with the attractive illumination. A display board costs around Rs 3000.

Equipment related to the gold trade is mostly found in Thrissur. The five-digit boards have not yet arrived at the establishments here, and thousands of jewellers have placed orders for the new boards, said T.V. Antony, owner of Pavees Jewellery in Paravur.

“When the price of gold crossed Rs. 10,000 per gram, it became impossible for small jewellers to display the price. Many shops still face this problem.” Said Adv.S. Abdul Nasser, State General Secretary, Gold and Silver Merchants Association.