Following the relaxation of Covid-19 curbs, people in desperate need of money have been rushing to the bullion market to sell their jewellery in Madhya Pradesh's Indore, traders claimed on Wednesday. The number of persons wanting to sell their valuables exceeds those who want to purchase new jewellery, they said.
“The local administration has allowed the bullion market to operate since Monday. However, we are observing that of every 100 customers, 60 are those who came to shops to sell their jewellery,” said Avinash Shastri, secretary of Sona Jawahrat Vyapari Association. Most of these customers are from middle and lower-middle class backgrounds, who were in urgent need to money, because they had either exhausted their savings in Covid-19 treatment, had lost their jobs due to the lockdown or their salaries were slashed amid the crisis, he said.
The trade is gradually picking up pace in Sarafa Bazar, which has around 1,000 shops, after the restrictions were eased, Shastri said. Indore district has recorded over 1.52 lakh Covid-19 cases, including 1,374 casualties.