A Not-So-Golden Paradox

One is always surprised at the preoccupation with gold, the infatuation, craze and passion for the yellow metal in India, and elsewhere. The WGC (goldDOTorg. Ha Ha.) happily encourages any and all kinds of marketing gimmicks, including the kind about which Raji ranted in blessed-if-you-buy-jewellery-day.
Staying in Kerala, you simply cannot avoid lengthy TV commercials and full-page newspaper ads by gold 'supermarkets' (how vulgar that sounds!). Nor can you miss seeing driver-distracting, really loud hoardings and flex boards. Since women model the trinkets, it seems as though the model, the ad agency and the advertiser are happy to cover much more of the skin with metal than with cloth. You will end up wondering if metal looks best without other wear around hindering the view.
So there is demand. And there are sales. Implies that people have money to acquire that metal.
The number of gold loan sources is also up. Both banks and NBFC's. One implication is that gold loan is a lucrative business, with people pledging gold and more gold. One NBFC in this business of lending on mortgaged gold, claims - "Financial services and packages were always only for a privileged lot, but....wished it the other way and made it its mission to reach financial services and packages to the common man in the most simplified and beneficial manner, so that they also are part of the main stream."
The theft of gold is up too. In small and large amounts. From houses as well as - directly - from jewellery outlets.
Is there a nexus? God forbid!
And is Greed the common factor that drives all the three "businesses"?
PS: If you have been attending weddings frequently in this Indian state, this might have occurred to you too -
  • A bedecked bride is a walking ad for the local wedding centre.
  • If you have seen one such b.b., you have seen them all! (Not joking. A standard red brocade sari, several neckpieces that hang in increasing arcs, metres of stringed jasmine flowers arranged over an artificially lengthened plait). 
  • The groom of the day completes the picture in an off-white shirt and a dhoti.
  • The photographers are the day's designated film directors.

Comments

  1. Happy Kitten08 May, 2012

    nd one wished again and again that with the rise in gold price the lustre of this metal will diminish.. but alas.. nothing like that!
    I read an article recently which rightly stated the predicament that most gold lovers find themselves to be. Everyone has gold but they shall never use it to improve their living condition especially those who are in need of it. Gold is only sold during extreme needs, else it sits idly in bank lockers and does no good to the owner. It is the most ridiculous situation. As for dowry, my frd recently told me that in his family 50 tola is the set price. It will not change even if the price sky rockets!

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