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Clothes, gold suffer post Mumbai blasts

02
Aug '06
Post 7/11 has seen decline in the sectors like clothes and precious metals for different reasons. While the bomb blast has turned cloth merchants away from the markets of Mumbai, the unstable international prices of gold have kept the buyers on tender hooks.

Terrorist activities have forced garment traders to look out for other centers like Kolkata and Gujarat for their business.

Meanwhile, the bullion traders are in trouble as well with the losses they are realizing in the business due to fluctuating market situation.

One jewellery market dealer said that the customers are hard to convince with prices remaining unstable. Unstable precious metal prices have lowered the sale of gold ornaments with dealers fearing that the sale may not go up even during the festival season of Diwali.


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