Bidding For The Lord’s Treasures

wealthymattersHere is some news of interest to all devotees of Lord Venkateswara and bullion lovers in general:

The Tirumala Tirupati Devasthanams is planning on e-auctioning the gold and silver ornaments from its hundis in collaboration with MSTC. It has already sorted the first lot of gold and silver jewellery for e-auction, got MMTC India to certify its purity, and has formed a committee of IAS and IPS officers to fix the floor price. The first e-auction is expected to rake in Rs 15 crore.

For each transaction, MSTC is to earn a service charge of 2-2.5% of sales.

If you are interested,watch the TTD and MSTC website.



Silver Investors Beware ! Patra and Gillet

As gold continues to hover round 21,000 Rupees per 10 grams and silver round 50,000 Rupees per kilogram there is a great deal of change taking place in the Indian jewellery market. The following article which appeared in the ‘Times of India’ is a must read for anyone looking to invest in silver jewellery and artifacts.

Now, silver is worth its weight in gold and more

24 Feb, 2011, 0854 hrs IST, Meenakshi Sinha, TNN

wealthymatters.comNEW DELHI: For generations, silver jewellery has been a source of enthrallment for millions of families across India. The exquisite craftwork of an anklet, the sheer weight of a beautiful baazuband (ornate upper arm amulet) — the metal has been a source of pleasure in every way. Its versatility and durability has only added to its allure. While gold has always been the preferred metal for weddings , the cheaper silver has offered more opportunities to indulge.

But now with the sky-rocketing of silver prices, customers are being forced to make adjustments. The traditional heavy silver jewellery is giving way to lightweight varieties. Imitation metals too are making their way in.

Sachin Aggarwal of Mohit Gems and Jewellers, Sector 27, Noida says that the demand for heavy items has gone down.“Silver gift items like statues of gods, bridal jewellery like anklets , maang tika, traditional key rings for household keys or sindoor dani (vermillion container) have gone lightweight. Most show pieces like dolphins or photo frames for gods have now been reduced to being designed in a thin layer called patra,” he says. Read more of this post

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