Dr. Paul Ratnasamy, the distinguished scientist, headed the National Chemical Laboratory, Pune. Once over dinner at my house, he narrated an interesting experience: His daughter is a specialist in gold and was then working in Dubai. When her parents celebrated the silver jubilee of their wedding, she analysed the gold content in her dad’s wedding ring and said that he had been taken for a ride by his father-in-law: the ring was not of the standard 22 carats but was much less! The brilliant scientist was indeed a babe in the wood as regards jewellery as most of us are!
Of course, he is in great company with multitudes. When Titan’s Tanishq opened its first jewellery retail outlet in Chennai in 1996, it installed a Karatmeter and opened the facility for visitors to test the purity of the gold in their jewellery. I remember the stampede of women keen to know the purity of their ornaments. In the case of many, there was great disappointment over the severe short-changing.
There is a well-known saying in Tamil that a goldsmith will short-change even the jewellery he makes for his wife by sheer habit!
You now link the rush for the gold business. Some 50 years ago T Nagar did not have an organised gold jewellery business. Today over a dozen gold showrooms are flourishing in this business. Perhaps, except you and I, most other persons are engaged in the jewellery business. These thrived on a few practices:
Short-change seemed to be widespread in caratage. The 22 carats is short-changed for 20 or 18 meant a huge profit. Secondly, there is almost a continuous increase in the price of gold. So most of the time you buy cheap and by the time you sell it, you gain from the rise in prices. Thirdly, gullible womenfolk have least idea on wastages and making charges of gold jewellery
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