Record-high gold prices have hit jewellery sales along an east London street famed for wedding shopping among the south Asian diaspora, but shop owners are confident that demand for the precious metal remains robust.
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00:10 So, you see, there is a big increase in last 30 days.
00:28 And the people are obviously buying not as much as before.
00:33 But there are people who are still investing in gold bars.
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00:42 >> The high prices kind of has deterred me from buying and
00:46 I have been saving quite a while.
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00:54 >> [FOREIGN]
01:04 >> I'm thinking it's a good investment for
01:08 my daughters if they ever needed it for a rainy day.
01:10 They could sell the bangle and
01:13 use the cash to help them with whatever their needs are.
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01:17 >> It's quite a cultural practice to have gold and wear gold.
01:22 With prices increasing, it somewhat makes you want to buy gold earlier than later.
01:26 So buying now and expecting in another few years for
01:30 that to have increased in value.
01:32 >> Grandmother's given something, handed something down or
01:34 something like that.
01:36 It's all about that.
01:37 So they're coming with money.
01:39 >> When you see rapid jumps in gold and things like that,
01:45 yes, there's a shock to the system, but things do curve out again.
01:50 And people think, okay, right, we're used to these prices now.
01:53 The worst ones we see are volatility, where we see high prices one day,
01:58 low prices the next day.
01:59 And that's very difficult for our business.
02:02 >> Particular necklace, 47332.
02:06 >> Okay, so you've got.
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02:11 >> We were getting a bit worried in April when the price did hit that sort of peak.
02:15 And we thought, will it affect our demand from the customer's perspective?
02:19 But it was quite interesting that overall, customers were appreciative
02:24 of the stability we were providing as a brand.
02:27 And it didn't really affect our overall volume.
02:31 >> You have natural genuine diamonds set in 22 carat.
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