Bulgari Gold Succumbs to Ceramics With Jewelry Hostage to Bubble

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Photographer: Kuni Takahashi/Bloomberg

At Dwarkadas Chandumal Jewelers in Mumbai the walls are festooned with bridal sets, necklaces and earrings that contain as much as 100 grams of the metal and command 230,000 rupees or more.

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Photographer: Kuni Takahashi/Bloomberg

At Dwarkadas Chandumal Jewelers in Mumbai the walls are festooned with bridal sets, necklaces and earrings that contain as much as 100 grams of the metal and command 230,000 rupees or more. Close

At Dwarkadas Chandumal Jewelers in Mumbai the walls are festooned with bridal sets, necklaces and earrings that... Read More

Photographer: Kuni Takahashi/Bloomberg

At the Bank brothers' one-room workshop in Mumbai, 90 grams of gold can be fashioned into six bracelets, 2- to 3-centimeters wide, in about 12 hours. Close

At the Bank brothers' one-room workshop in Mumbai, 90 grams of gold can be fashioned into six bracelets, 2- to... Read More

Photographer: Kuni Takahashi/Bloomberg

Tara Jewels plans to raise about 2 billion rupees ($44 million) in an initial share sale next year to expand its retail network in India, where the economy grew 8.9 percent in the third quarter. Close

Tara Jewels plans to raise about 2 billion rupees ($44 million) in an initial share sale next year to expand its... Read More

Photographer: Kerem Uzel/Bloomberg

Tourists who are the bazaar's mainstay are showing less interest in gold because of the price, retailers say. Close

Tourists who are the bazaar's mainstay are showing less interest in gold because of the price, retailers say.

Photographer: Kerem Uzel/Bloomberg

At Istanbul's six-century-old Grand Bazaar gold is so central that rents are paid in it. Close

At Istanbul's six-century-old Grand Bazaar gold is so central that rents are paid in it.

Photographer: Kerem Uzel/Bloomberg

Armanak Canikyan, a gold craftsman aged 66, sits in his Ottoman-era forge in the Cuhacihan area of the Grand Bazaar where the business has been "cut like a knife." Close

Armanak Canikyan, a gold craftsman aged 66, sits in his Ottoman-era forge in the Cuhacihan area of the Grand Bazaar... Read More

Photographer: Kerem Uzel/Bloomberg

"We can't set the price on gold, we can only put a price on labor," says Cihat Cirpici, owner of Hibas Kuyumculuk, a wholesaler that moved its operations to Dubai from Istanbul. Close

"We can't set the price on gold, we can only put a price on labor," says Cihat Cirpici, owner of Hibas Kuyumculuk, a... Read More

Photographer: Nelson Ching/Bloomberg

A customer looks at gold figurines beneath a sign saying "The Number One Gold Shop in China" at Caishikou Department Store in Beijing. Close

A customer looks at gold figurines beneath a sign saying "The Number One Gold Shop in China" at Caishikou Department Store in Beijing.

Photographer: Nelson Ching/Bloomberg

A gold figurine of Mao Zedong, former leader of China is displayed at Caishikou Department Store in Beijing. Close

A gold figurine of Mao Zedong, former leader of China is displayed at Caishikou Department Store in Beijing.

Photographer: Nelson Ching/Bloomberg

Yang Hongwei, center, tries on gold rings in Beijing. Close

Yang Hongwei, center, tries on gold rings in Beijing.

In June, Bill Doddridge flew his single-engine Cessna 400 to Twentynine Palms Airport near California’s Mojave Desert and headed for an abandoned mine, a .45-caliber pistol on his belt. He was looking for gold.

The firearm was to ward off rattlesnakes. The precious metal would be a sideline to his jewelry business. He sifted through dirt, climbed into shafts, and later bought the property, shuttered since World War II.

To contact the editor responsible for this slideshow: Scott Eells Head of Asia Photos Tel:

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