Over 25 % hike in gold sales on Dhanteras
As the fluctuating gold prices settled down during Dussherra, the sales went up this time, writes Jyoti Shelar.india Updated: Oct 19, 2006 22:00 IST
Jewellers across the city saw a 20-25 per cent hike in the sales as Mumbaikars chose to purchase gold and silver items on the auspicious occasion of Dhanteras on Friday. Also reffered as Dhantryaodashi, the festival of Dhanteras marks the beginning of Diwali celebrations.
As the fluctuating gold prices settled down during Dussherra, the sales went up higher as compared to a meager 15 per cent from the last few years. “The gold rates were stable and that led more customers to buy. The rates were fluctuating since earlier but they have been stable since Dussherra”, said Mitesh Jain, owner of Swastik Jewellers in Dadar. The current rate for 24 carat gold in the market is Rs 8750 for 10 grams.
“I make it a point to purchase any small gold item on Dhanteras because when we purchase on such auspicious occasions, the wealth always increases”, said Kishori Bhamre, a resident of Parel.
However, according to Vivek Jain of CK Jewellers in Byculla, Bullion or gold bars are topping the customers’ list this year. “The resale value for the gold bars is much more higher as compared to the gold jewellery. Customers over a period of time have become smarter and they now prefer purchasing things with greater resale value”, said Jain.
First Published: Oct 19, 2006 22:00 IST