With gold prices dipping to the lowest in two years, city-based jewellers witness improved sales on Dhanteras

In 2013, the price of gold was Rs 29,900, while in 2012, it was the highest at Rs 30,700.

Written by Ifrah Mufti | Chandigarh | Published: October 22, 2014 3:36:03 pm

As the gold prices were recorded to be the lowest as compared to the last two years, city-based jewellers witnessed improved sales on Dhanteras.

The sale of gold jewellery saw an increase of over 5 per cent unlike last year, when sale had gone down by 40 per cent.

“Though the sale was not upto expectations, the credit for improved sales goes to the low prices this time,” said Vinod Talwar, president of the Chandigarh Jewellers’ Association.

Neeraj Jain, owner of Nikka Mal Babu Ram Jewellers in Sector 22, said, “On the occasion of Dhanteras, we witnessed an increase in the number of customers. Last year, sales had gone down and our business suffered because of inflation too.”

As gold prices increased by 1 per cent on October 21, 22 karat gold was available at Rs 26,600.

In 2013, the price of gold was Rs 29,900, while in 2012, it was the highest at Rs 30,700.

The jewellers informed that in 2010 gold prices were the lowest at Rs 19,200.

The Tricity saw improved sales even in case of automobile dealers and electronics showrooms.

The sales manager at Krishna Honda, Industrial Area Phase 1, said, “We have already been celebrating the booming sales of our two-wheelers, be it the bikes or the Honda Activas, since the starting of this year. On Dhanteras alone, we have earned approximately Rs 125 lakh.

The manager at Berkeley Automobiles Ltd in Industrial Area, Chandigarh, stated that apart from 600 month-old bookings, as many as 850 cars were sold on Dhanteras.

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