Gold & silver shine on Dhanteras,diamonds too

Many went for gold coins and rings rather than jewellery this year. With rising prices,gold is considered the smartest investment today. “We believe that rising gold prices are a result of an economic uncertainty,but the demand for gold in India will continue to recover as investors realise the benefit of gold as a means of investment,” says Ajay Mitra,managing director,India and Middle East,World Gold Council.

Haridas Kakade,store manager of Vaman Hari Pethe Jewellers,says people book gold ornaments eight-ten days before Diwali. “On Dhanteras,there was a heavy demand for solid gold rings and fancy gold bangles.” At B N Ashtekar Jewellers,Laxmi Road,there was a 40 per cent increase in sales. “On Dhanteras,people opted for gold pendants,small mangalsutras and a variety of bangles,” owner Prashant Ashtekar says.

At some jewellers’ stores,the sales almost doubled. “The price of gold usually goes up by Rs 400-Rs 500 during Diwali. We had a good sale at all our stores on Dhanteras,” says Yashwant Sonare,assistant manager,P N Gadgil Stores.

Diamonds too weren’t far behind on the sales chart. “Customers mostly buy gold or silver on Dhanteras but this year,due to the popularity and easy availability of diamond jewellery,people are following a new purchasing trend,” says Gopi Chand,an employee at Lagu Bandhu Jewellers,Karve Road. “The sale of diamonds went up by 40 per cent in the last two days. The sale of rubies,emeralds and other precious stones is also going up.”