Pune: Gold shines brighter this Dhanteras

Diwali, especially Dhanteras is supposed to be an auspicious occasion to purchase gold. This year Ranka said they have seen good business with many people lining up to make their purchase. Most people, the industry said, had preferred to purchase jewellery rather than bullion. “Even if for the same amount of money, the quantity of gold one can buy is lesser than other precious metals, people prefer to invest in them rather than bullion,” said a jeweller.

Amit Modak, director CEO of PN Gadgil and Sons, said they saw overall good sales in terms of value. “The momentum of sales was dampened by rains in the evening but overall sentiments were high,” he said.

At present, 10 gms of the yellow metal (24 carat) in Pune costs between Rs 60,000-61,000, which on the previous Dhanteras was between Rs 51,000-52,000 for the same quantity. Modak said most buyers preferred gold jewellery over bullion. Around 70 per cent of the purchase was in the form of jewellry while the rest was as bullion. While rains dampened sentiments on Dhanteras, the following weekend saw brisk sales which made up for the lull on that evening.

Ajoy Chawla, CEO, Jewellery Division, Titan Company Ltd, also spoke about a positive sentiment during the festive season. “Over the past three weeks of this festive season, we’ve observed a significant upswing in customer sentiment, especially chic lightweight jewellery, which has been receiving remarkable traction across all categories,” he said.