The gold and Jewelry business was not that encouraging these days. But the business men are looking at the festivals like Dasara, Diwali and coming Sankranthi for the rise in sale of Gold and Gold Jewellary it is reported.
There is nothing like the big Indian festival season to push up sales of precious metals. Gold prices have shot up by about 24 per cent since the beginning of this year, and maintained significantly higher prices compared to the same time last year, despite what seemed to be a cooling down of prices.
Gold prices held steady at Rs 31,200 for 10 gm on Monday, after falling over the weekend, even though silver fell marginally to Rs 45,450 per kg.
Jewelers have laid out plans to feed the pent-up demand for gold by foregoing a part of their margins on making charges in the hope of getting more and more buyers.
The movement of gold prices holds the key to sales this time as customers are waiting for price corrections to make purchases.Even the sale of silver is also expected to rise for Diwali. Rich people make diyas from silver apart from taking the idols of Lakshmi in silver for the puja.
