Gold, jewellery sales spurt up to 30 pc on Dhanteras

October 28, 2016 21:09

Gold and jewellery sales were up 30 per cent this Dhanteras, with jewellers across the country recording brisk business on the auspicious day on the back of favourable price and a good monsoon.

Dhanteras is considered to be an auspicious day for buying gold, silver and other valuables and is largely celebrated in North and West India.

P N Gadgil Jewellers Managing Director Saurabh Gadgil said that good monsoon, pent up demand of the first half of this year which was affected by jewellers' strike, stable gold prices and long weekend were mainly responsible for the positive consumer demand.

World Gold Council MD Somasundaram PR said, "The physical demand is good with good footfalls, which is 30-50 per cent more than last year during this Dhanteras.

"Consumers are back in the market and retailers are all geared up to meet this demand. The level of activity only shows that things have come back to normal in trade as well as at the consumer level," he said.

P C Jewellers MD Balram Garg said, "We are seeing 20 per cent jump in volume and 30 per cent in value terms. The growth is higher in value terms as prices have gone up in the last one year."

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