Mumbai: As expected, the Dhanteras Festival Tuesday slightly raised the gloom cloud that has been hit by the economy since the locking Covid-19.
The Cait Industrial Federation expects gold sales to cross the National Crore 7,500 RS record.
Tuesday for 22-carat gold is Rs 46,740 per 10 GM while 24 carat gold is Rs 47,740.
In Mumbai, mahurat customers flock to buy small jewelry items when wedding buyers choose high-value ornaments.
After a series of lively season, jewelry was so busy so they refused to talk until the closing of the working hours.
Over the day, the sale of gold coins surpasses jewelry in several parts of the city, which is unusual given the saturation of the upcoming wedding ceremony.
Usually, the tariff ornaments are better than bars during the wedding season.
However, the trend to coins shows that Mumbikar once again rely on pure gold as an investment in the middle of an unstable economy and the price of spiral fuel.
Festive shopping continues until 10:30 a night given customer preferences for Mahurah’s night.
Nitin Khandelwal, past president of the All Indian Gem and Jewelry Board (GJC), has a showroom chain.
He said, “National traders are very happy.
We made our expectations low because the pandemic was still not fully behind us, but a strong demand had surprised us.
Our shop runs out of gold coins at night and we quickly contributed more stock.
“Khandelwal said the Mahurat profited Pussu Yog teacher, who fell last Thursday, also saw fast purchase sentiment.
“It takes 25% of the Dhanteras burden,” he said.
Ashok Gajera, Director of Laxmi Diamond, the top-ranking wholesaler of Bharat Diamond Bourse said Diwali had seen a good start.
“Customers have turned to jewelry, both gold and diamonds, because of increasing volatility in other forms of investment.
Jewelry has become a stable investment.
Our sales are 40% higher this season.” Zaveri Bazaar Goldsmith Kanaya Kakad said, “People buy coins ranging from 2-10 gm.
There is a big queue to buy silver and gold in Zaveri Bazar.” The excitement perched in the tone of Goldsmith Sanjay Kothari from Palak Jewelers, Borivli.
He said, “The client arrived in large quantities to buy jewelry and gold coins.
After the long gloomy sales period, trading finally looked up.
I think nothing can happen to us in Diwali but it’s good.
Day for business.” Feelings Similar omited by Mehul Suru, manager Om Alankar Jewelers nearby, who said “The coin ratio for ornaments is 70:30”.
In Andheri Lokhandwala, Kaj Jewellers also reported that coins had a better jewelry in the same proportion.