Dhanteras lights up gold; sales rise 30 per cent
27 Oct 2008
Mumbai: Countrywide gold sales rose 30 per cent on Dhanteras day compared to sales the same day last year, despite fears that high prices of the precious metal may dent sales.
While the festival season and a moderation in prices to below Rs12,000-per-10 gm levels helped attract buyers, investors also had no better option than precious metals to park their money.
Most of the buying turned up to be investment oriented rather than for jewellery buying. Coins and smaller ornaments attracted most buying.
Buying gold on Dhanteras day is believed to be auspicious as purchasing the precious metal on this occasion brings in prosperity and wealth.