Gold sales surge 30 per cent on demand for wedding jewellery
12 Nov 2012
Gold sales surged by around 30 per cent yesterday as demand for wedding jewellery attracted more buyers on the auspicious occasion of Dhanteras despite high prices.
Gold prices currently rule at around Rs32,000 per 10 grams in Delhi and Rs32,100 in Mumbai.
PTI quoted P C Jeweller's managing director, Balram Garg, as saying that the sales had been very good and they expected better sales as compared to last Dhanteras.
The agency quoted another Delhi-based jeweller, P P jewellers' director Pawan Gupta as saying that the rush of buyers clearly indicated that high prices had not dampened demand.
Dhanteras, has traditionally been considered an auspicious day for making new purchases, especially of the yellow metal.
The report went on to quote jewellery retailers at Chandni Chowk market as saying that much of the demand was for jewellery as compared to gold and silver coins and bars last year's Dhanteras.