Glittering gold sales bring cheer this Dhanteras

NASHIK: The significant drop in gold prices sent cash registers ringing in the major jewellery market in the city on Monday, when citizens rushed to purchase the yellow metal on the auspicious occasion of Dhanteras. The sales were comparatively higher than the record on Dasara earlier this year.
Dhanteras is one of the auspicious occasions when people prefer buying gold or silver.Most customers preferred to buy gold jewellery on the occasion, while some customers opted for diamonds of the select range.
The price of yellow metal has declined by Rs 1,000 per 10 grams in past 20 days. The gold price was recorded at Rs 26,200 per 10 grams on Monday, as against the Rs 27,200 per 10 grams on Dasara. Apart from gold, prices of silver have also declined by 4.94% in past 20 days. The silver price was recorded at Rs 36,500 per kg, against Rs 38,400 per kg on Dasara.
Rajendra Odhekar, president of Nashik Jewellers' Association, said people prefer to buy gold jewellery on Dhanteras, while they prefer buying gold bars or coins on Padva. "We had better business on Dhanteras as compared with the sales on Dasara. There was equal demand for gold and silver on Monday. Consumers mostly preferred buying gold and silver ornaments," he said.
He explained that the decline in gold and silver prices and the lucrative Diwali bonus schemes proved to be major attractions for the business on Dhanteras. Apart from gold and silver, there were also people preferring buying diamonds in the city market.
Jayesh Baphana, Director, Baphana's Diamond Galaxy, said they had registered around 20% increase in business on Dhanteras as compared to Dasara. "The sales have gone up by almost 40% compared to last year. The diamond prices are stable for the past four years," he added.
The jewellery store has diamond products starting from Rs 5,000 with the maximum demand for diamond products ranged between Rs 50,000 and Rs 2.5 lakh.
Amol Pujari, who is working with a private company, said that he had purchased a necklace for his wife. "This was our first Dhanteras after marriage. I bought a necklace for my wife as a gift," he said.
There are close to 5,000 small and large jewellery showrooms across the district, including 1,000 shops in the city. There are close to 250 shops at the major jewellery market Saraf Bazaar in the city.