Jewellers expect uptick in buying during festival
Gold prices may have been on the rise for the last couple of months, but jewellers don’t expect higher prices to dampen the demand this Akshay Tritiya. Jewellers are expecting token buying to continue during the festival. “We always buy some gold coins on Akshay Tritiya,” Shishir Pandey, a resident of Kalyaninagar, said. Mood in Mumbai’s Zaveri bazaar seems to be upbeat.
Anil Jain, a jeweller, said, “Light weight jewellery, coins/ bullion is expected to see more buyers this season.” The price of gold has been hovering around Rs72,000/10g. Dr Saurabh Gadgil, chairman and managing director, PNG Jewellers, said, “While the sale of gold in value terms is likely to surpass last year’s levels due to increased rates, we also foresee an increase in sales volume.”
Bhumik Soni, who runs Ganesh Peth-based H P Jewellers, said, “We have had good
footfall this week and people have also pre-booked jewellery. We expect revenue
sales to be higher by 10-12% this year as compared to last year,” he said. Quick
commerce platform Swiggy Instamart has partnered with Malabar Gold &
Diamonds and Muthoot Exim (Muthoot Pappachan Group) to allow customers to
purchase gold and silver coins directly on the platform.
Source: https://timesofindia.indiatimes.com/