Retailers see positive jewellery purchase this Dhanteras

The Indian festival of Dhanteras, two days prior to Diwali, saw jewellery sales rise, reports say. The occasion is celebrated in the traditional manner with the purchase of something auspicious like gold and jewellery. Gold jewellery sales rose by around 15-20 percent as per reports. The dip in gold prices seems to have boosted consumer demand for gold jewellery, although the bent was more towards lightweight jewellery, as per reports.

Much of the purchase was although customary to mark the occasion, yet the reduced gold prices helped spurt some more demand from the consumers, wherein some who placed advanced orders added more to their shopping. It may be recalled that the Indian government launched four gold schemes this month, but consumers have not shown much inclination for the same so far, as per reports.

Price of gold has taken a beating of almost 6 percent in the past two week, as per reports, with current trading in London at $1,094 an oz. Silver prices dropped 6.6 percent to $14.79 an oz for the said time span. There was a four percent drop in gold prices in India in two weeks and is now trading at around Rs 26,100 per 10g.