The spirit of buying kept alive on Dhanteras

Dhanteras – the season of buying gold, silver and precious metals in India, was marked with a decent sale this year amidst the rising prices of the yellow metal. The consumer demand was both optimistic yet conscientious about soaring prices.

Dhanteras is a season in the Hindu calendar, which is believed to mark the beginning of prosperity, and is celebrated with the purchase of an auspicious symbol –primarily gold in India. This day leads onto the celebrations of Diwali - prime seasons for the gem and jewellery industry in India.

In the wake of gold prices touching Rs.27,200 per 10gm and silver at Rs. 55,500per kg on Dhanteras, buyers were more keen on purchasing gold and silver coins and fewer preferred jewellery. Buyers of jewellery preferred light weight jewellery to the traditional heavy jewellery. The rising gold prices lent to the investor sentiment of consumers, as they were seen buying more gold coins rather than jewellery. There was also a heavy demand for silver coins being weighed against the option of gold coins, owing to the price factor.