17 Aug 2022
DiamondWorld Directory
-
Home |
News
Home
Gudi Padwa churn mixed sales results for jewellers
Fall in gold prices was a booster to some extent
By: Diamond World News Service
|
Apr 1 2014 9:55PM
|
Reference: 8996  

DecreaseIncrease
Jewellers in India have experienced a mixed response to sales on the festival of Gudi Padwa this year which coincided with a fall in gold prices, reports say. The festival traditionally marks a new year beginning as per the Hindu calendar. It is welcomed with a purchase to symbolise auspiciousness and in India, gold is one such major element.

With gold prices falling to Rs. 28,000 per 10 grams from the prevailing Rs. 29,000 per 10 grams, the platform was ideal to expect good sales, although sales proved a mix of remaining flat, or seeing a rise across major cities, towns and tier II and III cities, reports say.

Factors of uncertain market conditions before the election period, an early Gudi Padwa which usually falls close to the wedding season and induces wedding jewellery purchases were cited as some of the reasons for slow or flat sales for gold during the festival this year. Weather patterns of rains and hailstorms affected the demand of the Tier II towns, with some jewellers experiencing low sales. Purchase of small coins or light weight jewellery was seen during the festive day, reports suggest. Also, the fall in prices deterred the investment class, reports say.

While on the optimistic side, there were those who took advantage of the fall in gold prices and rupee appreciation, to book orders. Spot gold touched around Rs.29,000 per 10 grams from around Rs.31,500 per 10 grams, reports add.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Advertisement
DWWeeklypost
Search News by City
Advertisement
DWsubscription
Recent Issue
2022
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 31255
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 8555
GJEPC Chairman Interview
Views: 27443
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 38231
Promo for IJ Awards 2012 at NDTV Profit
Views: 56007
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 67566
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21311
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 49934
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 51713
Member of:
Supporter of: