According to the World Gold Council (WGC) data, the demand for jewellery has fallen by 74 percent compared to last year
Gold sales rise in India on the occasion of Dussehra, Dhanteras and Diwali. On Friday, Future Gold was trading at Rs 50,750 per 10 grams.
Gold dealers in India continue to forecast a surge in festival sales this week. At the same time, Top Consumer China has reduced the bullion demand in this Golden Week. Navratri has started this week in India. At the same time, there are festivals like Dussehra in late October and Dhanteras and Diwali in November. There is a high demand for gold in all these festivals.
“Retail sales are expected to improve this festive season. Dealer demand is slowly improving,” said Mukesh Kothari, director of Mumbai-based gold dealer Riddhisiddhi Sarafa. On Friday, Future Gold was trading at Rs 50,750 per 10 grams in the local market.
Dealers opinion on gold sales and offers
Tanishq showroom located at DB Mall, Bhopal said about the price and offer of gold, there is no big offer on gold yet. Customers are being given a 20% discount on the making of gold. At the same time, 25% discount is being given on the making of the diamond. There may be some new offers next week, or maybe a big scheme for the customers till Dhanteras and Diwali. Agarwal Jeweler of Bhopal said about the gold offers that they are giving silver free gold on their behalf to the customers. That is, every gram of gold that the customer will buy will be given free silver.
At the same time, new offers can be added during Dhanteras and Diwali. Kushank Bajaj, Bajaj Shree Jeweler, Bhopal told a different story about the offers. He said, “The big dealers lure people in the name of the gold offer. They take more money from the customer than the other way, then return it in the name of the offer. Now the customer is smart enough not to get the offer or other greed Is. “Many other gold dealers are not currently offering any kind of offers on gold. Most say that during Dhanteras, some scheme may be brought.
Gold demand decreased
According to data from the World Gold Council (WGC), demand for jewelery has fallen by 74 per cent compared to last year. The demand for gold always rises in the second half of the year due to the festive season, but this time there is no expectation of any significant rise in it.
According to experts, since August, gold prices have come down by Rs 6000 and this is a good opportunity to buy gold for investment. Buying gold on Dussehra is considered auspicious. If you invest in gold at this time, it will help you in dealing with future challenges.
Gold prices on Friday
Gold delivered in December fell by Rs 47, or 0.09 per cent, to Rs 50,665 per 10 grams, with a turnover of 14,585 lots at the Multi Commodity Exchange on Friday. However, gold was trading up 0.10% at $ 1,910.90 an ounce in New York.
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