RJ Market Watch
Gold Sales Gets Gudi Padwa Boost
Jewellers enjoyed a good Saturday, as jewellers flocked to their businesses on the occasion of Gudi Padwa. As against the jewellery expectation of a 10 percent rise, some jewellers said they experienced a rise of 25 per cent in both jewellery and bullion buying.
This came as a pleasant surprise, as the gold prices had gone up about 7-8% this year compared to last year. “This year the market has been very good. Even if the prices went up, a lot more people are buying jewellery this season, said Saurabh Gadgil, chairman & Managing Director, PN Gadgil jewellers. Gadgil is also a National Vice President, Indian Bullion and Jewellers Association.
The upbeat market sentiment was also reflected in the ALL-India consumer survey, which was published by RBI recently.
Courtesy: Times of India
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