Jewellers expect steady dip in gold price to drive Dhanteras sales | Kolkata News – Times
With the demand being expected to surge for the wedding season, jewellers hope for sales like pre-Covid times this Dhanteras.
The situation looks better as enquiries for heavy jewellery and bridal collections have already started pouring in.
Ajoy Chawla, CEO (jewellery division) of the Titan Company Ltd, feels that consumers are celebrating small milestones in their lives now. “Pent-up demand, the overall festive mood and wedding purchases are converging to create a surge in both gold and diamond categories,” he said. The marriage season, which contributes to the largest chunk of gold sales, is scheduled to start from November 15.
Jewellers in the city feel that vaccination drives, along with a declining number of active cases, are gradually making an impact on the lives of people.
“Gold prices have come down by nearly Rs 8,000 per 10-gram in the past six-seven months. What can be a better time to buy jewellery especially for marriages? We are witnessing that trend now,” said Rupak Saha, zonal member of Gem and Jewellery Trade Council of India. In the past seven days, gold price has reduced from Rs 47,470 per 10-gram to Rs 47,100 on Monday.
“Since the marriage season is round the corner, people are making most of the offers provided by us for Dhanteras. A lot of people are also coming to buy gifts for the weddings,” said Anargha Uttiyo Chowdhury, director of Anjali Jewellers.
Suvankar Sen, CEO, Senco Gold and Diamonds, said, “Our stores are expected to register an increase of 15%-20% in sales this Dhanteras. There are new collections, designs in gold, diamond, platinum for customers. We are encouraging everyone to return to the normal rhythm of life and planning to buy jewellery this festive season,” he said.