The fall in the price of gold for the third consecutive day has given the customers reason to cheer ahead of the wedding season. People, in large number, have been turning up to the major bullion markets in the Capital for purchase of the precious metal.
The sale of gold ornaments has gone up by 20 to 25 per cent at this season as compared to previous year. Customers especially housewives are filled with joy and are in a hurry to seize the “golden” opportunity. “I was overjoyed on knowing the decline in gold price. I have two weddings on my platter. It is the perfect time to buy gold as prices have come down,” said Avnee Dhamija, housewife who was at a jewellery shop in Connaught Place.
For traders too, this steep fall in the price of gold has resulted into higher sale of the ornaments. As they claimed the sales have shot up by at least 25 per cent during the last couple of days. “Customers are not only buying for weddings and gifting purposes but also for investment purposes. However, there is also a reasonable percentage of people who have stalled their purchase in the hope of buying when price of gold hits rock bottom.
Yashovardhav Zaveri, Director of the noted jewellery shop Tribhovandas Bhimji Zaveri at Janpath said, “Those who could not buy earlier are buying now. There has been a drastic increase in demand. Sales have shot up by 25 per cent. People are buying for investment purposes too besides wedding purposes. There is a manifold increase in the inquiries for gold.”
To add to that Sahil Kalra, owner of the lachhmandas Jewellers in Karol Bagh said, “Although there is a surge in demand for the commodity but at the same time there are also a lot of people who are waiting for a further fall in the price. Customers have been inquiring about the prices frequently and increasingly since the market is highly volatile. The jewellers too predicted the prices to fall marginally in a next few days but said the prices would certainly go up by the month of May.