Gold is glittering once again for buyers this Navratri season with the local Sarafa market abuzz with a brisk purchasing activity for the yellow metal.
One of the key drivers for brisk sale of jewellery had been a significant fall in the price of gold from around Rs 34,000 per 10 gm in 2013 during the last Navratri season to Rs 27,500 per 10 gm in the same period this year, Harakh Malu, President of Raipur Sarafa Association told The Pioneer.
“The fact is that even during the ‘Pitra Paksh’ period when people don’t make purchases, there had been sale of gold jewellery in the Sarafa market which displays the strong demand trends for the festive season ahead,” he said. Malu said that there had been intense buying activity in the gold jewellery segment as people now want to take the advantage of the lowering of gold prices.
“Even silver had displayed some very strong buying sentiments due to a price fall as during 2013 during the Navratri season price of 1 kg of silver was Rs 75,000 which is Rs 49,800 per kg in the same period this year,” he said. The buying momentum for both traditional and fashion jewellery had been very strong and will continue as marriage season had also begun with people shopping for both—the festivals and the marriages, Malu informed.