Buying gold on Diwali-Dhanteras is considered auspicious, but this year the high prices of gold may trouble the customers. The reason for this is the high prices of gold, which have reached above Rs 80,000 per 10 grams in Delhi. It has been estimated in a report that this time the purchase of gold may decrease by 15-20%. In such a situation, what option do you have?
Gold is purchased on Diwali and Dhanteras, which accounts for about 30 percent of the entire year’s sales for jewelers. In such a situation, if there is less purchasing this year, it will affect the jewelers also. For this reason, big jewelers like Senco Gold and Diamond, Joy Alukas and Malabar Gold have come out with different offers for the customers.
Getting free iPhone, car
Where jewelers are offering huge discounts on making charges on the purchase of gold on Diwali. Offers like lucky draw have also been introduced. Jewelers are offering offers like iPhone, electric car, gold coins and price guarantee on buying gold. So that customers come to the store and make purchases.
Impact of weather on gold demand
This year, Maharashtra, Tamil Nadu, Karnataka, West Bengal and Odisha have been affected by rains and cyclones, which is expected to affect the purchase of gold in villages. 60% of the country’s gold is consumed in villages, so reduction in demand there will affect total sales.
Still, some jewelers hope that due to good harvest this time in small towns and villages of the Hindi belt, people can buy gold, due to which the festive sales can be moderated a bit.
Demand for diamonds and platinum is increasing
Demand for gold is always high in South India, but this time people are going towards diamonds and platinum. Varghese Alukas, MD of Joy Alukas, says that the prices of diamonds have come down recently, due to which people are now going towards it. The amount of gold in diamond is also less, so it is also a little cheaper.
Demand for diamonds has increased in the last few weeks, so this time many jewelery companies are trying to attract customers by offering offers on diamonds and platinum also.
