Go For Gold, Even If Little

With gold prices touching almost Rs 10,000 per 10 gm, this Dhanteras shopping for gold is proving too expensive for the consumers.

This rise is not just upsetting the buyers, but even the sellers aren't very happy, as the sales this year have dipped by approximately 30 per cent as compared to last Diwali. "The rate is so high that many are not opting for gold. Though the business during Dhanteras is good, there has been a 20-30 per cent drop in sales," said Ravi Jain, Manager of Nikita Jewellers at Vashi.

An employee of Mahalaxmi Jewellers said the sale this year has seen a 50 per cent fall because of the uncertainty in prices.

"One day the rate collapses, and for next few days it continues to rise. Those who can afford are going for diamond instead," said the employee.

Despite this, there are some like Manohar Shroff, a Vashi resident who prefers to buy gold coins as it is considered auspicious.

"On this fortunate day, no matter the rise in prices, if something has to be purchased it has to be done," said Shroff.

Meanwhile, Manager of Adora, Surinderpal Singh said, "Even last year, the rate was quite high but the business was as usual. People do generally purchase gold on such occasions, irrespective of the price."