Pre-Diwali Dhanteras sales of gold and silver kicked off on Thursday but overall business is likely to be a muted affair in view of sharp rise in prices and subdued demand due to the COVID-19 induced economic hardship, according to jewellers and industry experts. Although the buying sentiment has improved after the COVID-19 curbs were relaxed, consumers are still wary of investing in precious metal at current high rates, they said.
Jewellers also said they are recycling old jewellery stock to meet the festive and wedding season demand. Besides, a caution still prevails among people while coming out of their homes for shopping amid rising COVID-19 cases in key consuming markets across the country, and consumers in view of the pandemic have made advanced booking through online jewellery platforms, they added.
Dhanteras, considered the most auspicious day in Hindu calendar for buying items, ranging from precious metals like gold and silver […]
November 12, 2020 (updated November 12, 2020) Published by StockMan