Diwali is just around the corner, and Mumbai is bracing for a shopping surge as gold prices dip
Rates have fallen by Rs 10,000-15,000 of late. Monday’s gold rate was Rs 1,38,000 plus GST for 10 gm.
Kanaya Kakad, treasurer of the India Bullion & Jewellers Association (IBJA), said, “I would say this is the right time to invest in gold since the market has seen a correction [reduction in prices]. ” Diamantaire Sanjay Shah of Gold Star Group said, “Sales of gold are higher than diamond jewellery for two reasons. Speaking about current buying trends, Shah said, “Since we are manufacturers of diamond jewellery, I can only give an update on this.
Diwali may see interest from people who invest during festivals. Also, retail jewellers are arriving to purchase new stocks from wholesalers so we are hopeful of a good season. Firstly, lab grown diamonds have created a dent in sales of natural diamonds. Secondly, with gold prices having decreased, consumers are buying more gold jewellery. Consumers are buying diamond jewellery in budgeted price, not spending like before. You Can Also Check: Gold Rate in Mumbai | Silver Rate in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai | Mumbai AQI | Weather in Mumbai | Petrol Price in Mumbai | Diesel Price in Mumbai | CNG Price in Mumbai | LPG Price in Mumbai