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No spike in gold sales despite dip in rate
Posted on: 13/Nov/2014 12:02:28 PM
If you want to find any signs of doldrums in the Indian market, you can very well identify it with the lesser crowd in jewelry shops even when the gold rate is depressed. In the past four months, there was a dip in gold rate by 5.5 per cent, however, there seems to be no surge in buyers or gold sales.
On enquiring gold jewelers in the city, few say the sales are too good, while few others point that they do not find much additional crowd despite depression in rates.
According to the point of view of Jayanthilal Challani, president of Madras Jewelers and Diamond Merchants Association, ever since the gold rate started flowing down, the sale of gold has been the best. However he never admitted that there were huge sales of gold.
He admitted that gold sale has been the same like last year despite significant depression in rates. He however did not failed to point that this condition prevails only in shops, whereas in the industry sales of the yellow metal, there is definitely an increase, he pointed.
Others sellers also do admit that there is no notable spike in sales despite such a dip in rate.
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