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Sale of gold goes up as prices go down
Posted on: 10/Aug/2015 10:10:22 AM
Owing to the fall in gold prices, retailers have seen an increase in its demand. The sales of gold jewellery has gone up by 40 to 50 per cent, say experts. The price of gold has slipped below Rs. 26000 per 10 grams. The price went down to Rs. 25000 per 10 grams last week. It is expected to fluctuate between Rs. 24000 and Rs. 25000 for the next few months.
Say retailers, Since the last week of June, we have witnessed a sudden jump in the demand for gold jewellery. There has been a 50 per cent increase in gold jewellery demand during the past one month as compared to the same period last year. Gold prices have corrected around 20-25 per cent over the past one year. Consumers who had postponed their purchases expecting the gold prices to drop are now loosening their purse strings... The B2B gold jewellery exhibition held in Mumbai has seen a robust demand from retail gold jewellers, which suggests that they are anticipating higher demand from final consumers in coming months. There has been a 40-50 per cent jump in gold jewellery demand across the country, especially in the last 15 days. What we are seeing is that consumers are preponing their Diwali and wedding-related purchases due to lower gold prices.
