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Now in Chennai, the demand for the Gold goes up marginally
Posted on: 15/Apr/2021 9:15:05 AM
The yellow metal is grabbing the attention of many now!!
The elections are over and the wedding season plus gold price fluctuations have increased the demand for the gold marginally in Chennai. Recently, Jewellers and Diamond Traders Association launched a mobile application to help the consumers and jewellers to check the price trends and current gold rate. On 14th April 2021, one gram of gold was sold for Rs 4415.
Volatility in gold was because of the variation in price in the international market. The demand for gold has gone up by 105 to 20% now. This was according to some jewellers.
The dip in the supply from other places like Mumbai, Jaipur and Kolkata etc due to Covid-19 pandemic has led to showcasing of additional stocks also. Many customers preferred to visit the shops to buy gold and the online sales have also increased slightly.
The business was better in tier-2 towns than Chennai and many showed their interest to make small investments in gold. This was highlighted by Jayanthilal Challani, president, Jewellers and Diamond Merchants Traders Association, Madras. Truth is that just 50% of customers are being allowed now inside the jewellery shops and that is due to the Covid-19 protocols.
