Gold Sales Reduced By 30% On Dhanteras Due To High Prices
Hyderabad, Oct 30 (Maxim News): Gold prices have an effect on Dhanteras day on Oct 29. People consider it auspicious to buy gold and silver on the day of Dhanteras. It is believed that if you buy gold and worship Goddess Lakshmi on that day, you will get wealth. They are interested in buying at least one gram of gold.
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Traders make special offers based on this. This time too special offers and discounts have been made to cash in on the sentiment. Some of the shops have given the option to purchase in EMI mode. However, as the prices of gold are showing an increase, no matter how many efforts are made to attract buyers, people are not willing. Traders said sales have fallen by 30 percent this time. They state that the increased prices of gold and silver have shocked traders who trade with public sentiment every year.
Actually, on Dhanteras day, gold lovers queue up at gold shops. But, this time Dhanteras was taken lightly. As gold prices reached a record all the gold shops seemed to be empty. Moreover, this time Dhanteras fell on Tuesday. Many people hold back from buying gold on Tuesday.
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This time there was no festive atmosphere in the gold shops. Traders said that the sales of Dhanteras in the Hyderabad market were not even 30 percent, It is said that this time the price of gold has increased by Rs. 15 thousand compared to last year, so the sales may have decreased. Last year 22 carat gold weighed Rs. 65,000. On Tuesday, 22-carat Tola gold was priced at Rs. 73,750 in the Hyderabad market. 24-carat reached Rs. 81,490. Usually, Dhanteras rain money for gold traders every year. Traders lamented that the business is not promising with the increased prices this time. (Maxim News)
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