Despite rising prices, Pune buyers go for gold...

Notwithstanding the duty rise in the recent budget that resulted in escalating gold prices, the jewellers’ showrooms on Laxmi road buzzed with activity on Friday morning owing to Gudi Padwa.

The festival, which marks the beginning of New Year as per Marathi calendar, brought 10% rise in the sale of gold in the city.

Gold was being purchased at the rate of Rs28,200 per gram and the small gold rings weighing 0.50-5 gms were much in demand rather than the jewellery.

Assistant manager of PNG Gadgil and Company, Yashwant Sonar, said, “The sale has increased by 10% on Gudi Padwa, which is an auspicious occasion to buy gold. After Diwali, this is the first festival wherein the sale has gone up. Those buying jewellery for marriage purpose too want to take it home on Gudi Padwa. So, it’s a big day.”

Some gold shops had made separate arrangement in nearby premises for the sale of gold rings.

Other major shops like Ranka Jewellers and Ashtekar Jewellers too saw rise in the sale of gold. However, silver, available at the rate of Rs57,000 per kg, was not much in demand.

The gold shops were closed for five days from March 17 as the shop owners were on strike against the rise in service tax. This too added to the rush in the shops on Friday.