Puneites rush to buy gold on Dhanteras

Despite an astronomical increase in the price of gold, Puneites thronged gold marts on Monday to buy the yellow metal on Monday for the occasion of Dhanteras.

Gold price stabilised at Rs27,200 per 10 gm, while it was Rs20,000 last year during Diwali. Yet, sale went up by 25%, which shows it is still the best investment option for Indians. There was also a rise in sale of gold jewellery on Dhanteras.

Sarang Lagoo of Lagoo Bandhu Jewellers said there was a great demand for precious stones studded in gold. “The sale of ruby, emerald and real pearl has picked up. Gold jewellery with these stones is in demand,’’ he said.

Sales manager at Ranka Jewellers, Rajkumar Ajmera, said he had not seen sale of gold going down. Jewellers felt that even people from lower income group purchase some amount of gold on Dhanteras. “It is always an upward trend for the sale of gold.

Rising prices do not matter. It is a fact that Indians have an obsession for gold, but it is also a safe investment. This year, too, there is an increase of more than 20%. Silver too is in demand,’’ he stated.

Saurabh Gadgil of PN Gadgil Jewellers said the response was weak in the morning, but sale picked up in afternoon and evening. Most people preferred to shop on the weekend and there was good business on Saturday and Sunday too, he said.

“Dhanteras this year is on Monday which is a working day. Hence, many purchased gold on the weekend itself. Pure gold is still the best buy. Heavy jewellery too is preferred,’’ Gadgil added.

Considering the unstable economic condition, gold is considered the best investment option, the jewellers said.