Jewellers, buyers high on gold rush; revival in sight

Mumbai (Oct 17)  The yellow metal shone bright this Dasara with Nashikites visiting outlets in large numbers to buy gold ornaments and the jewellers registering a 60% rise in business from that on the occasion last year.
Jewellers said Friday’s business almost matched the trade registered on Dasara in 2019, the year before the pandemic broke out. On Friday, business doubled compared to that of 2020. The jewellers said the day’s business hinted at revival of the sector.
Rajendra Odhekar, a jeweller, said the gold prices had reduced as compared to the rates on last year’s Dasara. “Covid-19 had badly affected the jewellery business during the last one-and-a-half years. But business started recovering since Navaratra. We have almost reached the point of pre-Covid Dasara business,” added Odhekar.
“Our Dasara business was badly affected due to Covid-19 last year. But the scenario has improved a lot and new Covid cases have significantly dropped during the past three-four months. This has created positive sentiments in the market,” said Chetan Rajapurkar, a senior office-bearer of the Nashik Jewellers’ Association

TOInews