Gold, silver sales up by 20% in Odisha on Dhanteras

Bhubaneswar: Even as sale of gold and silver dipped in the country amidst economic slowdown, a record consumer footfall was registered in Odisha on the occasion of Dhanteras this year.

The sales increased by 20 percent in the state. The gold worth around Rs 170 crore was estimated to have been sold on pre-Diwali Dhanteras yesterday, as against gold worth Rs 140 crore on this auspicious day last year.

Almost all the jewelry showrooms across the state were packed with consumers spending lakhs of rupees on purchasing gold and silver ornaments and coins on Friday evening.

According to reports, the gold jewelries especially chains, earrings and finger rings were most sold items on the special occasion , two days before Diwali. The customers bought jewelries on an average of Rs 35,000-40,000 each.

“Despite country’s sluggish economy, the enthusiasm for purchasing gold has grown among consumers in the state. Though the trade was not satisfactory in past three days due to rainy weather, the gold sale rose today on the occasion of Dhanteras as the sky was clear. The percentage of sale has increased this year as compared to last year,” said Khimji Jewellers Director Mitesh Khimji.

Besides, the attractive offers by leading jewelers during increasing gold prices in the country is said to be one of the factors for rise in gold sales on Dhanteras.

“Like every year, Gold remained the first choice for everyone to buy on Dhanteras this year. Our festive offers on gold and silver jewelries attracted the customers to spend money on the special occasion. The showrooms were filled in crowd from afternoon till evening,” said Lalchnd Jewellers Director Kishan Lal Gupta.

However, the sales of gold and silver declined as much as 40 per cent in the country. The business dropped as prices of both gold and silver have sharply increased weakening the demand for the precious metals.