It appears that the gold prices at lower levels is offering people a golden opportunity to buy, with its price touching a low of Rs 136,500 per 10 grams (without 3% GST) on Thursday, in the Itwari Sarafa Bazar. After a good response in Dussehra and Diwali, city jewellers are confident that in the coming wedding season there will be exceptionally robust demand. Most jewellers are confident that there is limited down side from these lower levels the gold price could bounce back within a short period of time. One of the promient city jeweller, Rajesh Rokde, Director of Rokde Jewellers, and Chairman of All India Gem and Jewellery Domestic Council (GJC) told The Hitavada that gold prices at lower levels is giving a great buying opportunity to both consumers and investors. “From these levels, I don’t expect gold prices going down much further.

 

There is limited downside,” he pointed out. “There is a huge demand for gold jewellery in the country. In the current situation, gold is attacting people in large numbers. Major jewellery showrooms are witnessing heavy footfalls. People having weddings in their homes are preparing in advance and have started buying jewellery, as they expect gold prices to surge in the near future. Investors waiting on the sidelines are also are buying gold at current levels due to its attractive price at current levels. his reflects the faith people are having towards gold as an asset. The wedding demand is set to drive the gold price to higher level in the country,” he added. Kishor Sheth, Director of Batukbhai Jewellers, Shankar Nagar, said that gold prices are looking attractive and a large number of people are taking benefit of lower gold prices and buying jewellery. “Looking at the encouraging demand during the auspicious Dussehra and Diwali festivals, I’am expect a good number of walk-ins and strong sales during coming wedding season that will start after November 21 (Tulsi Viwah),” Sheth added. Shrikant Bhandarkar, Director of Bhandarkar Jewellers, said that large number of people are taking advantage of lower gold prices and buying jewellery. Gold at current levels is attracting a large number of people and investors to his shop.