Wedding season pulls up demand for gold jewellery
   Date :11-Jun-2022

gold jewellery  
Business Bureau
This years wedding season has lifted the demand for gold jewellery which in turn has given an opportunity to make up for the losses suffered due to lockdowns during the past two years of COVID-19. The jewellers are happy these days as there is strong demand for gold and silver ornaments at their showrooms.
Overall there is excitement in the jewellery markets as the number of weddings this season is estimated to be 4 lakh in Maharashtra alone. This was revealed by Rajesh Rokde, Director of Rokde Jewellers, Secretary of Nagpur Sarafa Association and Director of All India Gem and Jewellery Domestic Council (GJC) while speaking to The Hitavada.
The jewellers have anticipated that this season would be special and introduced huge range of jewellery consisting of the latest designs and collections, well in advance to woo the customers. In the absence of COVID-19 restrictions the people are venturing out and visiting their favourite jewellery shops, he said.
Kishore Sheth, Director of Batukbhai Sons Jewellers, Dharampeth said that there is strong demand for gold ornaments this wedding season. Although the rates are on the higher side the demand has increased by 35 per cent to 40 per cent as compared to the year ago period.
“We have introduced heavy Jadau gold jewellery in latest modern designs for the customers. Also, there is gold and diamond studded idols in unique designs,” he said.
“We are the trend setters in jewellery designs and that is why people always come to our showroom from far away places,” he said. There is the unique Turkish jewellery which gaining popularity as is very flexible in nature,” he noted.
Amit Sathe, Partner of Sathe Jewellers said that there is strong demand of for gold jewellery this wedding season and a growth in demand of 20 per cent to 30 per cent, as compared to the previous year. There are some people who are waiting on the sidelines expecting that the gold rates would fall. Looking at the gold prices from 2005 to 2013 the gold prices shot up from Rs 6,000 per 10 grams to Rs 30,000 per 10 grams. Currently, due to high inflationary trend in the international market, he advises people to buy now as there are indications that the gold prices would rise further in the coming days.
Pradeep Kothari, Director of Kothari Jewellers said that there is considerable pick-up in demand of 20 per cent this summer wedding season.
He said people should buy gold ornaments as the prices of gold is at Rs 51,300 per 10 grams (without GST and hallmarking charges) and silver at Rs 61,700 per kg which is lower than the record high of Rs 57,000 per 10 grams.