Gold is currently ruling at Rs 30,050 per 10 grams in domestic market. In February first week it was at Rs 26,930.
Echoing a similar view, former GJF Chairman Bachhraj Bamalwa said in terms of volume, the consumer demand might witness a negative growth of about 10%, but in value terms it is likely to be at par with last year's sales.
"There will be buying as people will purchase a token small ticket size jewellery or coin for the festival and they will hesitate to go for heavy pieces due to high prices," he said.
As for wedding jewellery, he said, usually consumers book for bridal jewelleries before one month for which most of the bookings were already done just after the strike ended.
"Bridal and wedding jewellery takes time so we usually get most of the bookings before one month. We got most of the wedding jewellery bookings just as the strike ended," he said.
However, World Gold Council (WGC) MD Somasundaram PR felt that there will be sharp hike in demand during Akshaya Tritiya, where wedding jewellery as well as investment-related items like coins, bars will also move fast.
Gold is among the most loved precious metals in the world. It’s a wonderful ornament to wear as well as a great hedge against inflation and falling markets. Another significant attribute of gold is that it can be liquidated easily around the world.
For us Indians, gold is a symbol of purity, prosperity and opulence. But how well do you know your gold jewellery and what things should you keep in mind while buying gold ornaments?
Here’s what you need to know – Tips when buying Gold Jewellery.
1) Understand that there are variations in gold that affect its purity, quality and price - the main factors to consider include purity, gram weight and design.
2) Purity - When it comes to purity, most gold has markings inside that indicate its Caratage.
Pure gold is too soft to use it as jewellery. So it is alloyed with a mixture of metals like silver, copper, nickel, and zinc to give it strength and durability. The most common ‘Carat’ options are 18 K, 22K or 24 K.
The higher the number, the higher the purity of the gold.
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