New Delhi: Gold sales on Dhanteras day today are down by about 50 per cent despite lower price as sluggish demand for bars and coins amid high inflation and weak economic outlook dimmed the sparkle of the precious metal.
Gold prices are ruling at Rs 31,400 per 10 grams in the national capital, lower than Rs 32,485 on the last Dhanteras.
“There is a drastic fall in gold demand due to weak economy and inflation,” All-India Gems and Jewellery Federation Chairman Haresh Soni told PTI.
Retail jeweller Gitajali Group's Chairman and Managing Director Mehul Choksi said overall gold sales are down by 25 per cent. “There has been a shift in buying trend. We expect diamond sales to be higher by 25 per cent from last year.”
