Kolkata: The festive spirit returned to B B Ganguly Street on Akshay Tritiya day following a slowdown caused by the fluctuating gold prices. Shop facades were already decked up with floral decorations and glittering lights. Amid a soothing weather, customers started arriving in bulk on late Friday evening.
Bablu Dey, president of Swarnashilpo Bachao Forum, was happy to see nearly 20% jump in sales, in value terms, across the shops.
“We had stocked light jewelery for the Akshay Tritiya. But the demand for heavy jewelery has surprised us,” he said. At Anjali Jewellers’ shop on B B Ganguly Street, the crowd had returned, keeping store managers busy attending them. “We have been witnessing a steady flow of customers since morning,” said Anarghya Uttiyo Chowdhury of Anjali Jewellers.
Gold prices at the international market however continued to remain volatile. During the day, 22 karat gold price for a bhori (10 gm) was Rs 69,910 and jumped to Rs 70,250 after 5 pm. In the international market gold, the price strengthened over apprehension of interest rate cuts by the US Federal Reserve this year.
Rupak Saha, zonal member of the Gem and Jewelery Trade Council of India, said sales had been strong since the festive season in Oct. “The prices started to come down over the past one month. This always creates confusion among buyers as they expect prices to fall further and wait,” Saha said. However, we are happy to see a happier mood this time.
According to Shubadip Roy of Bengal Jewellery, average ticket size for jewelery ranged between Rs 50,000 and Rs 1 lakh. “We have been getting a lot of queries over the phone and that was encouraging. Roy said.
Suvankar Sen of Senco Gold pointed at the trend of increasing interest in investing in gold even for investors with a very small budget. His company has started selling “gold beans” weighing 0.5 gm and 1 gm to clients. “We had a wonderful response for that as all of our stocks, both online and offline were sold by Akshay Tritiya. It had a very enthusiastic response from across ages and we have fallen short of supply,” Sen said. Gold prices surge, 24 karat gold exceeds Rs 75,000 per 10 grams. Buyers must understand factors affecting gold jewelery prices like gold cost, making charges, diamonds, gemstones. Vikas Singh explains gold pricing based on purity, karages, GST, Hallmarking charges, scenario calculation, BIS standards.
Gold prices surge, 24 karat gold exceeds Rs 75,000 per 10 grams. Buyers must understand factors affecting gold jewelery prices like gold cost, making charges, diamonds, gemstones. Vikas Singh explains gold pricing based on purity, karages, GST, Hallmarking charges, scenario calculation, BIS standards.
The article explores the popularity of wedding jewellery, traditional motifs, and everyday wear this year. It discusses the current trends in jewelery shopping, including the preference for classic designs with cultural value and the surge in purchasing due to attractive offers.
