Price rise no dampener, Dussehra sales up

Gold 20% dearer this year, but sales show upward trend

Gold is glittering this Dussehra and though prices have soared by 20 per cent since last year, sales are picking up. The Saraf Association, a body of gold traders, is hoping sales will go up this year unlike the low of last Dussehra. They expect sales to maintain the upward trend till Diwali.

"Last year was a flop show with recession reflecting on sales. This year, people are slowly coming out of it and things are improving,'' said

S N Ranka, president of the Saraf Association, Pune.

The rate of 10 gm gold is Rs 31,300 now while it was Rs 26,300 last Dussehra. Last year the price rise was sudden. This year there has been no change in rates for the last 15 days. "The rates depend on the international market and as of now there is no change," Ranka said.

There are nearly 2,500

shops under the Saraf Association and the members have introduced gifts with every purchase for the festive season. A lucky draw is being taken out this year. Association members said special gifts that every household would find useful were being introduced.

Buyers are also making the most of the season, when gold is in high demand. Most jewellery shops have been witnessing a rush and more is expected during Diwali. Gold rates are not showing any signs of going down and people are ready to buy anyway.

"We know the rates will not decrease. We might as well get used to this rate. We are going ahead with our purchases,'' said Salome Wagh, a resident of Kothrud.

Another buyer Gayatri Hosmane said she had been saving to go for the big buy during Dussehra.

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