Gold prices have dipped and that along with the lure of the festive season is seeing sparkles back in market

Diwali is the season to add that dazzle and sparkle in your life, and very obligingly the markets seem to comply. The price of gold that was about Rs 13,800 just days back is now hovering around Rs 11,800. Doors have started swinging again at jewelry stores around town as happy families rush in to do what we Indians do the best; buy gold!

Surendra Oswal, treasurer of Pune Saraf Association says, "This is the right time to invest in gold, with the global economy in a turmoil it is a stroke of fortune that right now during Diwali, prices are low."

Jay Parshottam of Para Amar Jewellers also elaborates on the sudden gold rush "There is a day to day fluctuation in the price of gold, up to Rs 1000 sometimes, so people have started buying in order to invest quickly.” This is a burgeoning trend that is catching up in stores across town and those who can are quickly stocking up on this magic metal. He further adds, "Most of my customers are buying pure gold coins or simple gold rings. We have not had that many orders for designing jewelry, it seems as if people want to buy gold purely for investment this time instead of buying as accessories also."

Shrikant Soni, floor manager at Tanishq showroom though observes that people are still playing it safe. "Now that the prices have fallen, people expect them to fall even more. So although sales have increased a bit, we still have not got that much of walk-in crowd. It is the festive season though so we have a lot of special offers for our customers and a Diwali collection called Aleya. On display will be real uncut diamonds set in 22 carat gold."

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