NEW DELHI: Gold and jewellery gross sales are anticipated to have long gone up via as much as 15 per cent on the auspicious instance of 'Dhanteras' on Monday as consumer demand revived on studies of additional soar in the yellow steel charges in the coming weeks.
The buying all over the morning industry remained subdued, but it surely picked up later as keen shoppers indulged in token buying, while some took supply of their wedding ceremony jewelry. There was once extra demand for cash in comparison to jewelry.
Even organised gamers like P C Jewellers and Kalyan Jewellers are anticipated to have noticed better gross sales as high quality and higher designs at competitive costs attracted extra footfalls.
Unorganised jewelry gamers in India — the world's 2nd largest purchaser of the dear steel — make up for kind of 70 per cent of the rustic's gold gross sales.
Dhanteras is considered to be an auspicious day for buying gold, silver and different valuables and is largely celebrated in northern and western parts of India. The buying continues until overdue night time.
"Consumer demand has revived on reports of further increase in gold rates up to Rs 35,000-40,000 per ten gram in the coming weeks due to weak rupee. We estimate sales to be higher by up to 10 per cent than the year-ago," All India Gem and Jewellery Domestic Council (GJC) Chairman Nitin Khandelwal.
Gold costs are ruling top at Rs 32,690 per 10 gram on Monday in the national capital as in opposition to Rs 30,710 per 10 gram on the Dhanteras day in 2017.
"Anecdotal feedback from the industry suggests that though footfalls seems to be good, demand could be moderate," World Gold Council (WGC) India Managing Director Somasundaram PR stated.
Among organised gamers, P C Jewellers Managing Director Balram Garg stated, "We are seeing 10 per cent growth in volumes and 15-18 per cent in value terms compared to last Dhanteras."
There was once demand for each gold and diamond jewelry at its 95 shops unfold around the nation, he added.
Kerala-based Kalyan Jewellers Chairman and Managing Director TS Kalyanaraman stated, "We have seen positive momentum this Dhanteras and are expecting 8-9 per cent increase in revenue over last year based on early data."
The key contributors for this build up is the secure shift of clientele from unorganised to organised gamers like Kalyan, he stated. The jewellers operates 100 shops in India.
"We are seeing growth all across our stores. Footfalls are gaining momentum from late afternoon. We are expecting better sales and a healthy double digit growth," Titan Company Senior Vice President (retail and advertising jewelry department) Sandeep Khulhalli stated.
As gold costs are ruling top, the demand is extra for small to medium measurement jewelry, especially finger rings, earrings, bangles among others, he added.
Echoing a identical pattern, WHP Jewellers Director Aditya Pethe stated that the corporate has met the anticipated sale goal with 10-20 per cent growth in footfall, while Anmol Jewellers founder Ishu Datwani stated he sees 15-20 per cent soar in gross sales on the Dhanteras day.
Stating that there was once surge in gold and silver cash in spite of liquidity crunch and top costs, Kundan Group Director Vidit Garg stated the corporate sees its coin gross sales to double this time from 75,000 items sold in the year-ago.
The city-based Khanna Gems Pvt Ltd Managing Director Pankaj Khanna stated the corporate has got into the bullion business this 12 months and sold 20 kg of silver cash Monday. The gross sales had been better than expectations.
India Bullion and Jewellers Association (IBJA) director and PNG chairman and managing director Jewellers Saurabh Gadgil stated: "We are expecting 10-12 per cent growth in gold and jewellery sales in volume terms and 25 per cent jump in diamond jewellery sales."
Appreciating gold worth may be prompting costumers to opt for gold, he added.
However, gold refiner MMTC-PAMP India Managing Director Rajesh Khosla stated that marketplace was once subdued as there was once a basic reluctance to go into the marketplace. "Much of our demand for coins is from corporate this time."
Ideally, gold charges should were round Rs 30,000 per ten grams, but the costs are ruling over Rs 32,000 per ten gram because of rupee depreciation.
"The market is not able to adjust the increase of Rs 2,000 per ten gram," he added.
The buying all over the morning industry remained subdued, but it surely picked up later as keen shoppers indulged in token buying, while some took supply of their wedding ceremony jewelry. There was once extra demand for cash in comparison to jewelry.
Even organised gamers like P C Jewellers and Kalyan Jewellers are anticipated to have noticed better gross sales as high quality and higher designs at competitive costs attracted extra footfalls.
Unorganised jewelry gamers in India — the world's 2nd largest purchaser of the dear steel — make up for kind of 70 per cent of the rustic's gold gross sales.
Dhanteras is considered to be an auspicious day for buying gold, silver and different valuables and is largely celebrated in northern and western parts of India. The buying continues until overdue night time.
"Consumer demand has revived on reports of further increase in gold rates up to Rs 35,000-40,000 per ten gram in the coming weeks due to weak rupee. We estimate sales to be higher by up to 10 per cent than the year-ago," All India Gem and Jewellery Domestic Council (GJC) Chairman Nitin Khandelwal.
Gold costs are ruling top at Rs 32,690 per 10 gram on Monday in the national capital as in opposition to Rs 30,710 per 10 gram on the Dhanteras day in 2017.
"Anecdotal feedback from the industry suggests that though footfalls seems to be good, demand could be moderate," World Gold Council (WGC) India Managing Director Somasundaram PR stated.
Among organised gamers, P C Jewellers Managing Director Balram Garg stated, "We are seeing 10 per cent growth in volumes and 15-18 per cent in value terms compared to last Dhanteras."
There was once demand for each gold and diamond jewelry at its 95 shops unfold around the nation, he added.
Kerala-based Kalyan Jewellers Chairman and Managing Director TS Kalyanaraman stated, "We have seen positive momentum this Dhanteras and are expecting 8-9 per cent increase in revenue over last year based on early data."
The key contributors for this build up is the secure shift of clientele from unorganised to organised gamers like Kalyan, he stated. The jewellers operates 100 shops in India.
"We are seeing growth all across our stores. Footfalls are gaining momentum from late afternoon. We are expecting better sales and a healthy double digit growth," Titan Company Senior Vice President (retail and advertising jewelry department) Sandeep Khulhalli stated.
As gold costs are ruling top, the demand is extra for small to medium measurement jewelry, especially finger rings, earrings, bangles among others, he added.
Echoing a identical pattern, WHP Jewellers Director Aditya Pethe stated that the corporate has met the anticipated sale goal with 10-20 per cent growth in footfall, while Anmol Jewellers founder Ishu Datwani stated he sees 15-20 per cent soar in gross sales on the Dhanteras day.
Stating that there was once surge in gold and silver cash in spite of liquidity crunch and top costs, Kundan Group Director Vidit Garg stated the corporate sees its coin gross sales to double this time from 75,000 items sold in the year-ago.
The city-based Khanna Gems Pvt Ltd Managing Director Pankaj Khanna stated the corporate has got into the bullion business this 12 months and sold 20 kg of silver cash Monday. The gross sales had been better than expectations.
India Bullion and Jewellers Association (IBJA) director and PNG chairman and managing director Jewellers Saurabh Gadgil stated: "We are expecting 10-12 per cent growth in gold and jewellery sales in volume terms and 25 per cent jump in diamond jewellery sales."
Appreciating gold worth may be prompting costumers to opt for gold, he added.
However, gold refiner MMTC-PAMP India Managing Director Rajesh Khosla stated that marketplace was once subdued as there was once a basic reluctance to go into the marketplace. "Much of our demand for coins is from corporate this time."
Ideally, gold charges should were round Rs 30,000 per ten grams, but the costs are ruling over Rs 32,000 per ten gram because of rupee depreciation.
"The market is not able to adjust the increase of Rs 2,000 per ten gram," he added.
Gold glitters on Dhanteras despite high prices; sales up 15%
![Gold glitters on Dhanteras despite high prices; sales up 15%]()
Reviewed by Kailash
on
November 05, 2018
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