Gold prices have reached new heights in India at this time. Gold is being sold at around Rs 81,000 per 10 grams in Delhi, while the price of silver has crossed Rs 1 lakh per kilogram. Due to this, there is a possibility of a decrease in the sale of jewelry.

Sales decline on Dhanteras.

Jewellery wholesalers and retailers believe that sales will decline on Dhanteras this year. Suvankar Sen, Managing Director of Senco Gold and Diamonds, said that this year the volume may decline by 10-12% compared to last year. However, in terms of value, sales may increase by 12-15%.

Lack of customer interest

Gyanshekhar Thyagarajan, co-founder of Comtrendz Research, said that the increase in prices has reduced the interest of customers. But he also believes that with time people get used to the high prices and the demand increases again.

expectations from festivals

Saurabh Gadgil, Managing Director of PN Gadgil, said that it is expected to reach last year's level. TS Kalyanaraman, Managing Director of Kalyan Jewelers, said that the number of customers has been good in the second quarter, due to which sales are expected to improve during the festivals.

The surge in gold buying?

Sachin Jain, regional CEO of the World Gold Council, said that even though gold prices are at a record high, there may be a surge in gold purchases again due to festivals. This indicates that customers' interest is still intact.

Although gold prices are very high, the expectations of purchases during the festive season are giving positive signals ftothe sellers. As the festivals are approaching, the sale of jewelry may improve. It will be interesting to see whether customers will come forward to buy gold this time or not.