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Gold rush ahead of ‘Dhanteras’ tomorrow

Bhubaneswar: Despite price of gold hitting an almost six-year high, markets and jewellery shops across the state witnessed a huge rush on Sunday ahead of auspicious ‘Dhanteras’ or ‘Dhanatrayodashi’, the first day that marks the festival of Diwali tomorrow.

A day before the propitious day, people across the state including the Twin City were seen making beelines for buying gold and silver.

There is a popular belief that buying gold and silver on this “auspicious” day brings prosperity. The occasion offers the buyers a reason to buy gold and silver ornaments and the jewelers even give more reasons to attract customers with exciting offers.

According to reports, a wide range of new designs of gold and silver ornaments have come to the market this season, increasing the curiosity of people and attracting huge crowds.

Despite the high prices of gold, the customers have started rushing to the jewellery shops to buy the ornaments. Adding to the ornaments the customers are showing a great interest in buying gold coins of Goddess Lakshmi and Lord Ganesh.

“Like every year we are here to buy gold ornaments ahead of the occasion of Dhanteras tomorrow as there are good collections of ornaments this year. We believe that buying gold and silver on Dhanteras brings happiness and prosperity in life,” said a customer.

On the other hand, Jewelry shops offered attractive schemes and discounts in an attempt to attract more customers. Whereas some shops have announced lucky draw system, other shave offered no making charges.

“We are providing a maximum discount of 35% over the making charges for customers and extra 7% for buying other materials on the occasion of Dhanteras. We hopeto touch the target of Rs 3 crore tomorrow,” owner of Labanya Jewellers in Bhubaneswar, Satyendra Mishra said.

Tough competition, however, can be seen between various jewellery brands.

Amit Prasad, owner of M.N and sons Jewellary in Rourkela, said “For the first time we have recorded zero making charge of 916 gold hallmark ornaments for ‘Dhanteras’ but the offer is going to continue till November 15.”

Meanwhile the price of gold is a bit higher this year as the cost per 10 gram for 22 carat gold is Rs 31,850. Despite the high prices, the jewellers are expecting better sales and good business this year.

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