NASHIK: We Indians always like to invest in gold jewellery. This shining metal has topped the list while spending money in festivals, celebrations, and marriages. As it provides financial security and liquidity, making gold an all time favourite in the wedding season. But, the gold market was disturbed for two years because of the outbreak of Covid-19. The restrictions on weddings and celebrations hampered the sales.
Chetan Rajapurkar of the Saraf Association, informed, “The gold rate fluctuated during the wedding season because of high demand. In reality, the gold rate is affected by international crises. Last Diwali, sales were down from 30 percent to 40 percent due to Covid-19. So, there is too much difference between last year’s and this year’s sales, because last year, due to COVID, people sold their jewellery to survive. This year, the picture has changed. As people trust the gold market, they are now purchasing gold again this year.”
He said that the sales have gone up and have set records this year. Compared to last year the market is now stable. Due to Covid-19 last year as weddings were restricted, people did not prefer to spend money on gold. Jewellery that lacks a gold tint is incomplete. When it comes to jewellery, gold is the most alluring to both men and women.
Gold represents purity, weddings, special occasions, and festivals, among many other things. Today’s bride conducts her research on current trends and pricing. Before purchasing her wedding jewellery, she may go to exhibits, read articles online, and talk with her friends and family. Deshdoot Times interacted with Nashikites and popular goldsmiths of Nashik to get a market review.
“The gold prices currently are fluctuating around Rs 50, 000 for 10 grams, while the silver prices are around Rs 70, 000 per kg. The price was greater last year, but sales were lower. The gold rate is determined by the share market. This year’s Diwali sales are up from last year’s. Fancy, ethnic designer jewellery is popular right now.“ – Rahul Jadhav, Shopkeeper
“We typically buy gold during the wedding season and festive seasons such as Akshay Tritiya, Padwa, and Dasara. In jewellery, I love a little fancy design, with modern design and a little heavy.” – Vanita Shetty, Consumer
“Whenever it comes to investing money I always prefer gold as it is easy to liquidate and options are available at every corner. I do invest little-little throughout the year, mostly during festivals. I love the simple design with an ethnic touch, with just some engravings and designs.” – Pooja Singh, Consumer
(Written by Samiksha Shetty and Pooja Mahajan, intern at Deshdoot Times)
