Kolkata, Nov 2, 2010 (Calcutta Tube/IBNS): Despite rocketing gold prices tipping over the Rs 20,000 mark, jewellery stores across the city reported brisk business on Tuesday, ahead of the Dhanteras.
[ReviewAZON asin=”B001QD010Y” display=”inlinepost”]Retail sales of coins and bars have risen over the past week and are only expected to go up as the Hindu festival falls on Wednesday when the entire country registers the highest gold sales in a year.
Dhanteras, the festival of wealth – during which it is considered auspicious to buy gold and silver, falls on the thirteenth day of the dark fortnight in the month of Kartik (Oct-Nov) and is celebrated two days before the festival of lights, Diwali.
In Kolkata, gold sales are estimated to increase up to 40-50 percent in some parts, however this year bullion sales are expected to exceed jewellery sales as buyers become increasingly conscious of the benefits.
And it’s not just the yellow metal. With Diwali on Friday the entire week is seen as the best of the year for the traders as people also queue up to buy silver and platinum jewellery.