the stock market meltdown. Gold prices are down to Rs. 12,250(24K) from Rs.13,450 just 3 days ago. Earlier the stock market saw valuations eroding due to profit booking and now the gold investors have followed suit.
Gold buyers can heave a sigh of relief now albeit with some caution. Since the turmoil is going to continue it will be some more days before the dust settles on this.
This news comes almost at the end of the wedding season. So a lot of consumers had resorted to either exchanging their old jewellery or keeping jewellery purchases to a minimum. A lot of jewellers (including us) saw sales going down substantially upto even 85%. So with this news, even the jeweller community can now take off their oxygen ventilators.
Sone Pe Suhaga - Trusted Insights in Jewellery Retailing and Trade practises
KATHANA Jewellers' Official Blog
Pitampura, New Delhi.
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