Login ID:
Password:
Partner Login
Contact Us : 7066511911

Indian Gold Jewelers Gear up for Dhanteras-Diwali as Sales Pick Pace

30 Oct 2020 8:40 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 


Mumbai (Commodities Control) – Healthy sales during a recent festival encouraged Indian jewellers to continue stocking up this week, while more supply started to make its way into Singapore and Hong Kong as dealers navigate around COVID-19-led bottlenecks.

Indians celebrated the Dussehra festival on Sunday, and now await Diwali and Dhanteras in November.

"Dussehra sales gave confidence to jewellers. They're now buying for Diwali," said a Mumbai-based dealer with a bullion importing bank.

Premiums of $1 an ounce were charged over official domestic prices, including 12.5% import and 3% sales levies, from $5 premiums last week. Local gold futures were trading around 50,500 rupees ($682.96) per 10 grams.

"Retail consumers are slowly adjusting to higher prices," said Aditya Pethe, director at Waman Hari Pethe Jewellers.


(Commodities Control Bureau)



       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Spot Turmeric Generally Muted amid Dull Demand, Carryov...
Spot Jeera Sheds Rs 10 in Unjha amid Reduced Arrivals; ...
Coriander Futures Crash Further Tracking Dull Spot Cues...
India Spices Export Offer Price - 24 NOVEMBER 2020
Spot Jeera Declines By Rs 10-25/20Kgs in Unjha, Rajkot;...
more
Top 5 News
Spot Turmeric Generally Muted amid Dull Demand, Carryov...
Vegoils Commentary: NCDEX Ref Soy oil stayed flat today...
Pulses Commentary: Chana future stayed flat, market’s ‘...
Oilseeds Commentary: Soybean futures take support of lo...
Chana Traded Mixed in Major Spot Markets
Top 5 Special Reports
USD/INR (Dec ‘20) – Bearish Price Trend / More Downside...
USD/INR (Nov ‘20) – Consolidating Near Key Support (74....
USD/MYR—
USD/CNY & USD/IDR
USD/ARS & USD/BRL—
Copyright © CC Commodity Info Services LLP. All rights reserved.