Jewellery market glitters on Pushya Nakshtra

Despite high gold prices, jewellers in Gujarat rejoice amidst positive response from customers on the festive day of Pushya Nakshatra. According to gold market sources, jewellery buying went up by 20-25 per cent as against last year on the festive day.

"People buy gold not only for jewellery but also as investment. Moreover, increasingly the trend is tilting towards the latter, with several people buying gold coins and bars this year. The opening sales were very good compared to last year's Pushya Nakshtra day," said Bhayabhai Saholiya, president, Rajkot Bullion Merchant Association.

In Rajkot alone, buying increased by 15 to 20 percent, with jewellers doing an overall business of Rs 30-40 crore on Thursday.

 

“ Compared to last year gold prices are exorbitantly high. Yet, people came in hordes to buy gold at any price on Thursday," said Prabhudasbhai Parekh of Shilpa Lifestyle.