Jewellers hopeful to attract buyers on Dhanteras

New Delhi, Oct 23 (KNN) Just two days ahead of Dhanteras - the day on which there is a custom to buy gold, silver or utensils, the jewellers feel that soaring gold prices and economic slowdown might impact the buyers.  

The price of yellow metal has reached Rs 39,430 per 10 grams.

While talking to KNN India over gold price, Ashok Kumar, General Secretary, Delhi Jewellers Association (DJA) expressed hope of good business and said, ''Though the business is down but at the same time demand for gold rises on the occasion of Dhanteras. So something good can be expected. There are 30 to 45 per cent chances that the market will flourish.''

However, on Tuesday, Gold prices in India fell for third day in a row, tracking muted global cues. On MCX, gold prices were down 0.11% to Rs 37,850 per 10 gram. After hitting highs of about Rs 40,000 last month, gold prices have fallen sharply and are now about Rs 2,150 per gram from their record highs.

Silver prices too muted today, down 0.1% to Rs 45,387 per kg. In global markets, gold prices were flat at USD 1,484.12 per ounce as global equity market sentiment improved as stocks cheered progress in trade talks between the US and China.      

On being asked, about the stability of the gold market, Kumar replied, ''It will take time to be stable and presently, i don't think so, it will be too early to comment on the this.''

He said, "Gold prices have risen due to international factors, prices have nothing to do with the local factors. Local demand is very less." (KNN Bureau)

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