Gold continues to reign supreme
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The rate per gram might hit
the roof, more beautiful, precious and trendy metals might make their
presence felt in the market, and the taste of the youngsters might
change with every season. But what's still everybody's
favourite when it comes to buying for Dhanteras is the ol' yellow metal
-gold. Yes, irrespective of the many options that one is pampered with
in terms of precious jewellery -be it diamond or platinum or even
rhodium -jewellers across the city vouch for the fact that the demand
for gold jewellery has increased in the past few weeks, with people
placing orders days in advance.
GOLD IS TRADITIONAL
Dhanteras marks the beginning of the five-day Diwali festival and on this day , people worship Goddess Laxmi and pray that they be blessed with prosperity .This day is of utmost impor tance to the business community and they mark the festival by purchasing precious metals.And for time immemorial, precious metal has been synonymous with gold. Says Tarun Mehta, who owns a transport company , “Traditionally , our family has always bought gold during Dhanteras. And that's because it's considered a pure metal. Gold is auspicious as well.“
Mrinalini Khatri, a homemaker, seconds him, “It's auspicious to buy any form of dhan, and many prefer gold or silver.It's a form of good luck. Legend has it that gold was used even by gods. So, every Dhanteras, we buy at least one article in gold.In fact, we also place our old gold jewels in puja and worship them.“
GOLD IS AN INVESTMENT
Though the rate of gold in the market has been fluctuating in recent times, it has not deterred people from buying gold this Dhanteras. According to Raam Mishra, who owns a jewellery shop, a minimum of 50 people have ordered gold articles -necklace, earrings, bangles and rings predominantly -in the last one week. “They have have pre-booked the designs they want with a token advance. My customers have told me they will come to the shop on Dhanteras and get delivery of their `dhan',“ he adds.
Market reports suggest that the price of gold has dropped by a minimum of 30% in the last two years. But, number of people investing in the yellow metal has not come down as it is considered an asset during financial emergencies. Says Phani Kreshna, a banker and a stock broker, “Gold is a liquid asset and comes handy when you are in urgent need of money . It also reduces portfolio risk. Also, one can buy it in any form -jewellery , gold coins, gold bars or gold exchange trade funds. Also, if you are looking for a cheaper variety of gold, there are always 18, 14 and 10 karat gold.“
The resale value of pure gold is also higher than those of other precious metals. Raam adds, “You can exchange your old gold for newer ones. And during festive seasons, shops always come up with offers, either by giving a discount or doing away with wastage charges or in the price of gold as such.“
Dhanteras marks the beginning of the five-day Diwali festival and on this day , people worship Goddess Laxmi and pray that they be blessed with prosperity .This day is of utmost impor tance to the business community and they mark the festival by purchasing precious metals.And for time immemorial, precious metal has been synonymous with gold. Says Tarun Mehta, who owns a transport company , “Traditionally , our family has always bought gold during Dhanteras. And that's because it's considered a pure metal. Gold is auspicious as well.“
Mrinalini Khatri, a homemaker, seconds him, “It's auspicious to buy any form of dhan, and many prefer gold or silver.It's a form of good luck. Legend has it that gold was used even by gods. So, every Dhanteras, we buy at least one article in gold.In fact, we also place our old gold jewels in puja and worship them.“
GOLD IS AN INVESTMENT
Though the rate of gold in the market has been fluctuating in recent times, it has not deterred people from buying gold this Dhanteras. According to Raam Mishra, who owns a jewellery shop, a minimum of 50 people have ordered gold articles -necklace, earrings, bangles and rings predominantly -in the last one week. “They have have pre-booked the designs they want with a token advance. My customers have told me they will come to the shop on Dhanteras and get delivery of their `dhan',“ he adds.
Market reports suggest that the price of gold has dropped by a minimum of 30% in the last two years. But, number of people investing in the yellow metal has not come down as it is considered an asset during financial emergencies. Says Phani Kreshna, a banker and a stock broker, “Gold is a liquid asset and comes handy when you are in urgent need of money . It also reduces portfolio risk. Also, one can buy it in any form -jewellery , gold coins, gold bars or gold exchange trade funds. Also, if you are looking for a cheaper variety of gold, there are always 18, 14 and 10 karat gold.“
The resale value of pure gold is also higher than those of other precious metals. Raam adds, “You can exchange your old gold for newer ones. And during festive seasons, shops always come up with offers, either by giving a discount or doing away with wastage charges or in the price of gold as such.“
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