Jewellers in the city are expecting brisk business – double than usual – on the occasion of Guru Pushya Nakshatra. Raw gold and lightweight jewelry have been stocked and ready to be sold.
Rs 150 crore business in a day.
“Many clients have pre-booked the ornaments that they will buy today. Many will buy gold and silver bars to mark the auspicious occasion. We are getting very good business as thousands of marriages have been scheduled this year and the next,” said Pravin Shah, partner, Pooja Diamonds.
“This Guru Pushya Nakshatra is astrologically significant as we will be seeing a rare combination of guru and shani after a gap of 600 years.
So, we have already started getting bookings and anticipate a business of around Rs 150 crore on Thursday,” said Jigar Soni, President of the Jewellers’ Association Ahmedabad (JAA).
He said, “We have stocked up on raw gold, silver and platinum bars of different weights starting from 1 gram in gold and 10 gram in silver. Lightweight ornaments are also in demand and we have stocked the ornaments too.”
People have been turning to gold as bank interest rates have reduced, say jewellers. “You get almost 20 per cent return on gold against six per cent as bank interest. One can encash it during a vulnerable time,” said Rohit Zaveri, former president of JAA.
The gold and silver ornaments traders in Surat are also hopeful about high sales this year compared to last. They are also eyeing a whopping Rs 100 crore sale in a single day.
“We anticipate double the sales than previous years on the auspicious day and have received huge bookings from our customers. We hope to do good business as gold rates have been stable for a long time now and this is the ideal time to buy gold,” said Pravin Nanavaty, past president of Southern Gujarat Chamber of Commerce.
He said, “The marriage season is also in offing. This is a good sign for the industry that is looking at recovery after a bad spell of two years due to Covid-19. The customers have already started purchasing ornaments for the marriage season starting after Diwali.”
Rose gold, a fave
Delicate jewellery in 18-carat rose gold is the flavour of the season as it doesn’t tarnish and gives your piece a vintage look. It is particularly popular among women in the corporate sector as it looks formal, classy and can be worn every day. The soft colour of the jewellery goes well with a range of gemstones.
Besides, 18 carat jewellery is priced at an average of Rs 39500 per 10 gm as compared to Rs 44,500 for 22 carat gold. Rose gold is made by combining a specific amount of silver, copper and gold, making it durable and of high quality.
“Customers come asking for rose gold jewellery pieces as it is the latest trend though it debuted around eight years ago. Since a vast range of designs are available in rose gold, it is popular among women. You can wear it on an auspicious occasion and even daily,” said Jigar Patel, owner of a CG Road showroom.
Ashish Zaveri, Joint Secretary of Jewellers’ Association Ahmedabad (JAA) attributes the popularity of rose gold to reasonable prices and lighter weight. Another consumer Bhavita Panchal said, “I have bought rose gold sets for upcoming marriages. It looks novel, attractive and superior compared to yellow gold.”
