BHUBANESWAR: Even as gold retailed at Rs 1,19,950 per 10 gram on Saturday, it did not dim the enthusiasm among people to purchase the yellow metal on the occasion of Dhanteras.
With the wedding season approaching, buyers thronged almost all the jewellery outlets in the Twin City, both big and small, in large numbers to buy gold on Dhanteras, which is considered an auspicious occasion for buying gold. While the exact volume of gold sales in the Twin City on the day is not known yet, jewellers said the purchases were primarily lightweight jewellery pieces. On the day, 10 gram of 22 carat gold was selling at Rs 1,19,950, a reduction of Rs 1,750 since Friday. Similarly, 24 carat gold sold at Rs 1,30,860 for 10 gram, also a fall of Rs 1,910 compared to the day before. The prices have significantly gone up this year as last year, cost of 10 gram of 22 carat gold was Rs 73,750 and that of 24 carat was Rs 80,450. In 2023, cost of 10 gram of 22 carat gold was Rs 56,000 and that of 24 carat was Rs 61,700.
“We had expected a good footfall despite a substantial increase in gold rate. Because, people have now understood that the cost will only go up further in the days to come,” said secretary of Odisha Jewellers’ Association Sourav Roy.
This year, however, people purchased lightweight pieces for weddings ahead. “Usually, people prefer heavy and chunky jewellery for weddings but this time since the price is so high, there has been a change in the designs to suit the buyers’ needs,” he added.
