Andhra Pradesh Journal

Business

People to Throng Marketplace as Dhanteras Falls Today

October 28
14:07 2016

dhanterasNew Delhi, Friday, October 28 – The five-day long festivities begin today with the onset of Dhanteras, which is considered one of the best days to get gold, silver, utensils and other useful things like cars and bikes. The day is auspicious for spending sums in buying the yellow and silver metals, which are not bought often unless it is wedding period or any other fortunate day.

They are all set to get gold and silver ornaments, bars or coins. People do Laxmi Pujan at home along with Deep Daan on the occasion. Prayers are offered to Dhanvantari, who is an avatar of Lord Vishnu, to seek his blessings for sound health for themselves and family.

As far as the trend of bullion market is concerned then demand for both gold and silver was usually up during peak wedding season. Lukewarm response most of the times took away sheen from the marketplace. This was commonly observed often this year too. But picture is to change today and it is predicted that buyers are to swarm bullion market, increasing the selling of both gold and silver.

A few years ago, people used to buy the precious metal as this is assumed a good investment which can be sold at the time of need. Customers may place order for rings, bangles, light-weight mangalsutra, necklaces, bracelets etc. Traders expect the yellow metal to regain shine. An all of a sudden decline in demand is observed from time to time as people feel it safer to by imitation jewelries that come at a low price compared to the items in gold. As a result of no big occasions in the recent past, selling of gold was affected too.

Some positives may be observed as rise in number of shoppers is highly likely today and in the coming days of the final quarter, since it being the time when most of the Indian festivals are celebrated vastly across the nation. An augment in purchasing of metals by the buyers is on the cards. This will make the gold & silver selling to lift up considerably after a long time. Besides this, demand of vehicles and smartphones is also expected by the enthusiastic crowd. Seeing buyers turning up in the shopping zones on Friday will indubitably spread a broad smile on the faces of traders by the end of the day.

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