Dhanteras Gold Sales Face Slow Start Amid High Prices

Jewellers report slow Dhanteras sales start due to high gold prices. Anticipation of increased footfalls later in the day. Expectations for sales either to match or fall slightly below last year. Gold price decreases slightly, silver remains unchanged.

Dhanteras kicked off slowly this year, with jewellers bracing for modest footfalls initially. Despite the high prices of gold, expectations are set for an uptick in sales activity as the day progresses.

"We've had minimal foot traffic in the morning, likely due to people attending work. We anticipate a surge from mid-afternoon to late evening," shared Saiyam Mehra, chairman of the All India Gem and Jewellery Domestic Council, speaking to PTI. Jewellers expect overall sales to be slightly below or similar to last year's due to current gold price levels.

Saurabh Gadgil, chairman and managing director of PN Gadgil Jewellers, noted that the festival extends through Wednesday afternoon this year, offering businesses an extended opportunity to attract customers. Gold prices slipped by Rs 400 to Rs 81,100 per 10 grams on Monday, while silver prices remained stable.

(With inputs from agencies.)