<p>With investment in shares becoming risky, gold has emerged as the best bet among investors’ portfolio. Market analysts say that gold has given a 25 to 30 per cent returns in the past eight years.<br /><br />Having now retreated to Rs 24,820 per ten gram from a peak price of Rs 29,000 in the second week of September, retailers are now expecting a 15 to 20 per cent growth in sales volumes, As gold prices is still higher than last year, the growth in terms of value is expected to be nearly 35 to 40 per cent over the previous year. <br /><br />Tanishq Head of Marketing Bhuwan Gaurav said, “Dip in gold prices has pushed up sales. However, it is difficult to quantify the impact as it coincided with the start of the festive season which is the onset of the buying season. Tanishq has seen a healthy double digit growth over the last year.” Tanishq has roped in Amitabh and Jaya Bachchan in a new advertising campaign for the festive season. Approximately 15 per cent of annual sales of Tanishq comes during festive season.<br /><br />Prices started cooling after touching the peak. Analysts say that international gold prices have a strong resistance at around $1,550 an ounce, and it also has strong inverse correlation with the strength of the dollar against other major currencies. Since, globally, gold is priced in dollar terms, in India too, the rupee-dollar exchange rate plays a major role in determining the price of the yellow metal.<br /><br />C Krishniah Chetty & Sons Managing Director Vinod Hayagriv said that dip in gold rates coincided with Diwali and with the end of the Paksha period. “Our Rate Protection Plan has helped customers even when prices were high. Now with prices going down they will benefit more from attractive pricing across gold, diamonds and silver,” said Hayagriv.<br /><br />Taking note of the buoyant mood, CKC has started promotional events like “What’s Brewing” where select range of jewellery are marked red, yellow and green tags with different levels of discounts. <br /><br />Amrapali Jewels CEO Tarang Arora said that owing to the dip in gold prices prior to Diwali, sales have gone up by 10-15 per cent across markets.<br /><br />“Sales during June and first two months of second quarter (July and August) this year were slow with people holding back their desire to buy jewellery. The mood was to wait for prices to come down. With current downswing, we expect customers to buy more jewellery again as it is a double bonanza,” said Bangalore Jewellers Association Secretary Venkatesh Babu. With increasing preference for fashionable and light-weight jewellery, as against traditional designs, retail jewellers are expecting a good demand this season.</p>
<p>With investment in shares becoming risky, gold has emerged as the best bet among investors’ portfolio. Market analysts say that gold has given a 25 to 30 per cent returns in the past eight years.<br /><br />Having now retreated to Rs 24,820 per ten gram from a peak price of Rs 29,000 in the second week of September, retailers are now expecting a 15 to 20 per cent growth in sales volumes, As gold prices is still higher than last year, the growth in terms of value is expected to be nearly 35 to 40 per cent over the previous year. <br /><br />Tanishq Head of Marketing Bhuwan Gaurav said, “Dip in gold prices has pushed up sales. However, it is difficult to quantify the impact as it coincided with the start of the festive season which is the onset of the buying season. Tanishq has seen a healthy double digit growth over the last year.” Tanishq has roped in Amitabh and Jaya Bachchan in a new advertising campaign for the festive season. Approximately 15 per cent of annual sales of Tanishq comes during festive season.<br /><br />Prices started cooling after touching the peak. Analysts say that international gold prices have a strong resistance at around $1,550 an ounce, and it also has strong inverse correlation with the strength of the dollar against other major currencies. Since, globally, gold is priced in dollar terms, in India too, the rupee-dollar exchange rate plays a major role in determining the price of the yellow metal.<br /><br />C Krishniah Chetty & Sons Managing Director Vinod Hayagriv said that dip in gold rates coincided with Diwali and with the end of the Paksha period. “Our Rate Protection Plan has helped customers even when prices were high. Now with prices going down they will benefit more from attractive pricing across gold, diamonds and silver,” said Hayagriv.<br /><br />Taking note of the buoyant mood, CKC has started promotional events like “What’s Brewing” where select range of jewellery are marked red, yellow and green tags with different levels of discounts. <br /><br />Amrapali Jewels CEO Tarang Arora said that owing to the dip in gold prices prior to Diwali, sales have gone up by 10-15 per cent across markets.<br /><br />“Sales during June and first two months of second quarter (July and August) this year were slow with people holding back their desire to buy jewellery. The mood was to wait for prices to come down. With current downswing, we expect customers to buy more jewellery again as it is a double bonanza,” said Bangalore Jewellers Association Secretary Venkatesh Babu. With increasing preference for fashionable and light-weight jewellery, as against traditional designs, retail jewellers are expecting a good demand this season.</p>
