Soaring gold prices no dampener for Festival of Lights

That gold prices have been soaring at Rs 3,000 per gram has not dampened the festive spirit of people in Mysuru who thronged jewellery shops on Dhanteras on Monday, marking the beginning of Deepavali. It is believed that the purchase of gold ornaments, silver items and utensils on Dhanteras brings wealth and prosperity. PTI photo

That gold prices have been soaring at Rs 3,000 per gram has not dampened the festive spirit of people in Mysuru who thronged jewellery shops on Dhanteras on Monday, marking the beginning of Deepavali. It is believed that the purchase of gold ornaments, silver items and utensils on Dhanteras brings wealth and prosperity.

Deepavali, celebrated by Hindus all around the world, is being celebrated on four days, from November 5, to mark Dhanteras, followed by Naraka Chaturdashi on November 6, Lakshmi puja on November 7 and Balipadyami on November 8.

With the Supreme Court restricting the time for bursting crackers for just two hours in a  day, the festival of lights is in focus this year. The bursting of crackers in Mysuru is allowed from 8 pm to 10 pm. Stalls selling crackers, which used to see brisk business, are yet to pick up pace. However, a few traders, who have set up shops on JK Grounds are hoping to do good business by Tuesday.

Deepavali denotes victory of good over evil and is celebrated by lighting earthen lamps. The sale of earthen lamps is brisk and is sold from Rs 2 to Rs 100 per piece, depending on the size and design.

Deepavali is considered the biggest shopping season in India where people shop, mainly for clothing, gifts and gold. Online shopping portals are luring customers with huge discounts, selling everything under the sky. Youths are glued to their smartphones, browsing the internet to get the best deals.

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Soaring gold prices no dampener for Festival of Lights

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