Jewellers pin hopes on Dhanteras & Diwali for Gold sales

Jewellers are pinning high hopes on Diwali for a revival in demand, though they are expecting that the sales may fall by 20-40 per cent over last year’s festive business.
Rise in gold prices by 30 per cent in the last 3-4 months, higher import duty and economic slowdown have led to a subdued sentiment among consumers in the season of pre-Diwali sales, they said.
“We are hopeful of a surge in demand for jewellery ahead of Diwali and in the ongoing festive season. We are expecting a sequential growth of 30-40 per cent from the previous months,” Senco Gold and Diamonds Executive Director Suvankar Sen said.
Compared to previous year's Dhanteras and Diwali season, the sales are “expected to be lower by 40 per cent this time”, a trade body official said on condition of anonymity.
Dhanteras is considered to be an auspicious day for buying gold, silver and other valuables and is largely celebrated in n