Decline in gold rate attracts no buyer
Posted on: 12/Mar/2014 4:39:04 PM
Gold rate in the past few days has been declining gradually and this has obviously created an impact on sales at jewelry stores across the city. This yellow metal was priced Rs 2835 per gram on Tuesday, the 11th March. Comparing this with the rate on 1st March, it is forty rupees lesser. This decrease in gold rate is because of gold price fluctuation in the international market, say jewelers. But, confusingly, the decrease has not shown any signs of attraction for the buyers.
Speaking to a gold jeweler, he states summer is a dull season for sale of gold. Additionally, this time, there are other factors affecting the sale too. Gold sale is decreased by 20 to 30 per cent this month. There are two reasons for this decline: one is the exam season and other is March being the last month of the financial year, said regional chairman of All India Gem and Jewelry Trade Federation, N. Ananthapadmanabhan.
