Sellers beam as gold acts pricey this Diwali

Rs 16,010 per 10 gm on Dhanteras today

Jewellers have been rubbing their hands in glee as they expect several Mumbaikars to buy gold on Dhanteras today.

And the fact that standard gold will cost Rs 16,010 a tolau00a0an increase of Rs 80 from Tuesday's rate makes today a good day for them.

Thirteen, they say, is lucky for some and unlucky for others, but gold sellers are geared up to sell standard gold at a whopping rate of Rs 16,010 per 10 gram on Dhanteras today.

"Sellers are thrilled with the current price of gold, as dhanteras is a day gold is bought as a ritual.



The expectations that gold prices will drop anytime in the near future have been put aside," said Ashok Minawala, chairman of the All India Gems and Jewellery Association.

All city jewellers come under this association.

The high price of the yellow metal is no bar for Charul Mehta (38), a Ghatkopar housewife.u00a0"Price rise or not, we have to buy gold.
u00a0
My in-laws from Ahmedabad are celebrating Diwali in Mumbai this year, so we all will buy gold today. If the price does not go down, it will definitely affect what I buy in future for my personal use."

Low rate

Buyers who bought their share of gold before the prices shot up are happy.

Mulund resident Nikki Sachdev (24), a flight attendant who is to wed this November, said, "We bought most of my jewellery when the gold price was Rs 13,000 per 10 gram a year ago, but I will have to buy some necessary gold items at the ongoing price too."

Many sources, however, fear that due to the high price, there may be a 50 per cent drop in the sale of gold
this Diwali.

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Last year on Dhanteras, gold was priced at Rs 12,070 per 10 gram.

The cost of silver was Rs 16,600 per kg.