Mumbai: Jewellers thrilled as citizens rush to buy gold

A woman tries gold ornaments at Pednekar Jewellers, Dadar, on Dussehra. Pic/Suresh Karkera

Gold glittered in the truest sense for the industry on Friday, with jewellers estimating a sale of Rs 200 crore. Considering the improvement in the Covid situation, they have high hopes during the festive season.

Ashok Minawala, the owner of Danabhai Jewellers and former chairman of All India Gem & Jewellery Domestic Council, said, "We saw lots of customers buying gold products on the occasion of Dussehra.

Footfall had started rising due to Navratri, but Friday turned out to be the best day. Compared to 2019, we thought we would fall short by 15 to 20 per cent, but Dussehra covered it all." Owner of Khandelwal Jewellers Nitin Khandelwal said, "After such a long time, customers were seen in the market."

Ashish Pethe, Council chairman and a partner at Waman Hari Pethe Jeweller, said, "On Friday morning, the market had a slow start, but it soon picked pace. By the end of the day, shops were filled with customers buying gold. We managed to sell more gold than expected."