Vijayawada: Heavy rush for gold jewellery this Diwali season

Vijayawada: After a gap of two years, the gold showrooms in Vijayawada witnessed heavy rush during Diwali festival. Gold price was also less in this month compared to the last few months. Due to the impact of Covid-19, gold and jewellery sales drastically declined in 2020 and 2021 and traders suffered huge losses due to lack of business. However, the scenario changed this year as customers enthusiastically purchased gold jewellery.

There is a tradition of buying gold articles and jewellery on Dhantrayodashi or Dhanteras, which is observed one day before Deepavali. Gold customers have thronged jewellery showrooms in Vijayawada, particularly located on MG Road and Governorpet.

In Vijayawada, almost all corporate showrooms witnessed rush on Saturday and Sunday. The showrooms also offered discounts also on the occasion. Compared to July and August months, gold price declined slightly in October. In July and August, 22 karat gold was sold at Rs 5,000 per gram and now the price was Rs 4,750 per gram in October. 24 karat gold prices were ranged between Rs 4,970 and Rs 5,000 per gram.

Lalita Jewellers, Vijayawada Manager Sk Shareef said that there was good response from gold customers this Diwali season. He said the customers have purchased different varieties of gold articles.

meanwhile, gold traders in One Town were disappointed this Diwali season, allegedly due to lack of parking facility. Most shops are located in narrow streets in the old city. The buyers are reluctant to visit the shops and showrooms in old city due to lack of vehicle parking facility.

S Satyanarayana, a gold trader in One Town, said gold traders were disappointed this year due to lack of sales. Despite having scope for doing business, traders could not attract customers due to lack of vehicle parking facility, he noted.