Gold Prices Drop By ₹42,000 In Gwalior, Jewellery Sales Rise Ahead Of Dhanteras And Diwali

Gwalior (Madhya Pradesh): Jewellery shops in Gwalior are witnessing a rise in customers ahead of Dhanteras and Diwali as gold and silver prices have fallen. Many people are buying jewellery before the festivals, fearing that prices may increase again in the coming days.

Instead of waiting for Dhanteras, customers are visiting jewellery showrooms to take advantage of the lower prices. Apart from festive shopping, people are also purchasing jewellery for the upcoming wedding season.

Necklace sets, gold chains, rings and other ornaments are among the popular choices.

Gold Prices Fall By ₹42,000

According to local traders, gold prices in Gwalior had earlier reached around ₹1.80 lakh per 10 grams. However, prices have now dropped to approximately ₹1.38 lakh per 10 grams.

This means gold has become cheaper by nearly ₹42,000 per 10 grams, bringing relief to customers who had been waiting for prices to fall.

A customer named Aarti, who visited a jewellery showroom, said she had come to purchase a necklace set weighing around five tolas.

She said gold prices were currently lower, making it a good time to buy jewellery. She feared that waiting until Dhanteras could mean paying more if prices increased again.

Jewellery Sales Rise By 20-25%

Local jewellery trader Pradeep said customer footfall in the market had increased by around 20 to 25 per cent following the fall in gold prices.

He claimed that the gold and silver market had earlier witnessed a sharp decline of nearly 70 per cent following the Prime Minister's appeal.

However, with prices coming down, customers have started returning to jewellery shops.

Traders said people were not only buying jewellery for Dhanteras and Diwali but were also preparing for the upcoming wedding season.

Many customers are purchasing ornaments in advance rather than waiting for an auspicious day.

Customers Fear Another Price Rise

There is still uncertainty over whether gold and silver prices will fall further or rise again in the coming days.

Customers believe that prices could increase during Dhanteras and the wedding season due to higher demand.

As a result, many are choosing to buy jewellery at the current rates.

The fall in prices has brought fresh activity to Gwalior's Sarafa market, with traders expecting the festive shopping rush to continue in the coming days.