Bhubaneswar: Jewellery stores across the State witnessed a brisk business on the pre-Diwali Dhanteras, which is regarded as the most auspicious occasion in the Hindu calendar for buying gold items and other precious metals.
The sales of precious metals in several cities and urban areas of the State saw a boost on the auspicious occasion on Dhanteras.
Media reports claimed about three quintals of gold jewellery and coins were sold in the State On Dhanteras. In value terms, the total turnover of the precious metals is Rs 160 crore across the State.
Fifty per cent of total sale was recorded only in the Capital city Bhubaneswar.
The sale of jewellries also shot up in towns like Berhampur, Cuttack, Sambalpur, Balasore, Jajpur, Angul, Rourkela and Jharsuguda on Friday.
The gold prices in the State were hovering around Rs 56, 000 per ten grams in Odisha. Many of the stores registered a high foot-fall during evening hours. Almost all stores have hiked their business hours in the Dhanteras week.
There was a huge demand for gold jewellery for day-to-day wear like chains and bangles. The demand from the young generation was for party-wear lightweight jewellery items like bracelets, earrings, small chains with pendants, jewellers said.
Buying gold, diamonds, and other precious items on Dhanteras is believed to bring good fortune. However, market experts dismissed the claim dubbing it business tactics.
“Gold might be considered as a good investment now-a-days. But, purchasing ornaments for household consumption would not be a means of investment. Those who want to invest in gold, may opt for paper gold which gives good returns instead of real metals. Gold purchase only on a traditional belief goes against the economy as the money ultimately goes to foreign countries,” said Trinath Lenka, a market expert.
