Gold is losing its glitter
After a lacklustre Navratri, jewellers are in for a subdued Diwali as high gold prices dent consumer purchases. Sales of the yellow metal this Dhanteras are likely to fall to half of the nearly 40 tonnes every year, experts say. That has forced major retailers like Tanishq and Kalyan Jewellers to float promotional offers to woo customers. Gold has run up 20% this year, though it has cooled off a bit since crossing ?40,000 per 10 grams in August. What's driving the rally? Lower imports following a higher duty, the US-China trade war, and a weak economic outlook.
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Business Adviser for Sales & Marketing|Business Development|Channel Management|KAM for Industrial Power & Automation Products /Solutions
Our craze for yellow metal is beyond comprehension! Be it offerings in temples or festivals of any kind including festivities during marriage ceremony, we indians just can not control our lust towards gold. Unless we change this mindset of locking up our hard earned resources in such wasteful investments, deficit of our resources shall persist for longer time to come .