As Navratri marks the beginning of most Hindu festivals and celebrations over the next two months, Dussehra said to be the main occasion for buying gold. All the markets in Mumbai have flourished on the occasion of Dussehra festival and especially the Gold market. Ther traders are confident that today the Gold market will hit amazingly as the Gold rates are now stable, and there is Diwali and wedding season queued up so the buyers have many reason to buy gold coins or gold jewelry. Customers are pleased with the decline in gold prices since last two days. Along with gold, sale of vehicles on Dussehra will also see good number of customers. Specifically, the booking of two-wheelers has been made in large numbers, according to the vendors.
The prime shopping markets in Mumbai have been densely populated since Wednesday. Before Dussehra the gold prices had increased by two hundred rupees but on Wednesday, the prices fell a bit. Gold price is now Rs. 31,745 per 10 grams so there is a possibility that gold selling will benefit high time to gold traders. As the rupee is rising compared to the dollar, the gold and silver prices are also moving accordingly. There is a possibility of further rising gold prices in the backdrop of festivals. Gold and silver prices have created volatility as the rupee depreciated against the dollar. Analysts said that investors are afraid of uncertainty in the stock market and they will increase their investment in gold. On Wednesday, the rate of gold in Mumbai was down with Rs 20, it was Rs 31, 745 per 10 gram. Since the gold and silver prices have been stable for the past few months, traders are expecting good sale of gold this year.
Speaking about this, Saurabh Gadgil of PNG Jewelers said that customers have been positive for last few years to buy gold on Dussehra. Therefore, the Gold and Diamond market will be the first priority of customers this year. The gold market is likely to increase further in the coming period.
Good days expected for Real Estate
The Real Estate sector could not be stable yet from the recession since last few years. However, now there are multi-option homes available for Mumbaikars. Also due to the interest subsidy there is a rising demand from consumers for affordable housing. Developers feel confident that this sector will now become stable from recession.
Dadar market blooms
On Wednesday, on the eve of Dussehra, the Dadar market was very crowded. Mumbaikars get relief as the prices of ‘Zendu’ flowers (Marigold flower) have not gone up even during the season. The rates remain at Rs. 100 per Kg.
