Makers of gold and diamond jewellery are anticipating rise of 20 to 25 percent in sales and market demand if gold rates don't change, due to approaching Diwali and wedding seasons. But they cautioned that increase in gold prices can reduce growing demands.
Shantibhai Shah, President of Gems and Jewellery Trade Council of India (GJTCI), informed that sales of gold and diamond jewellery can increase 20 to 25 percent during festivals. Reduction in gold rates and weddings following Diwali celebrations will contribute to rise in jewellery demands.
He added that few weeks back gold prices in local and foreign markets decreased, promoting sales in local areas. Prices are now rising at around Rs9,000 per 10 grams.
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