Nagpur bullion market expects Rs 100-125 crore of Dhanteras-Diwali sales

Activity is picking up in Nagpur's bullion market ahead of Dhanteras and Diwali. Jewellery and silverware purchases during the two festivals are expected to bring business of Rs 100 crore to Rs 125 crore in the city.

The auspicious Diwali and Dhanteras muhurat is not considered complete without jewellery. Even if the item bought is small, a purchase is made, and these small purchases keep the whole market buzzing.

Some jewellers are ready with offers, while others have put up large ranges. Crowds in the market are growing and will peak by Dhanteras. Despite high gold and silver prices, the bullion market shows no sign of a slowdown.

Mohit Sed of Batuk Bhai Jewellers said the season is going to run long this time and that Dhanteras and Diwali will be special. According to him, the wedding season will continue after Dhanteras and will sustain the market's vitality. He also said gold and silver remain in demand on every occasion in Indian tradition.

According to Viraj Seth of Batuk Bhai Sons, nobody wants to miss the Dhanteras muhurat and everyone buys something. People save through the year for it, so shopkeepers also have expectations. He said special preparations have been made this time too, with collections brought in from across the country, a good scheme and a special buyback plan.

Yash Londhe of Lodhe Jewellers said there are seven good wedding dates this time. Buying jewellery for a wedding is essential even for the smallest family. For this reason, the bullion market may see customers coming for a long period this year. According to him, people have already begun buying.

Harshal Darodkar, CA, of Meher Jewellers said gold and silver prices are currently seeing some decline, which is benefiting customers. Despite high prices, demand in the market remains good. Purchases for weddings, along with Diwali, have also begun.

Paras Rokde of Rokde Jewellers said the Dhanteras muhurat is very important, so everyone wants to buy something. This desire changes the mood of the market and raises sales. According to him, the tradition has continued for years and the belief remains strong among the new generation, which is good for the market.