Ahmedabad:
Gold glitters bright at Gujarat's markets. And there's no shortage of takers.
In fact, despite the tough economy, sales could touch a new high. Shopkeepers expect business to touch Rs 100 crores during the festival season.
That's double last year's collections and nearly 20% higher than the sales in 2007.
''The prices have gone up from Rs. 12,000 to about Rs. 16,000. Despite a Rs. 4,000 increase, there has been a huge increase in sales this year. It's heartening for us given what happened last year,'' explains Manoj Soni in between dealing with his customers at AB Jewellers.
Dealers say the gold rush is based on a more positive sentiment in the markets and in business. Also, as the dollar plummets, investors in international markets are shifting their funds to gold.
And so shoppers like Birwa Patel are happy to spend their savings on a gold ornament or two. He says, ''This is a kind of investment that will give good returns once the prices go up further."
In fact, despite the tough economy, sales could touch a new high. Shopkeepers expect business to touch Rs 100 crores during the festival season.
That's double last year's collections and nearly 20% higher than the sales in 2007.
''The prices have gone up from Rs. 12,000 to about Rs. 16,000. Despite a Rs. 4,000 increase, there has been a huge increase in sales this year. It's heartening for us given what happened last year,'' explains Manoj Soni in between dealing with his customers at AB Jewellers.
Dealers say the gold rush is based on a more positive sentiment in the markets and in business. Also, as the dollar plummets, investors in international markets are shifting their funds to gold.
And so shoppers like Birwa Patel are happy to spend their savings on a gold ornament or two. He says, ''This is a kind of investment that will give good returns once the prices go up further."
