We've hit the first stretch of the festive season and everyone is literally going for gold. With Rs 100 crore being doled out in free vouchers and gifts just in Delhi, it's easy to please your girlfirend. Size matters this festive season - it could be a big rock or a chunky gold neckpiece - women are queueing up to spend some serious money and The jewellery industry is polishing its act to make the year a glittering success. So what's the buzz about this Diwali?
While it may be hard to please your friendly neighbourhood grandmother, there is a lot for the less discerning! From jewellery fests to roadshows to bumper festival offers, it's a virtual goldmine out there. Over a 100 jewellers have collaborated in a scheme called the 'Lucky Lakshmi' offer, which gets you vouchers and scratch cards on every single purchase of Rs 3,000 and above and if you are super lucky, you can get 5 kilos of gold free! There are over a 100 crores worth of vouchers and gifts to be won.
In addition to that, major labels like Orra are offering 20 gram silver coins free with every purchase of 10,000 and more plus 1 gram gold coins free with jewellery worth more than Rs 25,000. The presence of jewellery counters at malls is making buying of jewellery so much more accessible. Also softening prices of the yellow metal have also resulted in the gold rush.
Gold prices have been volatile in the last few months because the European Central Bank sold some of its stock but with the start of festival fever causing an upsurge in demand, prices are expected to settle at around Rs 9,000/ounce.