The Hindu : Karnataka / Bangalore News : Customers hoping for fall in gold price this season

Online edition of India's National Newspaper
Wednesday, Oct 19, 2005

Karnataka

Karnataka - Bangalore

Customers hoping for fall in gold price this season

Special Correspondent

BANGALORE: The "jewellery season" has started. Apart from marriages there are festivals such as Deepavali, Ramzan Id and Christmas to shop for.

The beginning of the season has been a mixed one, say those in the jewellery business. Not just because prices have gone up by about Rs. 60 to Rs. 100 per gram over the past three months but also many customers want to wait for the latest designs to hit the stores. Ironically, the trend is retro and lightweight traditional designs. Also, large earrings and nose rings and chunky bangles, bracelets and necklaces are in vogue.

"White gold is the look of the season and much in demand by young women," says Sanjay Bantia, proprietor of M.B. Jewellers on Richmond Road. Gold is now Rs. 666 a gram, a figure much higher than last year's. Silver jewellery is another favourite this season and silver coins continue to be in demand for the traditional Lakshmi Puja during Deepavali.

Simpler designs are preferred for platinum jewellery, which is gathering an increasing following, according to jewellers.

Proprietor Gautam Chand of Navrathan, a jewellery store on Mahatama Gandhi Road, says customers are not buying gold as yet in the hope that the price will come down. He says this may not happen, as there are many in the trade who are keen on keeping prices high even if it tells on volume. The craze for white gold may not last long either, he adds. "Visually there is little difference between new silver jewellery and white gold. People want the difference that yellow gold shows," he says.

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