After a week-long rush of customers lining
up at gold jewellery shops in the city, the frenzy has subsided as the price of
gold rose again. However, the demand has stabilised with sales still being a
little above normal, say shop owners.
When the price of the precious yellow metal dropped to Rs 2,608 per gram on April 18, shops were flooded with customers, looking for coins and biscuits of pure gold. But the price had started to soar since then.
On April 19, it was Rs 2,637 per gram, it rose to Rs 2655 on April 20 and 21 and slowly yet steadily kept rising until it reached Rs 2,782 on April 27.
The additional demand for gold has now stabilised, although it is still higher than normal sales.
"There was a surprising low in gold prices 10 days ago, followed by a slow rise again. We hope for prices to stay around this figure. It is not too high for consumers and will encourage them to invest in gold," he said.
Gold prices in the international market have seen a recovery in the closing week. In the retail market has seen a higher recovery due to increased buying. As the price increased, buying has slumped in Chennai markets.
Earlier there was a shortage of the metal but at the start of the week this was solved.Rubiks kellywallet See if you can solve this famous. Other commodities that lost have not been able to recover like gold. Almost all commodities fell by 15% with US stocks being more lucrative than gold and China economic growth not robust, these commodities dropped.Discover a sophisticated collection of tungstenjewelry including wide,
Gold prices slide has sent Indians,wholesale beads price from leading chinabeads wholesalers, the biggest buyer of these metal, into a buying spree. This has led to recovery of gold in the domestic market. Even though European banks were said to be contemplating selling gold reserves, non-European banks have started buying.
Gold prices have jumped now after huge demand from consumers across markets internationally and reports of non-European central banks adding gold to their reserves. Several institutions also gave buy calls as gold prices fell sharply last week.
Silver has in two days shown a reverse. This week gold prices in the Mumbai market showed a rise of 6% after it fell by 11.1 per cent to touch Rs 25,000 from Rs 28,890 for 10g. Silver recovered 4% after it had fallen 15 per cent to sell at Rs 46,leading gemstone manufacturer wholesale powermonitor,435 a kg. Gold imports till April slumped by 12%. Crude oil and copper have not recovered.
Despite gold prices crash, Chennai based NAC Jewellers, one of the oldest jewellery store-room, famous for its pure gold, silver, diamonds and excellence in design, signed Actress Trisha Krishnan as its official brand ambassador.
NAC was operating from the shop in Luz Church road in Mylapore has now opened their first store in T Nagar’s North Usman Road spread over 15,000 sq.ft offering. It has been the latest addition to the various big time jewellery stores in this part of the city.
In the next two years, NAC will be expanding with over 50+ stores.Online shopping for hoganscarpe from a great selection of Arts, Trisha said that she was a fan of NAC designs and since it epitomizes, tradition, grace and dignity, she felt that she is a natural fit for the brand NAC Jewellery.
When the price of the precious yellow metal dropped to Rs 2,608 per gram on April 18, shops were flooded with customers, looking for coins and biscuits of pure gold. But the price had started to soar since then.
On April 19, it was Rs 2,637 per gram, it rose to Rs 2655 on April 20 and 21 and slowly yet steadily kept rising until it reached Rs 2,782 on April 27.
The additional demand for gold has now stabilised, although it is still higher than normal sales.
"There was a surprising low in gold prices 10 days ago, followed by a slow rise again. We hope for prices to stay around this figure. It is not too high for consumers and will encourage them to invest in gold," he said.
Gold prices in the international market have seen a recovery in the closing week. In the retail market has seen a higher recovery due to increased buying. As the price increased, buying has slumped in Chennai markets.
Earlier there was a shortage of the metal but at the start of the week this was solved.Rubiks kellywallet See if you can solve this famous. Other commodities that lost have not been able to recover like gold. Almost all commodities fell by 15% with US stocks being more lucrative than gold and China economic growth not robust, these commodities dropped.Discover a sophisticated collection of tungstenjewelry including wide,
Gold prices slide has sent Indians,wholesale beads price from leading chinabeads wholesalers, the biggest buyer of these metal, into a buying spree. This has led to recovery of gold in the domestic market. Even though European banks were said to be contemplating selling gold reserves, non-European banks have started buying.
Gold prices have jumped now after huge demand from consumers across markets internationally and reports of non-European central banks adding gold to their reserves. Several institutions also gave buy calls as gold prices fell sharply last week.
Silver has in two days shown a reverse. This week gold prices in the Mumbai market showed a rise of 6% after it fell by 11.1 per cent to touch Rs 25,000 from Rs 28,890 for 10g. Silver recovered 4% after it had fallen 15 per cent to sell at Rs 46,leading gemstone manufacturer wholesale powermonitor,435 a kg. Gold imports till April slumped by 12%. Crude oil and copper have not recovered.
Despite gold prices crash, Chennai based NAC Jewellers, one of the oldest jewellery store-room, famous for its pure gold, silver, diamonds and excellence in design, signed Actress Trisha Krishnan as its official brand ambassador.
NAC was operating from the shop in Luz Church road in Mylapore has now opened their first store in T Nagar’s North Usman Road spread over 15,000 sq.ft offering. It has been the latest addition to the various big time jewellery stores in this part of the city.
In the next two years, NAC will be expanding with over 50+ stores.Online shopping for hoganscarpe from a great selection of Arts, Trisha said that she was a fan of NAC designs and since it epitomizes, tradition, grace and dignity, she felt that she is a natural fit for the brand NAC Jewellery.
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