New Delhi: Those looking forward for buying gold this Diwali are caught in two minds as the surging price of gold and silver have played a spoilsport for their dreams. It is to be noted, the yellow metal has seen an enormous rise of Rs 7,000 since last Diwali while silver has almost doubled to above Rs 53,000 per kg. Gold dwindling around Rs 27,000 now is expected to reach Rs 30,000 per 10 grams until the end of this year, as foreseen by the business experts.

However, a slight dip in the gold price ahead of Diwali has brought a ray of hope for the customers as well as the gold merchants. The sluggish gold sale which had taken a beating amidst the skyrocketing prices has witnessed a slight improvement ahead of the festive season.

Nonetheless, the customers and the shopkeepers are trying to make hay while the sun shines.  Gold is not just bought as jewellery but also as a viable investment option in form of bars and coins. The jewellery brands have launched lucrative offers to allure customers to the market. The tradition of gold jewelry embedded deep in our culture has been a good omen for prosperity blooming in the bullion market even in the trying economic conditions.

The artificial jewellery with exemplary works of excellence has come as a boon for quenching the thirst of the customers but has given a huge blow to the gold sellers sweating hard in luring customers to their doorstep by gifts and offers.

While, Tanishq is offering 20 percent flat discount on sale of a single diamond product for above Rs 2 lakh, the brand is also taking care of the small buyers by gifting 24 karat gold lamp with every sale of above Rs 10,000.

Gagan, Store Manager of Tanishq, Preet Vihar says, “We are providing advantage to our big customers as well as keeping happy our small buyers too.”

Moreover, the big brands are offering lucky draws on big sales inviting more investment by the customers during the season. The PC Jeweller has given 10 percent off on purchase of diamond jewellery and has lunched lucky draw gifts of diamond jewellery worth lakhs on buying jewellery above Rs 50,000 with bumper prize of a Mercedes Benz E-250.

The sellers have been diverting the gold buyers to diamond jewellery by offering many lucrative offers and discounts. Though, no discount is visible on gold, the jewellers have offered discounts on making charges of gold jewellery as PC Jewellers giving 15 percent discount and PC Chandra Jewellers giving 20 percent discount to sooth the gold buyers.

Ajay at Rajesh Gems and Jewellers, Lajpat Nagar said, “We are offering 5 percent making charges on gold jewellery which we are offering at Rs 21,390 per 10 grams to maintain our cliental amid the scorching gold prices.”

The alternate trends like swarovski, polki, kundan, crystal and platinum have also emerged as a respite for those looking for options other than gold, but the masses are yet to catch up with the inclination.  

Ruchi Kaushal