Residents prefer diamonds, pre-owned cars on Dhanteras

Neeraj Bagga

Tribune News Service

Amritsar, November 13

While sale of gold ornaments and other articles subdued in comparison to the last year on Dhanteras, a large number of people rushed to the markets despite the Covid-19 cases witnesses surge in the city.

With gold price hovering at its highest, people widened their choice of buying costly products. Residents preferred to purchase diamonds and two and four-wheelers.

Pankaj Khurrana, a jeweller, said customers became more pragmatic after their source of income was hit during the lockdown imposed in the wake of the Covid-19 outbreak. People preferred to buy small items and avoided investing in gold ornaments. He said residents purchased diamond-studded rings and earrings.

Charanjit Arora, another jeweller, said although the buying sentiment got improved during Dhanteras, yet customers were wary of investing in gold due to its high price.

The change was obvious as gold prices hovered around Rs 52,000 per 10 grams, more than 35 per cent higher (Rs 38,000) than last Dhanteras, he said. People also invested heavily in second-hand cars. Sports cars available in the range of Rs 1 crore were procured between Rs 30 to Rs 40 lakh. Those dealing in utensils and other household items recorded brisk business on this auspicious day. Rohan Kumar, a utensil trader, said footfall came near to the last year, but buyers preferred to purchase fewer items.