People stay away from buying gold jewellery in other parts due to high price

The tense situation in old city has led to nearly twenty per cent fall in sale of gold in the twin cities, traders said.

If that were so in the old city, sales have not picked up in other parts of the city because of the high price of the gold metal.

The current price of gold stood at Rs.2,998 per gram for 22 carat, while it was Rs.3,268 per gram for 24 carat on Monday.

No cheers

The festive season has not brought any cheer to the jewellers in the twin cities this year, said Ashok Kumar Gupta, joint secretary of Twin Cities Jewellers’ Association.

Despite the shops being decked up and special festive offers being extended on account of Diwali, sales had not picked up. Buyers from old city were forced to remain indoors for the past two days. Shops too were forced to shut down.

No business

There are several jewellery shops near Gulzar Houz and Charminar and with the tension continuing to grip the old city areas, the anticipated brisk business during ‘Dhanteras’ did not take place.

However, the silver lining was the good rush at all shops selling gold and gold ornaments in other parts of city including Secunderabad and Basheerbagh on Sunday, as buyers thronged the shops to purchase wedding jewellery despite high price.

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