Strong gold jewellery sales in festive season to aid revenue growth of retailers
As per media reports, gold jewellery sales have shot up by 30% this Dussehra compared to last year, setting the tone for better sales in the upcoming Diwali and Dhanteras period.
Prices of 22 karat gold have fallen below Rs 50,000 per 10 gm and were hovering around Rs 49,000 per 10 gm. Fall in gold prices coupled with a disruption free festive season are expected to boost jewellery sales. There has been a lot of pent-up demand in the market and consumers are spending on the precious metal, which augurs well for jewellery retailers like Titan Company in our coverage universe.
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