Gujarat: Prices of gold rise ahead of Dhanteras

Rajkot (Gujarat) [India], October 9 (ANI): As the prices of gold in the market are rising, jewellery markets in Rajkot are thronged with people ahead of Dhanteras on Sunday.
Dhanteras, which marks the beginning of the five-day festival of lights, is considered a propitious day to buy and bring in new metal items, especially metals like gold and silver.
People are gathering at marketplaces to buy gold or silver. Jewellery shops in Rajkot, Gujarat are filled with customers who want to buy gold and silver items ahead of Dhanteras.
The shop owners have noted a price rise in the prices of Gold. While speaking to ANI, Ashok- the owner of Radhika Jewel Company Ltd., said that the increased price of gold is still much less than the price in the international market. “The rise in the price of the gold in the market is due to the continuous depreciation of the Indian rupee in the market”, he added.
“Suppose the price of gold becomes 1,850 US dollars in the international market, then the price of gold can also cross Rs 58,000.” Ashok further said.
Another shop owner told ANI that the rate of gold in the Indian market depends upon the rate going on in the international market. At least within the last fortnight, the price has increased by Rs 1,500-2,000.
Asked about the impact of the prices in the sale of gold at the time of festivals around the corner, he said that Diwali is an auspicious festival for Hindus and their family. During Diwali, people receive a bonus and people buy gold no matter the rise in the prices.
A regular customer of Radhika Jewellers, Rajkot, Nancy Chauhan, told ANI that ladies like to buy gold jewellery. Price rises or falls, ladies buy gold. “Buying the gold is an investment”, Nancy added.
Dhanteras is observed on the 13th lunar day of Krishna Paksha (dark fortnight) in the Vikram Sambat Hindu calendar month of Aaswayuja in the Amaavasyanta Luni-Solar Calendar.
Literally, Dhanteras means ‘dhan’ or wealth, while ‘teras’ is the 13th day of the moon cycle wherein people offer prayers to Lakshmi, the goddess of wealth and prosperity. (ANI)