Lucknow, Read: Due to continuous fluctuations in the prices of gold and silver, buyers are away from the market even during Sahalag. There is silence at most of the jewelery shops in the bullion market of Aminabad, Chowk, Alambagh, Nishatganj, Mahanagar, Aliganj, Krishnanagar, Ashiana, Hazratganj and Gomtinagar. Bullion traders believe that unless there is “stability” in the prices, the markets are not going to revive. On Wednesday, the price of 24 carat gold per ten grams reached Rs 1,65,000 and silver reached Rs 3,05,000 per kg.
Chowk’s bullion businessman Siddharth Jain says that it has never happened before that customers were waited at the shops in Sahalag. The price of gold and silver is fluctuating several times a day. This is causing confusion among customers. Even if a few customers come, they go away after asking the price or they are running their business by recycling old jewellery.
Pradeep Aggarwal, senior general secretary of Lucknow Bullion Association and businessman from Aminabad, says that such silence from customers was not seen during the Sahalag season. People come and ask for prices and then go away. After knowing the difference in prices, they ask questions about when the prices will stabilize and then go away. They either argue about recycling the old jewelery and then leave. This is not good for the bullion market.
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