Summary:
A representative of a major jewellery firm said there has been a 20-25 per cent decline in sales this year. “Gold prices have touched a record high, with a gram costing Rs 3,540 on Saturday. The sudden hike of Rs 30-40 in the price in a day, unlike the Rs 10-20 earlier, indeed is of grave concern. The decline in bullion sale is a pan-India phenomenon, with a 70 per cent slump in sales reported countrywide. Though it is boom time for jewellery firms since it is the wedding season, the drastic slowdown has affected the market”..