because we were advised by the ministry of finance against investment sale of gold,” Shrivastava said.
Prithviraj Kothari, managing director, Riddhi Siddhi Bullions, said there has been a drop of 50 per cent in sales during the current season. “In fact, ever since Dussehra, the sales have been down. What is selling is silver. There is a high premium on gold. In fact, jewellers have in some cases not been able to sell even 20 per cent of what they sold last year.”
He said that during the Diwali week, 30-40 tonnes of gold is sold while on Dhanteras, it is around 20 tonnes. “This time it has been very low and even the demand for gold coins from corporates has not been much,” he added.