Golden chance? Wait a second! HYDERABAD: Gold prices, whether they go north or south, always send consumers into a Hamletian dilemma. Should I buy now or wait? The question has no easy answers. Retailers say there's no one-size-fits-all answer.
Those, who spent their hard earned money buying the precious metal Sunday -- triggered by a fall in the price by Rs 1,200 per 10 grams on Saturday -- are left wondering whether to do an encore.
It all boils down to this question: Will it fall further? 'We anticipate fluctuations to slow down in a couple of days and the price may settle at Rs 26,000 (per 10 grams, 24-carat) and then, stabilize,' Mehul Choksi, CMD, Geetanjali Jewellers told Express. So should you wait?
'Well, individual buyers should take a call. If it's a wedding and one has to buy a huge quantity, they may as well want to wait and try their luck. But if it's a small-time purchase, the difference may not be much,' he added.
On Monday, standard gold closed at Rs 27,600 per 10 grams, while ornamental gold was at Rs 27,400 per 10 grams. At some stores ornamental gold was available at Rs 25,009 per 10 grams.
News Posted: 16 April, 2013
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