Book gold now at current rate, buy later

Kolkata: With gold prices languishing at a 6-month low for the last couple of days, a slew of leading city jewellers have come out with a ‘book-your-jewellery’ offer for customers. The offer, which is a kind of hedging widely used in financial circles and in this yellow metal, is already gathering good traction. As per these offers, one can book jewellery for Dhanteras or Navratri at this low price and can buy it later during the festive season at the same price even if the rate goes up. In case of further fall, some jewellers are even offering customers the lowest price prevailing at the date of purchase. From Tanishq, P C Chandra to Senco, all have come out with this offer to lure customers.The MD & CEO, of Senco Gold & Diamonds, Suvankar Sen told TOI that it has introduced a flexi gold rate offer. He pointed out that gold prices at Rs 58,000 (per 10 gm) -57,500 is the lowest in six months. “This could be an ideal time to buy some gold. People generally do it during Dhanteras. If somebody books gold at this price. He will have the advantage of buying it later at the current price. If the price goes up he does not have to pay extra. In case the price goes down he will pay the price which is lower,” he added. With a rise in footfall of customers following the slump in gold price, PC Chandra Jewellers’ city outlets have also opened advance booking windows in the festive season. Suvro Chandra, joint managing director of PC Chandra, said, “Customers are getting special festive offers as Durga Puja is barely three weeks away. The price of gold has slumped and many of our customers are opting for advance booking of their ornaments. Not all of them will take the ornaments during Dhanteras next month, some may buy later as well. But they are not letting this opportunity slip off their hands as the gold price has come down after a long time. So, many of our customers are booking in advance this week.” Tanishq, a national player in this category has also introduced an advance booking option wherein the customers can freeze the current gold rate & buy at a later stage. Samar De of Guinea Emporium, who is also the president of Swarna Shilpa Bachhao Samity, pointed out that as the gold price is unstable now lot of people would want to buy. “Lot of jewellers are giving offers now,” he added.
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