The public evinced more enthusiasm in buying new jewellery on the occasion of New Year
There was a good rush in jewellery shops.
Jewellery merchants have reported 30% increase in sales.
The General Secretary of the Chennai Gold & Daimond Merchants Association, Mr. Santhakumar, told that many people believe it is a good idea to buy jewellery on the New Year Day as a mark of accumulating more wealth.
Due to this, there was more rush in the jewellery shops on New year Day. Public visited the jewellery shops in T Nagar, Purasaiwalkam, and Vadapalani right from the early morning.
This has resulted in 30% increase in sales.
Also, with the recently introduced Gold Investment scheme of the central government, has led to some reduction in import of gold, the price of gold can be expected to be in control for the year 2016.
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