Pre-Dhanteras high prices, cash crunch take sheen off gold this season

Gold is likely to lose its sheen this 'Dhanteras' due to liquidity crunch amidst rising prices and other investment options, say market experts and the industry. If the sluggish sentiment prevails this will be the second consecutive year of poor sales. In 2017, the Dhanteras season saw sales plunging more than 30 per centover the 2016 levels when sales were reasonably goodas the note ban was announced post Diwali. But last year was one of the worst for the industry in recent yearsas it was after the note ban and GST implementation coupled with tighter KYC norms for high value purchases. "I am not expecting good business this 'Dhanteras' as the consumer sentiment is not so good due to lack of liquidity in the market. "I am expectingsales to decline by 5-10 per cent from last year or at best to be at par," All India Gem & Jewellery Domestic Council (GJC) chairman Nitin Khandelwal told PTI. Bullion prices have been heading north for quite some time now, which is also .

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