NSE records highest-ever traded value of virtual gold on Dhanteras Gold sales are good even if they are at least 20 to 25 per cent less than last year.

However, the sales are entirely sentiment-orient- ed, like coins, biscuits and bars Gold Jewellery sales on Sunday remained buoyant on the auspicious occasion of Dhanteras with jewellers claiming that the demand from retail individuals went beyond expectations.

Even the total traded volume in the Gold Exchange Traded Funds (ETF) on the stock exchanges surpassed all previous records with the National Stock Exchange (NSE) registering a 110 per cent growth in traded value when compared to the previous year.

The total traded value of the Gold ETF on the NSE stood at `1,337 crore, while the BSE recorded a turnover of Rs 894.55 crore.

“The kind of dull and subdued market that we had expected did not happen with the sales remaining robust especially in the northern region of India where Dhanteras is an important event in the calendar,” said Sanjay Banerjee, president, luxury retails, Gitanjali Lifestyle, which has over 1,200 retail stores across India including franchisees.

However, Banerjee pointed out that a rising number is turning toward gold coins and bars.

“Every year we are witnessing a six-to-seven per cent increase in demand for coins and bars. In the gold jewellery segment, peoples preference towards high end gold jewellery with high workmanship charges have shown a declining trend,” he said.

In Hyderabad, gold traders saw a constant rise in sales throughout on Sunday, but they were estimated to be lower by 20 to 25 per cent when compared to earlier years.

Gold merchants had kept their fingers crossed, with a dull run-up to the festival. The ‘good sales’ have set the tone of the festive season now, say jewellers.

Gold rates, which remained at an all-time high of `32,500 per 10 grams (tola) saw most purchases being made in investment-oriented items like gold coins and bars, while gold jewelry items got less attention from customers.

Meanwhile, banking on the high gold rates were small time silver merchants who did brisk business selling lakshmi coins, Raja-rani coins, antique coins, silver utensils and bars.

“The sales are much better when compared with last year. Apart from coins, a large number of people are buying silver bars and silver utensils.Around 80 per cent of the sales are of silver items,” said Chandra Prakash Verma, owner of a jewellery store in Secunderabad.

“Gold sales are good even if they are at least 20 to 25 per cent less than last year. However, the sales are entirely sentiment-oriented, like coins, biscuits and bars,” Advisor to the Twin Cities Gold Merchants’ Association, Mohanlal Gupta said.

Chocolate scores over sweets Demand for chocolates is steadily increasing this festive season on account of corporates using it as a gift item, industry body Assocham said. In its survey, Assocham said demand for chocolates has risen in all major cities.

“Wary of the quality of traditional sweets, people have been flooding chocolate boutiques with gift orders, which have been increasing,“ Assocham said in its report. Cracker demand dips by 32% Amid increasing concern over noise and air pollution, the demand for crackers and fireworks has decreased by 32 per cent, according to a report. “The celebrations in 2012 may be cleaner, greener and noise-free as the year-on-year (y-o-y) searches for fireworks and firecrackers saw the biggest decline at 32 per cent,“ a report by e-commerce platform for small businesses, Alibaba.com said.