Gold & silver rakhi in demand: Jewellers

Prayagraj: Despite soaring prices of diamonds, gold, and silver, the city witnesses unprecedented demand for rakhis made of precious metals, claim city-based jewellers.
President of the Allahabad Jeweller’s Association Dinesh Singh told TOI, “The sale of gold and silver rakhis has witnessed a rise this Raksha Bandhan. Customers, particularly urban women, are ready to shell out extra bucks to opt for designer and stylish gold and silver rakhis.”
While a designer silver rakhi is available between Rs 700 and 2,000, a gold rakhi of 15 grams is available for Rs 1.05 lakh in the market.Singh said, “Gold rakhi are available in 15, 18, and 20 grams.” The majority of gold and silver rakhis are being brought from Kolkata, Mumbai, and Delhi for sale in UP markets. “This Raksha Bandhan, we are anticipating a business of Rs 1.5 to Rs 2 crore in jewellery markets this Rakshabandhan in Sangam city alone,” added Singh. A jeweller having a shop in Civil Lines said that despite the rise in the prices of gold and diamonds, customers are asking about jewel rakhis. He added, “Diamond, gold or silver rakhi is a craze among higher middle class and upper class.” These rakhis are brought as per the requirements of women customers from metropolises. Rakhis can be worn as a bracelet or a pendant in gold.