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Friday, 28th October 2005 (4826 views)

Gold prices in Delhi have hit a high as consumers stock up on gold for the festive period, reports the Hindu Business Line.

Gold is trading at Rs 7,010 for ten grams on the bullion market in a recent worldwide trend that has seen gold prices reach a 17-year high in the US.

This year Diwali falls on November 1st and, ahead of the auspicious gold-giving occasion, consumers are stocking up on the precious metal.

Many retailers are reportedly running buy-one-get-one-free offers, while others are holding competitions in which winners stand to gain prizes like gold coins.

IANS reports that one mobile phone company is offering its clients a 22-carat gold coin if they ring up and say Diwali enough times to amass a certain amount of points.

Retailers are predicting strong sales, while Diwali demand has already pushed up the price of gold by Rs 140 this week.

 

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