Mangaluru Gold Demand Plunges Amid Volatile Prices

Gold prices continue to be volatile in Mangaluru, affecting jewellery demand during the ongoing festive season. According to Prashanth Shet, treasurer of the Karnataka State Jewellers Federation, frequent fluctuations in gold rates have made customers cautious.

'Gold prices remain highly volatile and have not stabilised,' he said. 'Even today, rates increased by Rs 300 per gram. This uncertainty is affecting consumer confidence.'

Shet noted that sales volumes have fallen to nearly 50-60% of last year's levels, with jewellery exhibitions witnessing poor footfalls.

The volatility has altered both buying and selling behaviour, with customers reluctant to sell gold as they view it as a safeguard for future needs. At the same time, some investors are moving towards alternatives such as exchange-traded funds (ETFs).