MUMBAI: For Manisha Shinde, Deepavali would not be complete without buying gold.
She is spending about US$700 on a gold coin ahead of the festival of lights, which falls on Sunday (Nov 8).
“It’s Deepavali, and I’m buying this as a gift for my daughter-in-law. This is so she can use the gold later to make ornaments,” she told CNA.
Gold is traditionally bought during festivals and weddings in India, where it is regarded as a symbol of prosperity and a long-term investment.
Global gold prices have eased from a record high of nearly US$5,600 an ounce in January, offering some relief to buyers. But the precious metal remains expensive, currently trading at around US$4,000 an ounce.