India, May 13 -- dheeraj.bengrut@htlive.com

Pune - Following Prime Minister Narendra Modi's appeal that "people should avoid buying gold for any household function throughout the year," discussions have intensified in bullion markets across the country. While speculation suggests the statement could impact gold sales, jewellers and bullion traders in Pune have currently adopted a "wait and watch" approach. Traders say that although global tensions in Gulf countries and soaring gold prices had already reduced consumer demand, the Prime Minister's remarks have further added to uncertainty in the jewellery market.

A noticeable slowdown has been reported in jewellery shops in the city, where traders say customer footfall has slightly droppe...