Bhubaneswar: Jewellery retailers in the city are expecting brisk business this Dhanteras on Friday and Diwali, with a recent correction in gold and silver prices lifting consumer sentiment ahead of the festivals.Traders said the decline in prices, after a prolonged period of high rates, has encouraged customers to advance their purchases and is likely to boost sales of ornaments, coins and other items during the auspicious period.“People have already started coming in over the last week. Gold rates have come down to near last year’s Dhanteras levels. Silver rates have also come down drastically. Bookings for gold and silver started last week. We have been witnessing a good response as marriage season will start soon,” said city-based jeweller Mitesh Khimji.He added Dhanteras, considered one of the most favourable occasions for buying gold and silver, traditionally witnesses a surge in footfall at jewellery showrooms.Many jewellery stores have introduced festive discounts, making-charge waivers, exchange schemes and special offers on diamond and silver collections.“I had postponed purchases due to high prices. But now I have purchased gold after the recent dip. I am interested in gold coins,” said Sinu Sahani, a resident of Patia.Srinivas Senapati, director of a company that runs jewellery showrooms, said the international market is influencing gold and silver rates. “The rate is convenient now, as it has come down. Silver was Rs 1.81 lakh per kg on Tuesday and Rs 1.91 lakh per kg on Wednesday, while its peak rate was Rs 4.1 lakh in Jan. We are optimistic about good business,” he said.Sunjoy Hans, chairman of another jewellery company, said the local gold rate rose from Rs 1,28,250 in the morning to Rs 1,30,900 in the afternoon, an increase of Rs 2,650, or approximately 2.07%. “This shows how international developments can influence Indian prices. Gold’s outlook remains cautiously positive. Democratic gains in the U.S. have weakened the dollar and yields, supporting prices. Longer term, central-bank buying, geopolitical risks, inflation concerns, debt worries, lower real rates and rupee depreciation may help gold. However, a stronger dollar, higher rates or weaker demand could trigger corrections,” he said.Several outlets have stocked additional inventory and increased staffing to manage the anticipated rush.Industry representatives said the festive season accounts for a significant share of annual sales.