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There Was A Lot Of Gold Purchase On Dhanteras, 15 Tones Of Gold Jewelry Sold – Gold Demand

Business Desk, Amar Ujala, New Delhi

Published by: Deepak Chaturvedi
Updated Wed, 03 Nov 2021 12:11 PM IST

Summary

Dhanteras got off to a positive start in the markets before Deepawali and the lost shine seemed to be getting back. On Tuesday, Dhanteras saw sales of around Rs 75,000 crore across the country and customers bought around 15 tonnes of gold jewellery.

people shopping in store
– Photo : Amar Ujala

Dhanteras got off to a positive start before Deepawali in the markets and the sale of gold jewelery and coins is about to reach pre-corona levels, regaining the lost shine. This can be gauged from the fact that on Tuesday, around Rs 75,000 crore was sold across the country on Dhanteras and customers bought about 15 tonnes of gold jewelery.

The demand for gold increased in the festive season
With the dwindling concerns of the pandemic and pick-up in demand, hordes of consumers are flocking to shops to buy gold. The festive season played an important role in this. Buying increased on Tuesday as gold prices softened from their record low of Rs 57,000 per 10 grams in stores and online on Tuesday, especially in lighter gold products. Viewed.

People consider it auspicious to buy gold on Dhanteras
According to Hindu belief, Dhanteras is considered to be the most auspicious day for the purchase of precious metals to utensils. Significantly, gold prices were in the range of Rs 46,000-47,000 per 10 grams (excluding taxes) in the national capital on Tuesday, having touched a record high of over Rs 57,000 in August this year. However, this time on the day of Dhanteras, the rate of gold was 17.5 percent higher than the price of Rs 39,240 per 10 grams in the year 2020 Dhanteras. But people still bought gold fiercely.

Increase in offline shopping
The increased crowd of consumers in jewelery shops is adding enthusiasm to the gold sellers. Offline shopping is on the rise. There has been a 40 percent increase in the number of consumers visiting the store compared to a year ago. The Confederation of All India Traders (CAT) said that the jewelery industry has recovered from the slowdown caused by the pandemic. In a statement, CAIT said that on Dhanteras, around Rs 75,000 crore were sold across the country and around 15 tonnes of gold jewelery was sold on this day.

Highest selling gold expected in South India
This includes estimated sales of about Rs 1,000 crore in Delhi, Rs 1,500 crore in Maharashtra, about Rs 600 crore in Uttar Pradesh, CAIT said. In South India, sales are estimated to be around Rs 2,000 crore. World Gold Council’s (WGC) Regional Chief Executive Officer (India) Somasundaram PR said suppressed demand, moderation in prices and good monsoon coupled with relaxation in lockdown restrictions is expected to boost demand. He said this quarter is expected to be the best quarter in recent years.

Expansion

Dhanteras got off to a positive start before Deepawali in the markets and the sale of gold jewelery and coins is about to reach pre-corona levels, regaining the lost shine. This can be gauged from the fact that on Tuesday, around Rs 75,000 crore was sold across the country on Dhanteras and customers bought about 15 tonnes of gold jewelery.

The demand for gold increased in the festive season

With the dwindling concerns of the pandemic and pick-up in demand, hordes of consumers are flocking to shops to buy gold. The festive season played an important role in this. Buying increased on Tuesday as gold prices softened from their record low of Rs 57,000 per 10 grams in stores and online on Tuesday, especially in lighter gold products. Viewed.

People consider it auspicious to buy gold on Dhanteras

According to Hindu belief, Dhanteras is considered to be the most auspicious day for the purchase of precious metals to utensils. Significantly, gold prices were in the range of Rs 46,000-47,000 per 10 grams (excluding taxes) in the national capital on Tuesday, having touched a record high of over Rs 57,000 in August this year. However, this time on the day of Dhanteras, the rate of gold was 17.5 percent higher than the price of Rs 39,240 per 10 grams in the year 2020 Dhanteras. But people still bought gold fiercely.

Increase in offline shopping

The increased crowd of consumers in jewelery shops is adding enthusiasm to the gold sellers. Offline shopping is on the rise. There has been a 40 percent increase in the number of consumers visiting the store compared to a year ago. The Confederation of All India Traders (CAT) said that the jewelery industry has recovered from the slowdown caused by the pandemic. In a statement, CAIT said that on Dhanteras, around Rs 75,000 crore were sold across the country and around 15 tonnes of gold jewelery was sold on this day.

Highest selling gold expected in South India

This includes estimated sales of about Rs 1,000 crore in Delhi, Rs 1,500 crore in Maharashtra, about Rs 600 crore in Uttar Pradesh, CAIT said. In South India, sales are estimated to be around Rs 2,000 crore. World Gold Council’s (WGC) Regional Chief Executive Officer (India) Somasundaram PR said suppressed demand, moderation in prices and good monsoon coupled with relaxation in lockdown restrictions is expected to boost demand. He said this quarter is expected to be the best quarter in recent years.

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