Ahead of Diwali, Dhanteras Boosts Gold Sales and Jewelry Business
New Delhi: In Dhanteras’ auspicious occasion, gold sales have received a much needed boost, according to an IANS report. The upcoming wedding season has also boosted sales of the precious metal. The Dhanteras festival marks the first day of Diwali celebrations.Read also – In a first, the World Trade Center of New York adorned with an animation on the theme of Diwali
Dhanteras Gold Sale 2021
- All India Gem and Jewelery Domestic Council Chairman Ashish Pethe said: “This year gold sales are expected to be 15-20% above pre-pandemic (2019) levels,” according to a report from the ‘IANS.
- The Indian Bullion and Jewelers Association (IBJA) said the sale of gold to Dhanteras across the country this year was around 50 tons, valued at over 20,000 crore rupees, according to the report from the ‘IANS.
- IBJA data showed that the average price of 24 karat purity (999 purity) gold on Tuesday was above Rs 49,000 per 10 grams (with GST), which was lower than last year’s price. of about Rs 55,000 for 10 grams (with TPS).
- According to IBJA, at Dhanteras 2021, gold sales are expected to be around Rs 20,000 crore, compared to Rs 12,000 crore in 2019.
- “There has been a huge demand for gold in Dhanteras as buyers have regained confidence in the gold. It appears that buyers have increased the share of gold in their investment portfolios, ”IBJA National Secretary Surendra Mehta told IANS.
- “In addition, mandatory hallmarking as well as digital gold for giveaway purposes also boosted sales. We also saw a younger clientele this year, ”he said.
Jewelers across the country echoed similar sentiments Also read – Diwali 2021: Delhi-NCR air quality ‘serious’, likely to worsen on Friday as firecracker ban goes up in smoke
Vaibhav Saraf, director of Aisshpra Gems & Jewels, based in Uttar Pradesh, said: “Outlets,” the IANS report said. Also Read – Govardhan Puja 2021: Shubh Muhurat, Puja Timings & Everything You Need To Know
Mumbai-based Anmol Jewelers Founder Ishu Datwani said: “The build-up has been pretty good today since morning – and we’ve seen a steady stream of customers. The good thing is that all visitors are real buyers, not window shoppers, ”according to the IANS report.
Shrey Mehta, Director of Pooja Diamonds, based in Gujarat and Mumbai, said: “Over the past 2 months we have seen pre-bookings and increased attendance. Today a lot of people are here to pick up the deliveries and make the usual purchase of Dhanteras and get ready for the wedding season, ”the IANS report said.
Tanya Rastogi, Director, Lala Jugal Kishore Jewelers & IBJA, Uttar Pradesh, said: Every day wear working jewelry instead, because they too have learned the value of holding gold as a safe haven, ”according to the report of IANS.