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Festive cheer for jewellers as Diwali brings bumper sales, around 55 tonnes of gold sold

It was a big relief after a long time to see vibrancy bouncing back in the jewellery market this Diwali as 55 tonnes of gold valued 20,000 crore is sold this festive season as per IBJA data. However, last year and the previous the gold consumption was lower but this year it has bettered and made a good comeback comparatively. IBJA’s data showed that the average price of gold of 24-carat purity (999 purity) on the day of Dhanteras 2021 was over Rs 49,000 per 10 grams (with GST) which was lower than last year’s price of around Rs 55,000 per 10 grams (with GST). Taking advantage of this, the buyers splurged on their favourite jewellery obviously due to slightly dipped gold prices and the lifts on restrictions. 2021 festive saw retailers showering buyers with attractive offers on jewellery leading to fair demand and sale which created a wave of positive sentiments in the jewellery industry.

In addition, to provide timely boost to the industry for the forthcoming festive and wedding seasons associations are organising many major shows like IIJS Signature and Jaipur Jewellery Show (JJS) in times ahead.

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Now in 14th year of publishing, it has won many awards and rich accolades for its contribution to the jewellery industry and trade. It is widely recognized by readers, advertisers, and the jewellery community as a premier magazine in the industry. It reaches quality jewellery retailers in India and overseas and has an extended reach during exhibitions and trade fairs.

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