Record high prices dampen Dhanteras gold sales

Volumes may drop 10 per cent, say industry players

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Gold sales on Dhanteras are estimated to drop 10 per cent in volume terms year-on-year on a sharp 33 per cent annual rise in rates of the yellow metal, according to industry players.

Since Dhanteras, the most auspicious day in the Hindu calendar for buying items ranging from precious metals to utensils, is celebrated on two days till 1.11 pm on Wednesday, jewellers are expecting more footfalls in both online and offline stores.

Gold prices have surged 33 per cent to Rs 81,400 per 10 gram in the national capital, as compared to Rs 61,200 on Dhanteras last year, which was celebrated on November 11, 2023.

Silver prices increased 35 per cent to Rs 99,700 per kg on Tuesday compared to Rs 74,000 on Dhanteras day last year.