Gold, silver sales hit ₹ 60K cr this Dhanteras

NATIONAL secretary, Indian Bullion and Jewellers’ Association, said “in volume terms, we estimate that we will be able to meet last year’s figure of 35 to 39 tonne. Even if jewellery demand is expected to be lower by 25-30%, high demand for bars and coins will compensate.”

- SURENDRA MEHTA

With gold prices over 60% higher than last Samvat and silver 75% higher, there was apprehension of buyers staying away, but markets saw heavy rush of people. In Mumbai, gold was trading at %1,31,0001,32,000 per 10 gram, while silver was quoted above %1,70,000, including spot delivery premiums. However, making charges for silver bars were quoted at a much higher rate than usual. Sachin Jain, regional CEO, India, World Gold Council, said, “We are getting reports suggesting consumers are excited to buy gold this Dhanteras. Even though prices have risen, consumer confidence in gold continues to stay strong. In fact, purchases for next quarter’s marriage season have also been advanced.” Interestingly, what is helping je