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India buys record gold on Dhanteras
The Business Guardian
|November 11, 2023
As India celebrated Dhanteras, the traditional festival for buying gold and silver, the precious metals market witnessed a positive start with the recovery of consumer demand. The softening of gold prices by Rs 800-1,500 per 10 grams (24 carats) from the peak level on October 28 prompted increased buying on this auspicious day.
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Gold, considered an auspicious purchase on Dhanteras, experienced a significant price drop of Rs 400 to reach Rs 60,950 per 10 grams in the national capital on Thursday. The current prices in Delhi were recorded at Rs 50,139 per ten grams, excluding taxes, on the Dhanteras day in 2022. The decline in prices has sparked optimism among traders, who anticipate that gold sales will surpass last year’s levels.
Dit verhaal komt uit de November 11, 2023-editie van The Business Guardian.
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