There has been a decline in buying gold on Dhanteras, because people expected that the price of gold would go down on Dhanteras, but that did not happen. However, there has been an increase in silver sales. Apart from this, there was excitement in other Dhanteras markets. In addition to gold and silver, there was good buying and selling of other products, including vehicles, electronic equipment, utensils and clothing. According to the Confederation of Indian Traders (CAT), business worth Rs 60,000 crore is expected on the occasion of Dhanteras this year. While last year the turnover was 50,000 million rupees, 20 percent more.
Gold worth Rs 20,000 crore sold
On Dhanteras, most people buy gold and silver (Gold-Silver Price), so the purchase of gold and silver increases on the occasion of Dhanteras. Pankaj Arora, national president of the Federation of Jewelers and Goldsmiths of India, said that despite the rise in prices, there have been good sales of gold and silver this Dhanteras. Gold worth Rs 20,000 crore and silver worth Rs 2,500 crore were purchased across the country. It is estimated that around 30 tons of gold were sold, the price of which exceeds Rs 20,000 million. At the same time, 250 tons of silver, worth more than Rs 2,500 million, were sold. While last year there was a business of around Rs 25,000 crore, including gold and silver.
Gold sales fell 15 percent
Indian Bullion and Jewelers Association (IBJA) national secretary Surendra Mehta said silver sales increased by 33 per cent today, while gold volumes decreased by 15 per cent. As he explained, silver is considered a commodity. more practical investment. According to Mehta, gold sales are expected to reach 35 tonnes this Dhanteras, down from 42 tonnes last year. Gold prices have increased by 30 percent since last Diwali. On Tuesday, 10 grams of standard gold was trading at Rs 78,430, up 0.6 per cent from the previous close.
Vehicle sales estimated to increase by 25 percent
According to automobile industry body FADA, there may be a 20-25 per cent increase in sales of cars and two-wheelers on Dhanteras. During Dussehra, this increase was from five to 12 percent. This sales figure can double on Diwali. On Dhanteras, car sales are expected to increase by 10 per cent and two-wheeler sales are expected to increase by 15 per cent.
Meanwhile, industry body SIEMA said that on the day of Dhanteras, there may be a 20-30 per cent rise in sales of smartphones along with refrigerators, televisions and washing machines.
