Diwali 2021: People have done a lot of shopping on this Dhanteras. According to the CAT report, about 15 tonnes of gold jewelery has been sold on Dhanteras. Let us know what was the condition of the market this Dhanteras?
- 15 tonnes of gold ornaments and coins sold on Dhanteras
- Offline shopping rises again
- Expected surge in demand
New Delhi: The effect of gold being cheaper by more than Rs 8000 from the all-time high on Dhanteras has been shown fiercely in the markets. The Confederation of All India Traders (CAT) said that this time on the festival, the jewelery industry has recovered from the recession caused by the pandemic. That is, on this Dhanteras, people have done a lot of shopping. According to the report of CAT, about 15 tonnes of gold jewelery has been sold on Dhanteras.
- CAT gave information
In its statement, CAIT said, ‘On Dhanteras, gold worth about Rs 75,000 crore was sold across the country. About 15 tonnes of gold jewelery was sold. In this, there has been an estimated sale of gold worth Rs 1,000 crore in Delhi, about Rs 1,500 crore in Maharashtra, about Rs 600 crore in Uttar Pradesh. At the same time, in South India, it has been estimated that there will be a bumper sale of gold worth about Rs 2,000 crore.
- buy gold on dhanteras
Actually, there is a belief in Hinduism to buy gold and silver on Dhanteras. At the same time, if you look at the market, this time Dhanteras started well in the markets before Diwali and due to Corona virus, the lost luster of the market was seen back. The sale of gold jewelery and coins is about to reach the pre-Covid level.
- Which type of gold was in high demand?
If we talk about jewellery, this time there has been a boom in the sale of light gold products. According to Hindu belief, Dhanteras is considered to be the most auspicious day for the purchase of precious metals to utensils. In such a situation, those who do not have money for big investments yet, they have also followed the tradition by investing in light gold.
- Offline shopping rises again
Amidst the trend of online shopping, jewelery shops saw a rush of customers, which shows the resurgence of offline shopping. This time there has been an increase of 40 percent in the number of customers going to the shop as compared to last year.
- Expected surge in demand
World Gold Council (WGC) Regional Chief Executive Officer (India) Somasundaram PR told PTI that there is a strong demand expected from suppressed demand, softening of prices and good monsoon as well as relief in lockdown restrictions. “We expect this quarter to be the best quarter in recent years,” he said.
- How much was the price of gold?
On Tuesday, gold prices in the national capital stood at Rs 46,000-47,000 per 10 grams, reaching a record high of over Rs 57,000 in August this year. Ashish Pethe, chairman, All India Gems and Jewelery Local Council, said, “We expect the sales volume (compared to pre-Covid levels) to remain the same as the rates have increased from 2019. In value terms, we expect a growth of 20 per cent from 2019 levels.
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