India sees massive Rs 30,000 crore gold and silver business on Dhanteras
India has recorded massive transactions of Rs 30,000 crore in gold and silver business on Dhanteras on November 10.
Gold and Silver business witnessed a massive surge in trade across India with a transactions of Rs 30,000 crore on Dhanteras on November 10. Apart from gold and silver, people were also seen buying purchases of automobiles, utensils, kitchen equipment, electronics and brooms across country.
According to the Confederation of All India Traders (CAIT), trade across India on November 10 surpassed Rs 50,000 crore with Delhi alone contributing Rs 5,000 crore.
CAIT National President BC Bhartia and Secretary General Praveen Khandelwal highlighted that Dhanteras witnessed numerous purchases. People have bought gold and silver ornaments along with idols of deities Shri Ganesh, Shri Lakshmi and Shri Kuber, vehicles, as well as items like utensils, kitchen appliances, and electronics. People have also bought brooms, which are considered auspicious to buy on this day.
The other things that were bought were mostly Diwali related for example- earthen lamps, home and office decoration items, furnishing fabric and Diwali puja materials.
Gold and Silver sale transactions
“There was a turnover of Rs 30,000 crore for gold, silver and other items across the country,” said Pankaj Arora, the National President of All India Jewelers and Goldsmiths Federation. The trade included gold goods worth around Rs 27,000 crore and silver transactions worth Rs 3,000 crore.
In comparison, this business on Dhanteras last year was around Rs 25,000 crore. On Dhanteras, the price of gold was it was Rs 62,000 per 10 gm while it was Rs 52,000 per 10 gm in 2022. Meanwhile, silver was priced at Rs 58,000 per kg last Diwali and now it is priced at Rs 72,000 per kg.
As per estimates, around 41 tonnes of gold and 400 tonnes of silver jewellery and coins have been sold on Dhanteras so far.
The Dhanteras on November 10 marks the start of the week-long Diwali festivities in India. On November 11, the the festival of Roopchaturdashi is celebrated, which is followed by festival of lights Diwali on November 12 then comes the Govardhan Puja on November 13. The Annakut on November 14 and Bhaiya Dooj on November 15.
Ms Kalinga