Dhanteras gold jewellery sales may record 35% rise

The price of 22 karat gold, which is used in jewellery, has fallen below 50,000 per 10 gms, which has encouraged consumers to buy. Kolkata: The recent softening of the gold price has supported demand for the metal during Dhanteras .

Sales picked up from 11 am on Friday and jewellers are expecting sales during the day to cross those of last year’s Dhanteras. Leading jewellery trade body India Bullion & Jewellers Association ( IBJA ) has indicated a 35% increase in volume terms over last year.

The price of 22 karat gold, which is used in jewellery, has fallen below 50,000 per 10 gms, which has encouraged consumers to buy. Jewellers are witnessing a lot of pent-up demand in the market after a hiatus of almost eight months when concerns over the pandemic had forced consumers to avoid non-essential purchases and conserve cash.

“Sales have picked up very well since […]

Click here to view original web page at economictimes.indiatimes.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.