October 30, 2024 - On Dhanteras day, October 29, the country saw bumper sales in all commodities except for gold-silver jewellery owing to significant rise in gold/silver prices. According to the Confederation of All India Traders (CAIT), business transactions worth approximately Rs 60,000 crore took place this Dhanteras. This is a 20% increase from last year's Rs 50,000 crore.

With rising gold prices, buyers were seen opting for lighter gold jewellery with those of 14, 18, and 20 carats seeing higher sales. There was also a strong demand for silver coins. Price of each coin was approximately between Rs 1,200 and Rs 1,300.  Of the two commodities, more buying was seen in silver than gold, according to the India Bullion and Jewellers Association (IBJA). IBJA national secretary Surendra Mehta said that silver sales saw a 33% increase, while gold sales declined by 15%.

Last year, gold was priced at Rs 61,000 per 10 grams on Dhanteras, which has this year gone beyond Rs 81,000. Similarly, silver's price, which was around Rs 71,000 per kilogram last year, has crossed Rs 1 lakh per kilogram this year.

According to reports, this Dhanteras, around Rs 20,000 crore worth of gold coins and jewellery, totalling 25 tons, were sold when compared to 40 tons worth Rs 27,000 crore last year. Silver sales amounted to 250 tons, valued at Rs 2,500 crore, compared to 400 tons worth Rs 3,000 crore the previous year.

Source: Media Reports