The price of gold is beyond Rs 1.30 lakh.
Despite the huge increase in prices, Indian customers spent an estimated Rs 1 lakh crore on Dhanteras this year due to huge purchases of gold and silver. Major trading organization Confederation of All India Traders (CAIT) said that the sale of gold and silver alone was Rs 60,000 crore of the total sales, which shows a growth of 25 percent compared to last year. Gold prices have increased by 60 percent on an annual basis and have crossed Rs 1,30,000 per 10 grams. Despite this, buyers flocked to the bullion markets.
According to CAT, record crowd has been seen in the jewelery markets in the last two days. Sales of more than Rs 10,000 crore were recorded in the bullion markets of Delhi. Buying gold, silver and utensils is considered auspicious on this festival celebrated on the Trayodashi date of Kartik month. This is the first day of the 5 day Diwali festival.
This much purchase of other goods including silver
CAIT said that silver prices also increased by about 55 percent to Rs 1,80,000 per kg from Rs 98,000 last year. Even after this the demand from customers did not remain less. According to the trader body, apart from bullion, Rs 15,000 crore was earned from the sale of utensils and kitchen appliances, Rs 10,000 crore from electronics and electrical goods and Rs 3,000 crore from decorative items and religious items on the day of Dhanteras.
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How much gold was purchased on Dhanteras last year?
Last year, on the day of Dhanteras, gold worth about ₹ 20,000 crore was purchased, this was estimated by business organizations. According to the Confederation of All India Traders (CAIT), the total retail sales of the festivals at that time were around ₹ 60,000 crore, of which around ₹ 20,000 crore was related to the purchase of gold alone. At the same time, according to other industry reports and media, the total sale of gold on the day of Dhanteras was between 20 to 35 tonnes.