Ahmedabad: It’s a rush of original gold in this Division with consumers making a way to make a purchase of Muhurat in Dhanteras and Pushya Nakshatra.
Yellow metal worth Rs 372 Crore or 750 kilograms for sale in Gujarat on two lucky opportunities this year.
For gold, this has become the best diwali in the last five years, said jewelry.
About 300 kg of gold traded across the country in Dhanteras, while sales of around 450 kg on Pushya Nakshatra, which fell on October 28, showed estimates by the Association of Bullion and Indian Jewelry (IBJA).
“The sale of gold muhatat increased by 150% against around 300 kg trading at the Pushya Nakshatra-Dhanteras festival last year in Gujarat,” said Haresh Acharya, Director, Ibja.
The hidden request, investors thought gold as a class of assets and many wedding opportunities scheduled for after Diwali had driven the sale of gold during the ongoing Division celebration, said jewelry.
The price of gold was completed at Rs 49,600 per 10 grams on Tuesday in Ahmedabad Market.
“After a five-year period, gold demand in Gujarat is at this level.
The sales volume is mostly driven by the purchase of wedding jewelry.
The purchase of coins and pars also causes an increase in demand.
Investors have maintained their faith in gold, especially after utilizing good returns In their investment during and after a pandemic.
Therefore, people invest large amounts to anticipate prices that strengthen in the coming months, “Acharya added.
Jewelry suggests that the overall consumer sentiment remains positive because customers walk-in to buy lightweight jewelry including rings, earrings, light neck chains and other knick-knacks.
According to estimates, at least 100 kg of gold will be traded at Ahmedabad alone in Dhanteras.
Besides gold, demand for silver remains good too.
Silver prices settled Rs 66,200 per kg in Ahmedabad Market on Tuesday.
Some young buyers come out to buy gold and silver jewelry and bullion, because they have realized the importance of saving, suggesting industrial players.
“Silver demand has opened with excellent celebration season and this young buyer has come out in large quantities to buy light silver jewelry.
It’s not just light in my pocket but also equipped with an elegant design.
In fact, jewelry launches a collection of their silver jewelry specializes too, “Said Jigar Soni, President, Ahmedabad Jewelry Association (JAA).