Ahmedabad / Vadodara / Letter: Beat the expectations of jewelry and bullion traders, it is estimated that 220kg gold is traded at Ahmedabad in one day on the Pushya Nakshatra, which falls on Thursday.
This means that gold is estimated to be estimated RS 109 Crore traded in Ahmedabad alone in Pushya Nakshatra, driven by the purchase of muhatat and overall optimistic demand.
“Sales remain phenomenal either as many people have bought large amounts of gold.
Muhurat like Pushya Nakshatra comes after years.
It is estimated that 60% of customers buy jewelry while coins buy the rest and gold bar, “said Jigar Soni, President, Jewelers’ Association of Ahmedabad (JAA).
“Many investors who put golden money have ordered a bullion.
People realize the importance of gold as assets during the pandemic period and therefore, investors who diversify their investment portfolio, have never been with gold, “Soni further said.
The high price of gold is no more dampener for purchases.
The price of gold settled at Rs 49,700 per 10 grams in Ahmedabad Market suggested estimates by gold traders.
Besides gold, even silver demand remains floating with many coins, bars, functional and lightweight artifacts and jewelry designers purchased.
Jaa’s estimate shows that some 40kg gold traded on Pushya Nakshatra last year in the city.
This method of sales has increased by 450% against times pandemic.
However, this year’s Muhail sales on the Pushya Nakshatra ran forward from the pre-pandemic period as well.
Gold sales of Pushya Nakshatra increased by 76% of the 2019 Memurat of 2019 supported by buoyant purchases and hidden requests.
Gold demand remains floating in other cities too.
With a slow start in the morning, the sale of precious metals was picked up in the afternoon at the Diamond City of Letter.
The management of the Jewelers association claimed that city jewelry did the 80-100 crore RS business on a good day of Pushya Nakshatra.
The overall market situation is better than 2019 say a leading jewelry.
Sales on Thursday including gold, silver and other precious metal jewelry and bars.
“The market improved and we were much better than 2020.
We also did good compared to pre-covid periods too.
We hope good businesses in the wedding season will come as people have savings from the last 18 months and the portion will definitely be Go to buy precious metals, “said Salim Daginawala, President of the Jewelers Association letter.
The sale of gold jewelry in Rajkot was around 75 to 80 kg in one day on Thursday on a Pushya Nakshatra account according to jewelry.
Vice President Mayor Adesara Association of India Bullion Jewelers (IBJA) said “This year the small buyers who want two to five grams also come to the market.
There is a heavy rush of customers in all jewelry.
Last year there was a very neglected sell because of Covid but if we compare it with years Previously, there was a 60% increase in sales this year.
” Vadodara, however, reportedly slow uptakes.
Raghav Chavan from Vadodara-based Prakash Jewelers said, “Sales at Pushya Nakshatra is less currently compared to last year.
Our business is around 40% down this year.
It is possible that many do not buy gold because of the end of the month.
People have to wait for their salary or bonus.
So, we expect sales to catch Dhanteras.
” Purchasing wedding jewelry mostly advanced gold requests at Pushya Nakshatra.
However, most pre-ordered orders for shipping taken today, suggest jewelry.
“In addition to wedding jewelry, requests for light functional jewelry are hit.
The younger generation focuses more on design and lacking in the value of gold rust.
Therefore, trendy design at the age of 18 and 22-rust of gold other than rose gold and diamond jewelry and the sale of silver jewelry remains good, “said Ashish Zaveri, city based jewelry.
“We have received a good number of pre-bookings for shipping on Pushya Nakshatra.
People also make ‘Shagun’ purchase and order larger orders for wedding jewelry today, “Zaveri further added.
(With input from Nimesh Khakhariya, Tushar Tere and Yagnesh Mehta)