Dhanteras Gold and Silver Purchases Surge: Sales up 20%, turnover value over ₹30,000 crore

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₹63,000 per 10 grams observed ten days ago, and this has encouraged increased purchases, especially in lightweight offerings, it added. Also Read | Gold vs silver: Which is better for Diwali 2023 Muhurat trading — explained Gold prices have witnessed a decline of ₹800-1,500 per 10 grams (24 carats) from the peak level on October 28, reaching ₹61,200 per 10 grams in the national capital on Friday.

This contrasts with the ₹50,139 per ten grams, excluding taxes, recorded on Dhanteras last year. On average, Dhanteras witnesses the sale of about 20-30 tonnes of gold, marking it as the most auspicious day in the Hindu calendar for purchasing items, ranging from precious metals to utensils.

This year, the All India Gem And Jewellery Domestic Council (GJC) Director, Dinesh Jain, anticipates total sales to exceed 30 tonnes nationwide, surpassing the roughly 22 tonnes estimated for the same period last year. Also Read | Diwali 2023: Stock market experts see Nifty 50 at 26000, Sensex at 85000 in two years "On Dhanteras, about 41 tonnes of gold and about 400 tonnes of silver jewellery and coins were sold in the country," according to All India Jewellers and Goldsmiths Federation National President Pankaj Arora.

In terms of value, the total turnover of gold, silver, and other items is estimated to be ₹30,000 crore across the country, he added. Around 60 percent of gold sales on Dhanteras are expected to come from South and West India, with the remaining 40 percent from the Eastern and Northern regions, the report added.