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Glitter & Gear: Bullion Rush, Auto Boom Fuel Dhanteras Market Surge in Lucknow
Jewellers said buyers were drawn by a recent price correction, with silver sales also expected to rise 30% in value.
- On Friday, India celebrated Dhanteras with strong precious metals demand, as industry officials estimated gold sales by value rose 15-20 per cent to approximately Rs 60,000 crore.
- Rajesh Rokde, chairman of the All India Gem and Jewellery Domestic Council , noted recent price corrections drew buyers; 22-carat gold eased to Rs 13,150 per gram, boosting festive purchases.
- Silver sales are projected to rise 30 per cent in value and 10 per cent in volume, according to GJC data; gold volumes remain flat despite value increases, as prices stay well above last year's levels.
- Senco Gold CEO Suvankar Sen reported sales value rose over 25 per cent from a year earlier, driven by higher footfall and wedding shoppers; smaller cities including Jaipur, Surat, Dehradun, Belgaum, Ara, and Raipur saw significant activity.
- The All India Jewellers and Goldsmith Federation reported nationwide sales exceeded Rs 66,000 crore over recent days, with Delhi's bullion markets alone recording business of more than Rs 10,000 crore.
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Jewellers Report Brisk Dhanteras Sales as Gold Price Drop Lures Buyers
Indian jewellers reported robust demand for gold and silver on Dhanteras, with gold sales by value estimated to increase by 15-20 per cent to approximately Rs 60,000 crore, driven by a recent drop in prices. However, volumes are expected to remain flat compared to last year due to overall higher price levels.
Dhanteras Gold Business Across India Estimated at ₹60,000 Crore, GJC Sees 15–20% Value Growth
The total gold business across India on the occasion of Dhanteras is estimated to be approximately Rs. 60,000 crore, The post Dhanteras Gold Business Across India Estimated at ₹60,000 Crore, GJC Sees 15–20% Value Growth appeared first on India CSR®.
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Total News Sources12
Leaning Left0Leaning Right4Center1Last UpdatedBias Distribution80% Right
Bias Distribution
- 80% of the sources lean Right
80% Right
C 20%
R 80%
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