Indians buy 30% more gold after recent price correction
4 Articles
4 Articles
Indians buy 30% more gold after recent price correction
Indians showed a significant increase in gold and silver purchases during Dhanteras-Diwali this year. Gold buying rose by 30% while silver demand increased by 10% compared to last year. Consumers bought 52 tonnes of gold valued at ₹72,000 crore and 300 tonnes of silver worth ₹5,400 crore. The rise in purchases was fueled by lower prices and upcoming wedding season. Jewellers expressed optimism about continued consumer interest in precious metals.
The fall in gold and silver prices brightened the market this Diwali. Gold sales across the country broke a five-year record on Dhanteras and Diwali. Silver was also purchased in large quantities.
This year, during Dhanteras and Diwali, Indians significantly increased their purchases of gold and silver. Compared to last year, gold purchases increased by 30% and silver demand by 10%.
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