Dhanteras 2022: Up to 42 tonnes of gold can be sold on Dhanteras, despite the rise in prices, demand increased

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Dhanteras 2022: Despite the rise in prices, there will be a boom in the sale of gold on Dhanteras this year. The main reason for this is the fear of economic slowdown around the world, rising dollar and increasing geopolitical tensions globally. Bullion traders say that this year the price of gold has increased to Rs 50,000 per 10 grams. But, given the current economic situation, Indians are considering it better to buy gold even at this price.

Surendra Mehta, general secretary of the Indian Bullion and Jewelers Association (IBJA), said gold has become costlier by Rs 3,295 this year as compared to the last Dhanteras. Despite this, 40-42 tonnes of gold is estimated to be sold this Dhanteras. This figure is 33-40 percent more than the 30 tonnes of gold sold on the last Dhanteras. In terms of value, this time around Rs 2-2.10 lakh crore can be sold.

  • There can be up to 40% more sales this time
  • Gold is costlier by Rs 3,295 since last Dhanteras
50% more sales than pre-Corona levels

year Sales (in Tons)
2021 30
2020 15
2019 28
2018 25
2017 21

(Source: IBJA)

Ashish Pethe, chairman, All India Gems and Jewelery Household Council, said that in view of the wedding season, there is also a demand for heavy jewelery.

Villages also brightened due to better monsoon

  • Mehta said, this time the demand for gold is strong in western India as well as in the areas of northern India. The demand is always better on Dhanteras in South India.
  • The special thing is that due to better monsoon, there is a crowd in the bullion markets in rural areas this year.

Emphasis on recycling in small towns

  • National General Secretary of Confederation of All India Traders (CAT), Praveen Khandelwal said that this time the import of gold has come down. But due to the old stock, there is no effect of less import in the market.
  • By the way, in small towns people are also recycling old jewelery instead of buying new jewellery. This trend is more in Tier-2, 3 and 4 cities.

Expansion

Dhanteras 2022: Despite the rise in prices, there will be a boom in the sale of gold on Dhanteras this year. The main reason for this is the fear of economic slowdown around the world, rising dollar and increasing geopolitical tensions globally. Bullion traders say that this year the price of gold has increased to Rs 50,000 per 10 grams. But, given the current economic situation, Indians are considering it better to buy gold even at this price.

Surendra Mehta, general secretary of the Indian Bullion and Jewelers Association (IBJA), said gold has become costlier by Rs 3,295 this year as compared to the last Dhanteras. Despite this, 40-42 tonnes of gold is estimated to be sold this Dhanteras. This figure is 33-40 percent more than the 30 tonnes of gold sold on the last Dhanteras. In terms of value, this time around Rs 2-2.10 lakh crore can be sold.

  • There can be up to 40% more sales this time
  • Gold is costlier by Rs 3,295 since last Dhanteras

50% more sales than pre-Corona levels

year Sales (in Tons)
2021 30
2020 15
2019 28
2018 25
2017 21

(Source: IBJA)

Ashish Pethe, chairman, All India Gems and Jewelery Household Council, said that in view of the wedding season, there is also a demand for heavy jewelery.

Villages also brightened due to better monsoon

  • Mehta said, this time the demand for gold is strong in western India as well as in the areas of northern India. The demand is always better on Dhanteras in South India.
  • The special thing is that due to better monsoon, there is a crowd in the bullion markets in rural areas this year.

Emphasis on recycling in small towns

  • National General Secretary of Confederation of All India Traders (CAT), Praveen Khandelwal said that this time the import of gold has come down. But due to the old stock, there is no effect of less import in the market.
  • By the way, in small towns people are also recycling old jewelery instead of buying new jewellery. This trend is more in Tier-2, 3 and 4 cities.

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