Karva Chauth: Gold worth more than 3000 crores sold across the country, the bullion market will continue to flourish

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Gold worth more than Rs 3,000 crore has been sold across the country on Karva Chauth this year, despite the increase in prices compared to last year. Last year, gold worth Rs 2,200 crore was sold on Karva Chauth.

The Confederation of All India Traders (CAT) and the All India Jewelers and Goldsmiths Federation, a large organization of small jewelers of the country, said on Thursday, due to the Corona epidemic, there was sluggishness in the bullion markets across the country on Karva Chauth in 2020 and 2021. But, this time due to the removal of restrictions related to Corona and the perception of people spending more in the festive season, there was a huge crowd in the bullion markets. There was a lot of buying of gold and silver jewellery.

Gold costlier by Rs 3,400

  • This time gold has become costlier by Rs 3,400 per 10 grams as compared to Karva Chauth last year. However, silver remained cheaper by Rs 11,000 per kg.
  • In Delhi, 24 carat gold on Thursday stood at Rs 52,000 per 10 grams. Silver stood at Rs 59,000.
Buzzing markets in these cities including Delhi

CAT National President BC Bhartia said that apart from Delhi, the bullion markets of cities like Mumbai, Agra, Kanpur, Hyderabad, Nagpur, Raipur, Rajkot, Meerut, Kolkata, Amritsar, Jaipur, Bhopal, Indore, Jammu, Lucknow etc. were buzzing.

High demand for these ornaments
Pankaj Arora, national president of All India Jewelers and Goldsmiths Federation, said that this time a large stock of heavy to light jewelery was in the market. On the one hand, there was a demand for new designs along with the stock of traditional gold and silver jewelry. Bridal rings, chains, bangles, mangalsutras are in high demand as usual in Tier-2 and Tier-3 cities.

Price will increase in coming time
CAIT’s National General Secretary Praveen Khandelwal said that gold and silver markets remain buzzing due to the wedding season from Dhanteras, Diwali, to November 14. But, due to geo-politics at the global level, gold prices may increase in the coming times.

Expansion

Gold worth more than Rs 3,000 crore has been sold across the country on Karva Chauth this year, despite the increase in prices compared to last year. Last year, gold worth Rs 2,200 crore was sold on Karva Chauth.

The Confederation of All India Traders (CAT) and the All India Jewelers and Goldsmiths Federation, a large organization of small jewelers of the country, said on Thursday, due to the Corona epidemic, there was sluggishness in the bullion markets across the country on Karva Chauth in 2020 and 2021. But, this time due to the removal of restrictions related to Corona and the perception of people spending more in the festive season, there was a huge crowd in the bullion markets. There was a lot of buying of gold and silver jewellery.

Gold costlier by Rs 3,400

  • This time gold has become costlier by Rs 3,400 per 10 grams as compared to Karva Chauth last year. However, silver remained cheaper by Rs 11,000 per kg.
  • In Delhi, 24 carat gold on Thursday stood at Rs 52,000 per 10 grams. Silver stood at Rs 59,000.

Buzzing markets in these cities including Delhi

CAT National President BC Bhartia said that apart from Delhi, the bullion markets of cities like Mumbai, Agra, Kanpur, Hyderabad, Nagpur, Raipur, Rajkot, Meerut, Kolkata, Amritsar, Jaipur, Bhopal, Indore, Jammu, Lucknow etc. were buzzing.

High demand for these ornaments

Pankaj Arora, national president of All India Jewelers and Goldsmiths Federation, said that this time a large stock of heavy to light jewelery was in the market. On one hand, there was a demand for new designs along with the stock of traditional gold and silver jewelry. Bridal rings, chains, bangles, mangalsutras are in high demand as usual in Tier-2 and Tier-3 cities.

Price will increase in coming time

CAIT’s National General Secretary Praveen Khandelwal said that gold and silver markets remain buzzing due to the wedding season from Dhanteras, Diwali, to November 14. However, due to geo-politics at the global level, gold prices may increase in the coming times.

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