Gold, Silver Sales Cross Rs 30,000 Crore On Dhanteras, Setting New Record

New Delhi: On the auspicious occasion of Dhanteras, the nationwide gold and silver trade reached an impressive Rs 30,000 crore, contributing to an estimated total festival-related trade of over Rs 50,000 crore across the country. Delhi alone made a noteworthy contribution of Rs 5,000 crore to this festive economic activity, marking the commencement of the five-day Diwali festival.

According to the Confederation of All India Traders (CAIT), the purchases during this festive season included idols or pictures of deities like Ganesh and Lakshmi, as well as a substantial quantity of vehicles, gold and silver ornaments, brooms, utensils, kitchen appliances, and electronics items.

The National President of All India Jewelers and Goldsmiths Federation, Pankaj Arora, reported a turnover of approximately Rs 30,000 crore for gold, silver, and related items nationwide. Gold items constituted about Rs 27,000 crores, surpassing last year’s Dhanteras business of Rs 25,000 crore, while silver trade amounted to about Rs 3,000 crores.

BC Bhartia and Praveen Khandelwal, CAIT’s National President and National General Secretary, respectively, highlighted that an estimated 41 tonnes of gold and 400 tonnes of silver jewellery and coins were sold on Dhanteras. The country, with approximately 4 lakh small and large jewellers, saw 1 lakh 85 thousand registered with the Bureau of Indian Standards.

Dhanteras, associated with the worship of Lord Dhanvantari for health and wellness, witnessed a surge in the purchase of yellow items and gold. This year, gold is priced at Rs 62,000 per 10 grams compared to Rs 52,000 last year, while silver, which sold at Rs 58,000 last Diwali, is now priced at Rs 72,000 per kg.