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Dhanteras gave life to the bullion market

Dhanteras 2021: Today was a big day for gold traders. Today, on Dhanteras, about 15 tonnes of gold has been sold all over the country, whose total value was seventy-five hundred (75,00) crores. Today, about 250 tonnes of silver have been sold, the total value of which was seventeen hundred (17,00) crores.

The market will benefit from the wedding season after Diwali.

Praveen Khandelwal, General Secretary, Confederation of All India Traders (CAT), told ABP News that after two years, the market has returned to light. Traders across the country are happy that the country’s economy is getting back on track. After Diwali, now the wedding season will come, then gold traders from all over the country will gather for the wedding season.

Bullion traders across the country have made elaborate preparations for the availability of gold jewelery and other items in view of the demand of customers during the festival of Diwali and the wedding season that begins after it.

Sales have exceeded expectations on Dhanteras

The familiar smile on the faces of the bullion traders, who had been hit by a severe recession in the last two years, came back on the day of Dhanteras on the day of Dhanteras when bullion traders across the country, including the capital Delhi, expected gold, silver jewelery and other items. Sold more than

Statement of All India Jewelers and Gold Smith Federation

Confederation of All India Traders (CAT) and CAT’s jewelery wing All India Jewelers and Gold Smith Federation (AIGF) said in a joint statement that today on Dhanteras, about 15 tonnes of gold jewelery was sold across the country which is about 7.5 thousand crores. is Rs. Apart from other states of the country, where the business of about 1000 crores was done in Delhi, about 1500 crores was done in Maharashtra, about 600 crores in Uttar Pradesh, gold jewelery traded about 2000 crores in South India.

The festival of Dhanteras is associated with the churning of the ocean

On the Trayodashi date of Krishna Paksha of Kartik month, Lord Dhanvantari had appeared with the nectar urn at the time of churning of the ocean, hence this date is known as Dhanteras or Dhantrayodashi.

The practice of buying gold and silver on Dhanteras is centuries old.

Gold and silver have been the first choice of investors in the country since ancient times. Indian families buy goods in gold and silver on the day of Dhanteras according to their status, while the custom of buying utensils also has been going on for a long time.

Dhanteras 2021: Dhanteras gave life to the bullion market, signs of the economy getting back on track

Dhanteras has its own special significance in all the festivals in the country since ancient times. On this day people across the country buy gold, silver utensils, coins or jewellery. It is believed that buying money (things) on this day increases it thirteen times.

Gold imports have already increased

Pankaj Arora, National President, AIJGF said that India’s gold demand grew by 50% year-on-year in the July-September quarter after a strong jump in economic activity and improved consumer demand this year. In the first half of 2021, 700 tonnes of gold has been imported, which is more than the previous year.

Control over Corona has given life to the market

Along with jewelry, there is a possibility of big sale of gold and silver coins, notes, sculptures and utensils. After 19 months of the Korana period, this brightness is being seen for the first time in the jewelery market of the country. Due to this, bullion businesses across the country are excited. The good thing is that buyers are attracted to bullion for their own use along with jewelery and other products for the investor. The major reason for this enthusiasm is the low level of corona cases in the country and the record quantity of anti-Covid vaccination.

What is the price of gold and silver sold today

In the year 2019, the price of gold was Rs 38923 per 10 grams and the price of silver was Rs 46491 per kg whereas in the year 2020, in the month of November, the price of gold increased to Rs 50520 per 10 grams and the price of silver increased to Rs 63044 per kg. Whereas today, on the day of Dhanteras, the price of gold stood at 49300 per 10 grams while the price of silver was 66300 per kg.

Gold consumption compared to 2019

Due to the Corona epidemic, where the consumption of gold ornaments in the country was 101.6 tonnes in the second quarter of the year 2019, the consumption fell by 48% to 52.8 tonnes in the second quarter last year, whereas in the first half of this year about 700 tonnes of gold Import shows that the business of gold will be very good this year.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.

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