Diwali 2021: People will buy gold jewelery fiercely this Diwali, gold is going to be expensive soon!

Gold Price: This year, on Dhanteras 2021, there can be a great boom in the gold market. Amid the revival in the Indian jewelery market, bullion traders are expecting strong sales on Dhanteras this year. With the fear of the third wave of Kovid-19 subsiding, there is enthusiasm among the people about the festive season as well as there is a softening of gold prices at this time. In such a situation, the jewelery market is expected to remain bright.

demand will pick up
A body of the jewelery industry said that it is expected that this year’s festival jewelery sales will reach the pre-Covid level of 2019. The reason for this is that at present, the price of 10 grams of gold is Rs 46,000-47,000 per 22 carat, which is about five percent less than 2020. Along with this, now there is an increase in marriage and marriage events.

Gold will shine this year
Last year, due to Corona, the brightness of the market was very dim, but this year along with the market in the festive season, the prices of gold are also increasing. It is expected that the upward trend in gold prices may continue till Diwali.

Know what Ashish Pethe said?
All India Gems and Jewelery Domestic Council President Ashish Pethe told PTI, “The market is showing demand since Navratri. It will continue on Dhanteras as well. With the pandemic under control this year, gold prices will come down. And with the wedding season intensifying, the festive spirit remains high. This year the sales in the months of October-November will contribute 40 per cent of the sales for the entire year.” The apex domestic body of the gems and jewelery industry expects the industry to return to pre-2019 levels in 2021. However, the price of gold is almost 20 percent higher than the 2019 level.

May increase by 15 to 20 percent
Senco Gold & Diamonds Ltd. Chief Executive Officer (CEO) of Suvenkar Sen said, “Sales are expected to return to pre-COVID-19 levels with an increase of 15-20 per cent over last year. After two years of mental anxiety and challenges Customers want to spend and invest in jewelery for their happiness and wealth creation.”

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