Compared to last year, this year gold rose by Rs 3400 hundred per 10gm and silver took a fall by Rs.11 thousand per kg
New Delhi, NFAPost: Leaving behind the deep fall in business in the last two years due to covid, the festive season in this year is all set to tremendous rise in business especially in the jewellery business on the occasion of Karva chauth on Thursday which is one of the holiest day in the life of an Indian women across the country.
The Confederation of All India traders (CAIT) and All India Jewelers and Goldsmiths Federation (AIJGF) said in a joint statement that jewelry traders across the country have made significant growth in sales today in comparison to past years. According to Indian tradition, booking of gold ornaments etc. has also begun today for the upcoming wedding season starting from November.
CAIT Secretary General Praveen Khandelwal and AIJGF National President Pankaj Arora said that on Thursday the sale of gold and silver jewelry across the country is about Rs 3000 crores whereas last year this business was about Rs 2200 crore.
“The gold was reported costiler today at Rs 3400 per 10 grams but silver stands cheaper by Rs 11,000 per kg, then the last year prices. In Delhi, on the occasion of Karva Chauth, the price of 24 carat gold is Rs 52,000 and 22 carat gold is Rs 48,000 per 10 grams, while silver is Rs 59,000 per kg. They further added that in view of the geopolitical upheaval at the international level, there is a possibility of an increase in the prices of gold in the coming time,” said CAIT Secretary General Praveen Khandelwal and AIJGF National President Pankaj Arora.
The trade association leaders said that the month from October to November is considered very auspicious for the traders of gold and silver across the country from the point of view of business.After Karva Chauth on Thursday Pushya Nakshatra, Dhanteras, Laxmi Pujan, Deepawali, Bhaiya Dooj, Chhath Puja and Tulsi Vivah festivals are to be celebrated with much fanfare.
CAIT National President BC Bhartia said that apart from Delhi, the jewelry markets across the country including Mumbai, Agra, Kanpur, Hyderabad, Nagpur, Raipur, Rajkot, Coimbatore, Kolkata, Meerut, Amritsar, Jaipur, Bhopal, Indore, Ahmedabad, Surat, Chennai, and the jewelry markets in cities like Trivandrum, Bangalore, Jammu, Luck. etc, have also done a tremendous business in gold and silver.
“The jewellery traders made special decorations in their shops and have kept a lot of stock of new and various attractive designs of ornaments etc,” said CAIT National President BC Bhartia.
CAIT Secretary General Praveen Khandelwal and AIJGF National President Pankaj Arora said that in view of the slight stability in the prices of gold and silver in the market, this year, special types of jewelry were sold for the upper class, there was also a large stock of light weight jewelry purchased by mass people.
“On the one hand there was a huge demand for new fashion jewelry, the stocks of traditional gold and silver jewelry also did huge business. Bridal rings, chains, bangles, collar sets, mangalsutras were in high demand today. On the other hand pazeb, nettle, half kamarband etc. in silver were also bought on a large scale in Tier 2 and Tier 3 cities. They further said that in the last many years the demand for artificial jewelry including chick and polki sets are being demanded in the market accordingly today also there was a huge demand of these items by the people,” said CAIT Secretary General Praveen Khandelwal and AIJGF National President Pankaj Arora.
