Gold worth Rs 20,000 crore sold on Dhanteras, says jewellers body

Mumbai, Nov 13 : The sale of gold this year on the auspicious occasion of Dhanteras has been 30 per cent more than the previous year. People bought gold worth a staggering Rs 20,000 crore during the festival in 2020, according to the India Bullion and Jewellers Association (IBJA). According to IBJA data, the sale of gold on Dhanteras across the country this year was about 40 tonnes, valued at approximately Rs 20,000 crore.
IBJA’s national secretary Surendra Mehta told IANS that last year, gold sales were about Rs 12,000 crore. The figure has risen to Rs 20,000 crore this year.
“Last year, about 30 tonnes of gold was sold. The sale has been about 40 tonnes this year,” Mehta said.
He said that while gold sales have increased by 30 to 35 per cent over the previous year, the price has increased by about 70 per cent.
Mehta said that this time the biggest reason for the increase in gold sales on Dhanteras has been the lack of jewellery sales over the last eight months, which led to pent up demand.
He said that during the lockdown, people could not buy gold jewellery because the market was closed. Now, with a wedding season ahead, people waited for the purchase of gold and silver on the occasion of Dhanteras.