Mirroring slowdown in the economy, this year’s Dhanteras gold and silver sales failed to bring precious metals’ shine back. The high price of gold and muted market sentiments brought Dhanteras demand as much as 40 per cent low. Lightweight gold and diamond jewelries were among the popular items this Dhanteras.
On Friday, prices of the yellow metal were hovering around Rs 39,240 per 10 gram in New Delhi, close to the high of Rs 40,000 mark.
As per the data revealed by the Confederation of All India Traders (CAIT), approx 6,000 kg of gold worth Rs 2,500 crore was estimated to have been sold till evening on Dhanteras. In 2018, 17,000 kg of gold worth Rs 5,500 crore was sold on the auspicious day.
Jewellers at Zaveri Bazar were optimistic that the coming wedding season would witness a significant rise in heavy gold jewellery demand.
(With input from agencies)