Gold becomes cheaper the day after Dhanteras
Gold/Silver Price Today: A day after Dhanteras, gold has declined in the Indian markets today. On the day of Choti Diwali, December futures gold on the Multi Commodity Exchange (MCX) has lost 0.32 percent. At the same time, the price of December futures silver has fallen by 0.11 percent. Let us tell you that on the day of Dhanteras, the sale of gold jewelery and coins reached the pre-Covid level, regaining the lost luster. Around Rs 75,000 crore were sold across the country on Dhanteras. About 15 tonnes of gold jewelery was sold.
The Confederation of All India Traders (CAIT) said that the jewelery industry has recovered from the slowdown caused by the pandemic. CAIT said that this includes estimated sales of about Rs 1,000 crore in Delhi, about Rs 1,500 crore in Maharashtra, about Rs 600 crore in Uttar Pradesh. In South India, sales are estimated to be around Rs 2,000 crore.
According to Ashish Pethe, Chairman, All India Gem and Jewelery Domestic Council, as the economy recovers, retail gold buying in India is expected to remain strong during Diwali.
New price of gold and silver (Gold Silver Rate on 3rd November 2021)-
On Wednesday, December futures gold on MCX fell by Rs 151 to Rs 47,417 per 10 grams. Gold prices are down around Rs 8,783 per 10 grams from the high levels of August last year. In August, the price of gold had touched the level of Rs 56,200.
At the same time, the price of December futures silver declined by Rs 71 to Rs 63,152 per kg. The festive mood is strong this year with the pandemic under control, low gold prices and a strong wedding season. This year October-November months will account for 40 per cent of the annual sales.
15 tonnes of gold was sold on the day of Dhanteras
On Dhanteras, buying picked up, especially in lighter gold products, with gold prices relatively softer than August’s record low of Rs 57,000 per 10 grams, with intensified in-store and online sales. has come. Around Rs 75,000 crore were sold across the country on Dhanteras. About 15 tonnes of gold jewelery was sold.
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Buying Gold, Gold ETFs or Gold Mutual Funds for Diwali Gifts? so much tax may have to be paid
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