The retail trade nationwide is estimated at around ₹60,000 crore over Dhanteras, a national traders' body said on Tuesday.
In a statement, the Confederation of All India Traders (CAIT) said nationwide, around ₹20,000 crore worth of gold and ₹2,500 crore worth of silver were sold today on the occasion of Dhanteras.
Pankaj Arora, CAIT’s All India Jewelers and Goldsmith Federation (AIJGF) national president, was quoted in the statement saying that there was high demand for gold and silver.
He, however, said that while fewer items were sold in weight due to rising prices, sales rose in monetary terms.
“This year, around 25 tonnes of gold were sold nationwide, valued at around ₹20,000 crore, while approximately 250 tons of silver were sold for an estimated ₹2,500 crore. Additionally, demand for old silver coins surged, with prices ranging between ₹1,200 and ₹1,300 per coin,” Pankaj Arora said.
In Delhi, Dhanteras sales surged in popular retail markets, including Chandni Chowk, Sadar Bazaar, South Extension, Greater Kailash, Green Park, Lajpat Nagar, and Laxmi Nagar.
Dhanteras 2024 marks the beginning of the five-day celebration of Diwali.
Devotees worship Lord Kubera, Goddess Lakshmi, and Lord Dhanvantari on this day and seek blessings for wealth and health.
It is also considered extremely auspicious to buy gold and silver items on this day. Purchasing other items like utensils, broomsticks, etc., is also considered auspicious.
(By arrangement with livemiint.com)