Two-day pre-Diwali Dhanteras buying of gold and silver began on a positive note on Saturday with some big jewellers and an industry body anticipating a further pickup in demand by Sunday and up to 20 per cent higher sales than the last year.
On Saturday, gold prices were ruling at Rs 50,139 per 10 grams, excluding taxes, in the national capital, much higher than Rs 47,644 per 10 grams on Dhanteras day in 2021. Normally, 20-30 tonnes of gold is sold on a Dhanteras day.
Jewellery and industry experts on Friday said the increase in import duty on gold to 15 per cent will fuel smuggling and urged the government to review the tariff rate on the yellow metal.
Jewellers witnessed heavy interest among customers to buy gold on this Akshaya Tritiya, which is considered auspicious for buying the precious metal, and sales are expected to be 10 per cent higher than last Akshaya Tritiya.
Get latest articles and stories on Latest News at LatestLY. With the economic activities growing gradually after two years of COVID-related disruptions, jewellers are upbeat about this Akshaya Tritiya, expecting sales to surpass the 2019 levels. Latest News | Jewellers Expect Sales During Akshaya Tritiya to Surpass 2019 Level.