The jewellers association in India has revelaed that the sale of precious metal has created a new record in this festival season. The Indian Bullion and Jewellers Association has informed the sale of gold on ‘Dhanteras’ was more than expectation.
Around 30 tonnes of yellow metal was sold on the day. But it was registered lower when compared to the previous year’s sales. In the past few years around 40 tonnes of gold were sold on the Dhanteras day.
The sale of gold was dropped by 25% this year. This is due to the high price of gold and liquidity crunch in the market.
But the jewellers are expecting only a sale of 20 tonnes this year. But the sale has crossed the expectation.
The price of gold was Rs.38,725 per 10 gram on Friday. last year it was only Rs.31,702 per 10 gram.
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