Gold Sales: This time gold prices are Rs 3400 more per 10 grams than the last Karva Chauth. But people bought gold jewelery fiercely. Along with this, the booking of jewelry for weddings has already started. Gold prices have jumped during the festive season.
Sarafa Bazar is buzzing in the festive season. Amidst the preparations for Diwali, the fast of Karva Chauth was observed on Thursday. On this occasion, there was tremendous excitement in the gold market. In a joint statement, Confederation of All India Traders (CAIT) and All India Jewelers and Goldsmiths Federation (AIJGF) gave information about the sale of gold before Karva Chauth. He said that jewelery traders also got to see great business on the occasion of Karva Chauth. Also, he told that the season of weddings is going to start from next month. People have already started booking jewelry for weddings.
How much business
CAIT’s National General Secretary Praveen Khandelwal and AIJGF’s National President Pankaj Arora said that on the day of Karva Chauth, gold and gold jewelery worth about Rs 3,000 crore were sold across the country. Last year this figure was around Rs 2,200 crore. If we talk about the rate of this year compared to last year, then gold has become expensive. This time gold prices are more by Rs 3400 per 10 grams as compared to last Karva Chauth. However, there is a fall in the rate of silver and it is cheaper by Rs 11 thousand per kg.
Lives in October-November
According to CAIT, the price of 24 carat gold in the capital Delhi is around Rs 52 thousand per 10 grams. 22 carat gold was sold at a price of about Rs 48 thousand per 10 grams. Khandelwal and Arora said that the months of October and November are considered auspicious for the business of gold and silver. During this, due to all the festivals and then the season of weddings, the bullion market remains bright.
Price jump in festive season
Gold prices have jumped during the festive season. Last month, gold prices had reached 49 thousand rupees per 10 grams. But after the start of the festive season, gold prices have risen. However, after the start of the Russo-Ukraine war, gold prices in India have seen a decline since the end of February 2022. At the end of February, the price of 24 carat gold was around Rs 55,000 per 10 grams. At present it is around 50 thousand rupees.
Gold rate
According to IBJA Rates, gold was sold at the maximum rate of 50,869 on the previous day. Explain that the rate of this gold has been calculated without tax. GST charges on gold have to be paid separately. If you buy gold jewelry, then in addition to GST, making charges are also levied. Because of this the prices of jewelery are high.
