Jewellery sale on Karva Chauth: Gold, silver sold worth Rs 3,000 crore across India

Jewellery sale: After two years of pandemic when life came to a standstill, sale of gold and silver is hitting the sky. According to reports, gold and silver jewellery worth around Rs 3,000 crore, were sold on Thursday. This is 36 percent rise over the previous year.

Diwali is still nearly 10 days away but jewellery stores across the nation witnessed heavy footfall on Karwa Chauth. A joint statement issued by the Confederation of all India Traders (CAIT) and All India Jewellers and Goldsmith Federation (AIJGF), said jewellery business saw unprecedented sale on Karwa Chauth. It said sale of gold and silver jewellery across the country on Thursday was around Rs 3,000 crore as against around Rs 2,200 crore a year ago. It said gold and silver jewellery worth around Rs 3,000 crore, were sold on Thursday on the occasion of the festival.

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Bookings begin

And though the wedding season will begin only next month, people have already started booking jewellery.

“October and November are considered very auspicious for the traders of gold and silver across the country from the business point of view. After Karva Chauth, other festivals including Pushya Nakshatra, Dhanteras, Laxmi Pujan, Deepawali, Bhaiya Dooj, Chhath Puja and Tulsi Vivah are also celebrated with much fanfare,” said CAIT’s secretary general Praveen Khandelwal and AIJGF president Pankaj Arora.

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Huge business

The two added that people majorly bought lightweight jewellery but fashion jewellery and traditional gold and silver jewellery also did huge business.

“On one hand there was a huge demand for new fashion jewellery, the stocks of traditional gold and silver jewellery also did huge business. Bridal rings, chains, bangles, collar sets, mangalsutras were in high demand today. On the other hand pazeb, nettle, half kamarband etc. in silver were also bought on a large scale in Tier 2 and Tier 3 cities,” they said.

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