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Consumers spend record Rs 1 lakh crore on Dhanteras

  Gold and silver account for 60 per cent of total sales; up 25 per cent over last year

Despite a sharp rise in prices, Indian consumers spent an estimated Rs 1 lakh crore on Dhanteras this year due to strong buying of gold and silver. Leading trade body Confederation of All India Traders (CAIT) gave this information today. Sales of gold and silver alone accounted for Rs 60,000 crore of total sales, which is a 25 per cent increase over last year. Gold prices have increased by 60 per cent on an annual basis to cross Rs 1,30,000 per 10 grams. Despite this, buyers continued to throng the bullion markets. Pankaj Arora, national president of the All India Jewellers and Goldsmiths Federation, said, “Unprecedented crowding has been seen in the jewellery markets in the last two days.” He said that sales worth more than Rs 10,000 crore were recorded in the bullion markets of Delhi. According to the traders’ group, apart from bullion, on Dhanteras, the sale of utensils and kitchen appliances earned Rs 15,000 crore, electronics and electrical goods Rs 10,000 crore and decorative items and religious items Rs 3,000 crore.

According to information, on the occasion of Dhanteras, the leading car market company Maruti Suzuki sold a record 50,000 vehicles today on the occasion of Dhanteras; Hyundai Motor India has sold around 14,000 vehicles, which is 20 percent more than last year.
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