Coming out of the Koro epidemic and economic crisis, Gujaratis are turning to buying gold-silver, realty, new vehicles, etc. during the Diwali festival. Gold-silver, house purchase is considered auspicious on the day of Pushyanakshatra and Ghanteras before the festivals of Diwali.
In both these days, Gujaratis buy the most gold and silver. Even in the midst of economic transition, market leaders estimate that Gujaratis will buy more than Rs 500 crore worth of gold and silver in two days, giving the best returns and being considered a safe haven and alternative for investment. Gold is estimated to sell an average of 500 kg and silver 400-450 kg.
On the one hand, interest rates on fixed deposits have been steadily declining, uncertainty over returns on equity mutual funds, bonds and small savings schemes, on the other hand, as returns in other investment mediums are negligible, investment experts say Gujaratis will prefer gold and silver this year as well.
In 2019, the price of gold will be Rs. 39500 which is now around Rs. 54000. As a result, on average more than 30 per cent returns are being released. Similarly, silver also lost Rs. The price has gone up from Rs 47,000 to Rs 66,500 per kg.
In 2019, the price of gold will be Rs. 39500 which is now around Rs. 54000. As a result, on average more than 30 per cent returns are being released. Similarly, silver also lost Rs. The price has gone up from Rs 47,000 to Rs 66,500 per kg.
Dhanteras gold-silver price position
Date | Gold | Silver |
25-11-2011 | 28900 | 54800 |
11-11-2012 | 32250 | 60800 |
1-11-2013 | 31100 | 48300 |
21-10-2014 | 27800 | 38600 |
9-11-2015 | 26400 | 35400 |
28-10-2016 | 30600 | 42200 |
17-10-2017 | 30800 | 40600 |
5-11-2018 | 32900 | 39100 |
25-10-2019 | 39500 | 47000 |
13-11-2020 | 55000* | 67000* |
(Note – Gold price per 10 grams, silver price per kilogram)
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White Gold, Platinum Investment Against Gold and Silver Indicates 25-30% Return Next Year
- 500 kg of gold will be sold in Gujarat in two days of Pushyanakshatra and Ghanteras
- More than 400 kilograms of silver are expected to be sold in two days
- Investors have received more than 30% return in gold-silver in the last one year
- Gold and silver worth Rs 1,000 crore is expected to be sold in two months during the festival
- Investors will buy through a 60% buy investment
- 40% of people would prefer jewelry in a marriage-moment
- 35% of people are focusing most on light weight jewelery due to its high price
Auspicious Pushyanakshatra-Dhanteras for gold-silver purchase
Astrologer Dr. “For decades, Pushyanakshatra and Ghanteras have been the best days to buy gold and silver and this is the day when most yellow metals are bought,” said Hamil Lathia. This year Pushyanakshatra Ta. November 6 is a Saturday in which shopping from 8-10 to 9.35 in the morning, 1.50 to 4.30 in the afternoon and 6.01 to 7.20 in the evening will be excellent. When Ghanteras Ta. November 13 is a Friday in which shopping is best between 6.55 to 11.00 in the morning, 12.25 to 13.45 in the afternoon and 16.35 to 17.50 in the evening.
Diamond Jewelry for Mass Not Class
Parth Patel, founder of Finnati Brand-Samarth Group, said that gold-silver jewelery was predominant in the modern age but has changed in the modern era. The youth are now attracted to platinum and diamond jewelery. Among the developed countries of the world, the craze of diamond jewelery is seen more than gold, which is also a trend in India.
At festivals, birthdays, anniversaries, ringsarems, marriages, diamond jewelery is on the rise. It is not fair to compare between gold and diamond jewelery. There is a saying that diamonds are very difficult to discern. The better the cut, the higher the price of diamond … Diamond jewelery starts at Rs. 50000 to Rs. Up to a set of 2.5-3 crores. Gujaratis have also started buying diamond sets worth Rs 2 crore.
India is famous in the world for polished diamonds, especially the diamond-artists from Gujarat are famous all over the world. 90% of polished diamonds are exported to the world’s top countries such as Hong Kong, Dubai, China, Indonesia, Cambodia, USA-UK, Belgium, Switzerland.
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The craze for white gold, platinum jewelry
Ajay Kedia, Director, Kedia Commodities, said that the craze for platinum jewelery as white gold has been steadily increasing for the last few years. Due to high gold prices, investors and consumers are now preferring platinum jewelery. The bullion charge is higher than gold which is affecting trade. Platinum is likely to return twice as much as gold-silver in the near future. Platinum is currently trading at 8 850-875 which could go as low as 7 730 and as high as 12 1250 by 2021.