Gold worth Rs 110 crore sold in Odisha on Dhanteras

Bhubaneswar: Notwithstanding  the record high price of gold,  showrooms in Odisha witnessed a robust business of Rs 110 crore on  the occasion of Dhanteras yesterday.

Decorated with lights and flowers, showrooms across the state were received heavy footfalls yesterday. Besides gold jewellery, customers were seen purchasing gold and silver coins, diamond and platinum jewellery.

In a single-day, people of the state purchased around two quintals of gold worth over Rs 110 core yesterday. And maximum gold were sold in the Twin City of Cuttack and Bhubaneswar. People of the two cities purchased gold worth around Rs 80 crore.

Despite the COVID-19 crisis, gold showrooms made a good business as compared to last year.  Market excerpts cited various reasons for the growth in gold sale. They opined that people, including salaried persons had not shopped anything since long due to the pandemic that resulted in an increasing in their savings. Moreover, marriages  that have been deferred due to lockdowns and shutdowns are lined up for November and December. All these factors coupled with a slight drop in price in the last couple of days have pushed the gold sale in the state, said an expert .

Moreover, investment in gold has proved to profitable in the recent years.  And lucrative offers provided by showrooms on Dhanteras attracted a very good number of customers to buy the gold metal yesterday, said a trader adding that showrooms witnessed such a robust sale after around seven to eight months.

Yesterday, the price of the yellow metal was Rs 51,000 per 10 grams in the state capital.