Dhanteras Makes Silver Coins Sparkle, Jewellery Loses Sheen
Gold and silver coins, including those bearing Ashok Chakra, are getting some extra shine on Dhanteras today instead of jewellery as consumers are on a buying spree lured by lower prices.
Dhanteras is considered to be an auspicious day for buying gold, silver and other valuables and is largely celebrated in North and West India.
According to jewellers and MMTC-PAMP India, the buying activity remained robust in the first half of the day at most places. More than jewellery, there is a strong demand for gold and silver coins.
We see sales of gold coins to rise by up to 25 per cent and silver coins may double from last Dhanteras," MMTC-PAMP India President (marketing) Vipin Raina told PTI.
There's demand for Ashok Chakra coins as well, which were launched recently by the Prime Minister and are being sold through 125 MMTC outlets across the country, he added.
Mr Raina felt that demand for gold and silver, which has improved in the last few days buoyed by low prices, is "certainly better" than last year's.
Bombay Bullion Association former president Suresh Hundia said, "There is more demand for gold and silver coins in smaller value up to 10 grams.