coin-img-ETHETH+4.76%coin-img-SOLSOL+8.06%coin-img-BTCBTC+6.60%coin-img-XRPXRP+10.89%coin-img-ZECZEC-3.05%coin-img-SUISUI+15.25%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE+15.02%coin-img-ETHETH+4.76%coin-img-SOLSOL+8.06%coin-img-BTCBTC+6.60%coin-img-XRPXRP+10.89%coin-img-ZECZEC-3.05%coin-img-SUISUI+15.25%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE+15.02%coin-img-ETHETH+4.76%coin-img-SOLSOL+8.06%coin-img-BTCBTC+6.60%coin-img-XRPXRP+10.89%coin-img-ZECZEC-3.05%coin-img-SUISUI+15.25%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE+15.02%coin-img-ETHETH+4.76%coin-img-SOLSOL+8.06%coin-img-BTCBTC+6.60%coin-img-XRPXRP+10.89%coin-img-ZECZEC-3.05%coin-img-SUISUI+15.25%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE+15.02%
user-avatar
The Economic Times

Ganesh Chaturthi gold sales in India fall about 15% by volume as prices jump to Rs 1.57 lakh per 10 grams

AI Market Summary
India's Ganesh Chaturthi gold sales fell ~15% y/y in volume as local prices surged ~60%, pushing buyers toward lighter jewellery and old-gold exchanges. While jewellery demand softened, continued interest in coins and bars suggests steady physical investment appetite. Resilient wedding and younger self-purchase demand implies the festive slowdown may be more of a timing and price-elasticity effect than a broad collapse in consumption.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-0.66%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Gold sales during Ganesh Chaturthi in India fell about 15% year on year by volume as buyers cut back or shifted to lighter jewellery after a sharp rise in prices, according to industry executives. In Mumbai’s spot market, gold traded at Rs 1.57 lakh per 10 grams with a 3% goods and services tax, up about 60% from Rs 98,000 per 10 gm on August 28 last year. Consumers also stepped up old-jewellery exchanges, while sales of coins and bars and demand tied to weddings and younger self-purchasers remained relatively resilient.
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.
Commodity

Risk Warning

Cryptocurrencies and their derivatives are innovative financial products with great volatility and high investment risks.

Although BingX is committed to providing users with easy-to-use trading tools, trading itself is still a highly sophisticated field. Trading digital assets and their derivatives are subject to high market risk and price volatility and may result in partial or total loss of account funds. You must carefully consider and exercise clear judgment to evaluate your financial situation and the aforementioned risks before using BingX Services. You shall be responsible for all losses arising therefrom. If necessary, please consult relevant professionals to make informed decisions before investing. By accessing, downloading, using or clicking on "I agree" to accept any BingX Services provided by BingX, you agree that you have read, understood and accepted all of the terms and conditions stipulated in BingX Terms of Use as well as our Privacy Policy.


Trading by copying or replicating the trades of other traders involves a high level of risks, even when copying or replicating the top-performing traders. Past performance of a BingX community member is not a reliable indicator of his future performance. Content on BingX's trading platform is generated by members of its community and does not contain advice or recommendations by or on behalf of BingX.