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Lucknow Sarrafa Market Sees Dip in Gold and Silver Sales Despite Surge in Prices
18 Oct
Summary
- Gold and silver sales volumes down 20-30% in Lucknow Sarrafa Market
- Sales value increased due to higher precious metal prices
- Customers prefer lightweight jewelry and silver coins amid price hike
According to the latest reports, the Lucknow Sarrafa Market saw a dip in gold and silver sales volumes this Dhanteras compared to the previous year. The drop in sales volumes, estimated to be around 20-30%, was largely attributed to the surge in precious metal prices.
Despite the decline in sales volumes, the overall sales value in the Lucknow Sarrafa Market experienced a notable increase. This underscores the enduring demand for gold and silver among consumers, even in the face of rising prices.
The Lucknow Sarrafa Market Association reported that by 9:30 pm on Dhanteras, approximately 42 kg of gold worth Rs 55 crore and 850 kg of silver costing Rs 14 crore were sold from jewelry stores across the city. However, these figures represent a decrease from the previous year's Dhanteras sales, which saw 59 kg of gold worth Rs 42 crore and 1,000 kg of silver for Rs 10 crore.
