Festive season propels demand for gold jewellery

The festive season in Gujarat, coupled with a decline in gold prices, has led to a rise in demand for gold and gold jewellery. Data from the Ahmedabad Air Cargo Complex shows that 6.8 metric tonnes of gold was imported in September this year, up 52% compared to September 2022. Gold prices have fallen, leading to jewellers offering discounts to attract customers. The India International Bullion Exchange also saw record high trading during the month. Silver prices have also declined.