NEW DELHI, Oct 21: Precious metal sales sparkled on ‘Dhanteras’ festival with MMTC-PAMP India today saying it has sold out its entire inventory of gold and silver coins.
Dhanteras, the first day of Diwali, is considered to be auspicious for buying gold, silver and other valuables.
“We have sold our entire stock of gold and silver coins. We had minted 1.5 lakh pieces of silver coins and 25,000 pieces (1.5 tonnes) of gold coins for sale during Diwali,” MMTC-PAMP India President (Marketing) Vipin Raina told.
The company has sold both Royal Mint’s gold and silver Sovereign commemorative coins as well as normal coins. “Total sales today are up by 40 per cent from over the last Dhanteras day. Gold demand is robuston account of lower prices,” he said.
Gold prices are ruling at Rs 27,925 per ten gram in the national capital today, much lower than Rs 31,300 per ten gram on Dhanteras day in 2013.
MMTC PAMP India, a joint venture between state-run MMTC Ltd and PAMP Switzerland, currently has 80 distribution centres in the country.
India is the world’s largest gold consumer and gold coins play a key role in Indian wedding ceremonies and festivals throughout the year. (PTI)
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