Gold & silver shine this Gudi Padwa, jewellers in Nashik peg sales at 70cr

Nashik: Yellow metal continued to shine on the auspicious occasion of Gudi Padwa, or Maharashtrian New Year, despite a sharp rise in gold prices in the past year.According to jewellers, Nashik city's gold markets registered around Rs70 crore in business on Gudi Padwa, nearly matching last year's festive sales.Gold prices stood at Rs1.46 lakh per 10g on Thursday, compared with Rs89,800 per 10 gm on the same day last year. In 2024, gold was priced at Rs72,400 per 10g on Gudi Padwa. All prices are excluding GST.Silver was sold at Rs2.35 lakh per kg on Thursday, up from Rs1.05 lakh per kg on Gudi Padwa last year."Gudi Padwa is an auspicious day to purchase gold. Many buyers also purchase gold from an investment perspective," said Girish Navase, president of the Nashik Jewellers Association. "Demand has also been high for gold coins and bars."A huge rush of customers was seen on Thursday after 3pm. Jewellers said the price of gold had dropped by nearly Rs7,000 per 10 gm over the last 24 hours, which also contributed to the spike in footfall.However, in the real estate sector, enthusiasm was subdued due to the conflict involving the US, Israel and Iran. According to Confederation of Real Estate Developers Association of India (Credai) Nashik, around 100 flats worth Rs40 crore were booked on Gudi Padwa. There were also no major launches of new residential or commercial projects in the city. "Around 100 flats were booked on Gudi Padwa. People are thinking twice before investing in real estate due to uncertainty created by the ongoing geopolitical situation," said Gaurav Thakkar, who is the president of CREDAI Nashik. The automobile sector reported moderate business. Market sources said around 700 four-wheelers worth Rs65 crore and nearly 1,200 two-wheelers worth Rs12 crore were sold on the occasion.