Mr. Rajesh Rokde, Chairman, GJC
Gudi Padwa was overall very successful across India. In Maharashtra, it holds special significance as it marks the New Year, which is why its importance is even higher here. In states like Karnataka and Kerala, similar festivals such as Ugadi were celebrated at a regional level.
Overall, today turned out to be a very good day. In terms of value, it was more than 10% higher compared to last year. There is a strong tradition of making purchases on the शुभ मुहूर्त of Gudi Padwa and during festivals like Ugadi every year.
One of the key reasons behind this is the price trend last year, gold was around ₹88,500, whereas this year it has reached approximately ₹1,48,000+. Similarly, silver, which was around ₹1,03,000 on Gudi Padwa last year, is now close to ₹2,45,000. This clearly indicates that, over the long term, prices tend to rise, and customers are well aware of this.
In the short term, prices did fluctuate 2–3 times during the day, but overall, customers were very enthusiastic and there was strong buying sentiment. Attractive offers by jewellers across the country also played a big role in driving this demand. Wedding jewellery, in particular, saw significant buying.
If I look at the overall picture across India, I estimate that business worth around ₹22,000 crore may have been done in a single day.
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