Jewellers in Mumbai's Zaveri Bazaar are witnessing increased footfall with both Dhanteras and Pushya Nakshatra falling on the same day in 20 years.
To cater to the demand, the market will reamin open till midnight.
Kumar Jain, Vice President, Mumbai Jewellers Association, told Moneycontrol that customers who have pre-booked orders are taking delivery on Dhanteras eve and started making gold jewellery booking for the upcoming wedding season.
The precious metal has given a return of 21 percent from last year to this day on Dhanteras and there is a general feeling among customers that its price is going to rise further, Jain said.
Dhanteras is the first day of the 5-day long Diwali festival and is considered an auspicious day for buying gold, silver and other valuables.
The auspicious mahurat timing on Dhanteras is 9 am to 12:30 pm, 4 pm to 6 pm and 8 pm to 11:30 pm.
The price of gold climbed Rs 275 to Rs 38,725 per 10 gram in Mumbai bullion market while silver jumped Rs 1,240 to Rs 46,775 per kg.
The rate of 10 grams 22-carat gold in Mumbai was trading at Rs 35,500 plus 3 percent GST, while 24-carat 10 gram was Rs 38,725 plus GST. The price of 18-carat quoted at Rs 29,044 plus GST in the retail market.
On the Multi Commodity Exchange, gold for December series was trading up by Rs 139 to Rs 38,491 per gram in the evening trade and touched an intraday high of Rs 38,491 and an intraday low of Rs 38,301.
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