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Gujarat's Gold Demand Rises 188% Driven by Wedding Season Purchases

Wedding season demand has driven gold imports in Gujarat up by 188% in February, according to reports. Despite high prices, 5.5 metric tonnes of gold was imported, compared to January's 1.91 MT. While the figure remained flat against the same period last year, demand has remained high due to the wedding season. This has led to many jewellery purchases being made ahead of weddings. The price of gold in the Ahmedabad market was Rs 57,800 per 10g on Saturday. However, with the Holashtak period now considered inauspicious for purchases, demand is expected to weaken in the coming months.

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