Mumbai, April 8: As Maharashtra gears up to celebrate Gudi Padwa 2024, marking the Marathi New Year, gold retailers are witnessing a remarkable surge in sales despite soaring prices. The festival, deeply rooted in tradition, is considered one of the most auspicious times to purchase gold, leading to a significant increase in activity at gold and silver showrooms across the state.

In keeping with tradition, shoppers are not just limiting their purchases to small items; large gold artefacts and even gold and silver idols for worship are being bought in large numbers. The unwavering belief in the auspiciousness of buying gold on Gudi Padwa seems to override the deterrent of high prices. Gudi Padwa 2024 Food Ideas: From Puran Poli to Aamras, 5 Dishes To Celebrate the Hindu Festival of Maharashtra.

Gold Rates in Different Cities on April 8

City

22 CARAT GOLD PRICE

24-CARAT GOLD PRICE

Chennai

66,140

72,150

Kolkata

65,340

71,280

Gurugram

65,490

71,440

Lucknow

65,500

71,430

Bengaluru

65,340

71,280

Jaipur

65,490

71,430

Patna

65,400

71,340

Bhubaneshwar

65,340

71,280

Hyderabad

65,340

71,280

The bullish sentiment is also reflected in the commodities market, with the Multi Commodity Exchange (MCX) reporting brisk trading in gold futures. Contracts set to expire on June 5, 2024, are priced at Rs 70,599 per 10 grams. Similarly, silver futures with a May 3, 2024 expiration date are traded at Rs 80,850. Gudi Padwa 2023: 5 Anarkali Suits from Alia Bhatt's Wardrobe That You Can Wear On This Special Occasion.

This robust demand underscores Gudi Padwa's cultural significance and impact on the gold market, highlighting the festival's enduring role in driving gold sales, irrespective of price fluctuations.

(The above story first appeared on LatestLY on Apr 08, 2024 08:53 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).