Click to play videoNew Delhi: It's a record sale after Indians bought 56 tonnes or nine truck fulls of gold during the eight days leading up to Diwali - that is seven tonnes every day. Gold prices will go up further but it's worth buying as it is still the safest investment these days.
The amount is three tonnes more than last year at a time when gold prices are at an all time high of Rs 16,000 per 10 grams.
Business Manager, North for Tanishq N Vidyasagar says, "The sales have been very good. We didn't expect such high sales. Despite prices being high we have witnessed a mad rush."
The weakening dollar could push gold prices even higher - near Rs 18,000 for 10 gms, but analysts see no sign of the yellow fever fading with the wedding season kicking off and Christmas and New Year round the corner. More important, gold is the safest investment insurance against the uncertainty of stocks and real estate.
Gold analyst S K Jindal says, "Gold prices are expected to rise further and any time is good time to invest in gold. Don't wait for the prices to fall."
Not just jewellery, Indians also invested in gold through bars and coins. India's Multi Commodity Exchange recorded its highest ever monthly delivery of 5,000 kgs in October and the demand is increasing.
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