Gold sales likely to revive during Diwali as KYC norms eased

Gold sales are likely to revive during the ensuing Diwali festival with the government revoking an order that mandated PAN and Aadhaar cards for purchases above Rs 50,000, an industry body said.

Higher sales are expected on Dhanteras to be celebrated on October 17 this year. Dhanteras is considered to be an auspicious day for buying gold, silver and other valuables and is largely celebrated in North and West India.

Gold prices were ruling firm at Rs 30,555 per 10 grams and silver at Rs 40,600 per kg in the national capital as of Saturday.

"This is a big relief and there could not have been a better Diwali gift than this for both jewellers and consumers," All India Gems and Jewellery Federation Chairman Nitin Kandelwal told

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)