New Delhi, Oct. 19 -- The festive season is in full swing, with lakhs of Indians buying gold on Dhanteras and Diwali. Consumers are buying gold jewellery prior to the wedding season as well, since it is soon to kick in too. Dhanteras and Diwali are considered auspicious occasions to buy gold.

According to trading bodies, Indians have already purchased gold worth Rs.60,000 crore on the occasion of Dhanteras. Jewellers are expecting this number to increase even as volume dipped this year on Dhanteras due to a surge in gold prices, which reached a peak of Rs.1,32,000 for 10 grams. However, the steep increase in gold price during Dhanteras has prompted the record amount of purchase.

In India, consumers usually invest in physical gold, like ...