Scrap Monster: E-Bay sold 1 Gold Coin in India each 4 mins on Dhanteras

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(Scrap Monster) – Retail sales of gold throughout Dhanteras dropped by over 50% contrasted to the previous year. Jewellers and bullion traders reported sluggish sales during the occasion. On the other hand, the yellow metal was the preferred choose of online customers, according to India partition of the prominent online shopping location- e-Bay.

As per e-Bay investigation, customers from diverse corners of the country shopped for gold coins on Dhanteras day. Customers from 104 cities disperse across 26 Indian states acquired gold coins online. The most number of buys were described for 10 gram gold coin. Gold coins outshined its shiny counterparts. The sales have been so robust that one gold coin was sold out in every four minutes.

Amidst Indian cities, Mumbai topped the list on online buys, pursued by Hyderabad, Bengaluru, Chennai and Kolkata. On a state-wise rating, Maharashtra appeared the first followed by Andhra Pradesh, Karnataka, Delhi and Tamil Nadu.

According to e-Bay, the online sites encompassing them had come up with many appealing offers to lure customers. furthermore, the customers favoured convenience of buying from their dwelling, rather than buying from shops in busy roads and congested market localities. Gold coin purchase was largest on Dhanteras day, said business spokesperson.

Though retail stores described fall in demand, eBay seen an boost in gold coin sales contrasted to last year.