Online gold and silver sale may triple this fiscal

The online sale of gold and silver is likely to triple in this fiscal, says a report.

The report adds further, as per the rough estimates, the e-commerce market of gold and silver in the country has surpassed Rs 500 crores. While jewellery and coins are getting the maximum demand, Gujarat has accounted for 10-15 per cent of the total online sales. Two years ago the online market was worth Rs 300 crore.

Lately, the slowdown in gold market has affected online sales too. But with the festive season nearby, the demand is likely to pick up. The bullion sales through online platform are expected to triple during the current fiscal, adds the report.

In the recent past, the online sales have been on the rise owing to the ease of placing orders, door step delivery and zero-brokerage.