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Monday, November 19, 2012

India Post hikesdiscount afterrecord gold sale

PATNA: Here is good news for Patnaites: after record sale of gold coins, India Post, Bihar, has now increased the discount on it from 7% to 7.5%.
"Earlier on November 1, like every year, we had launched the sale of 24-carat and 99.9% pure gold coins at 7% discount and the offer was valid till December 31. But after record sale of 17kg of gold on Dhanteras, which is highest in the country, India Post, Bihar, will now be giving 7.5% discount on gold coins from November 19 to November 22 on the occasion of Chhath," Anil Kumar, marketing director, India Post, Bihar, told TOI. Next to Bihar, India Post, Uttar Pradesh, made the highest sale of gold on Dhanteras by selling over 15.5kg of the metal.
On Dhanteras, India Post, Bihar, earned Rs 7.5 crore from gold coin sale, and since then they are selling more than 1.5kg gold every day. From the launch date of the offer, Bihar postal department has sold around 38kg of gold and looking at the increased demand for gold coins here, they have decided to give more discount.
In Bihar, Patna GPO made the highest sale of gold on Dhanteras, which was 3.5kg. Next to it, Siwan, Bhagalpur, Bankipore (Patna), Purnia and Motihari head post offices sold the maximum gold coins.
On Dhanteras, the sale price of gold was Rs 35,565 per 10 gm. "Mostly, gold coins weighing 10 gm were in demand," said Kumar. The postal department also sells gold coins of 0.5 gm, one gm, five gm, eight gm, 10 gm, 20gm and 50gm.
As many as 10 postal offices, including the ones at Sheikhpura, Aurangabad, Katihar and Buxar, have run out of stock.
India Post has entered into a tie-up with Reliance Money, a unit of Reliance Capital Limited, and is selling 24-carat, 99.9% pure fine gold Suisse which is certified by Valcambi, Switzerland. It also bears the logo of Department of Posts and comes in a foolproof, tamper-proof, high-quality and high-strength polymer boxes.
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