Swiggy Instamart Expands Its Product Portfolio This Dhanteras
Quick-commerce major Swiggy Instamart has announced that it will deliver 1kg silver bricks along with gold and silver coins in some metro cities on the occasion of Dhanteras, the company said in a release on Thursday. This move is expected to provide Indian consumers with a unique gifting option during the festive season.
Instamart has partnered with brands like Malabar Gold and Diamonds, Kalyan Jewellers, Muthoot Exim, Mia by Tanishq and new entrants like Gullak to offer certified gold and silver coins. It will also deliver other items like silver jewelry and utensils for the occasion.
Certified Gold and Silver Coins
Customers will be able to order gold in weights ranging from 0.1 gram to 10 gram and silver brick of 1 kg in ranging prices. In addition, Instamart rolled out an exclusive early bird offer for the first 10,000 customers purchasing gold coins of 1 gm or above on Dhanteras, who will receive a Rs 100 discount.
"All gold coins bear 999 hallmarking and involve no making charges, while silver coins are certified in purity," Swiggy said in its statement. This certification ensures that the gold and silver coins delivered by Instamart are of high quality and authenticity.
Demand for Gold and Silver on Instamart
Over the past few years, demand for gold and silver on Instamart has seen steady uptake, especially during festivals like Akshaya Tritiya and Dhanteras. Last year, cities such as Bengaluru, Hyderabad, Mumbai, Delhi-NCR, and Ahmedabad placed the most precious-metal orders on the platform. The 1 gm gold coin remains the most popular denomination, the company added.
Gold Prices Scale New Peak
Gold prices scaled a new peak for the fourth consecutive session in the international market on Thursday. The precious metal jumped 0.5% to $4,227 an ounce in the spot market.
Ahead of Diwali, MCX gold prices reached a new record high of Rs 1,28,395 per 10 grams on Thursday.
Spot silver prices jumped 0.4% to $53.25, just a few cents lower than its life high. Palladium and platinum were up 0.5% and 0.6%, respectively. On MCX, silver also climbed to Rs 1,64,660 per kg.
Investing in Gold and Silver
For Indian investors, gold and silver are popular investment options, especially during festive seasons. With Swiggy Instamart’s new offering, investors can now purchase certified gold and silver coins, and 1kg silver bricks, from the comfort of their homes.
However, it’s essential to note that investing in gold and silver should be done after careful consideration of market trends and prices. Investors should also ensure that they are purchasing from reputable sources, such as Malabar Gold and Diamonds, Kalyan Jewellers, and Muthoot Exim, to avoid any potential risks.
Conclusion
In conclusion, Swiggy Instamart’s new offering of certified gold and silver coins, and 1kg silver bricks, is a unique gifting option for Indian consumers during the festive season. With the demand for gold and silver on the rise, especially during festivals like Dhanteras, this move is expected to provide a boost to the company’s sales. However, investors should exercise caution and do their research before investing in gold and silver.