Around 700 post offices across the country would sell gold coins this year.
In 2009-10, around 25,000 investors purchased gold coins from 500 outlets. This year, the number is already 40,000.
"While the price has been going up (it ended last week at Rs 26,860 per 10g), consumers are expecting even higher prices. We anticipate the festival season to be a roaring success," says Ajay Mitra, managing director-India, World Gold Council (WGC).
WGC is planning elaborate campaigns across the media and on-ground promotions beginning October 1.
India Post, which recently got into the selling of gold coins, has also ramped up capacity for the festival season.
"India Post has added 200 outlets this year. Many, are in the South. We are expecting good sales through this channel, too," says Mitra.
Text: Business Standard
Image Courtesy: India Post