Dhanteras Sparks Gold and Silver Buying Spree

Gold and silver purchases witnessed strong momentum across India on Dhanteras this year, with a slight recent dip in gold prices encouraging consumers to make purchases. The All India Gem and Jewellery Domestic Council (GJC) estimated that the value of gold sales could rise by 15–20 per cent to around Rs. 60,000 crore on the festival day. Compared with the record prices recorded on January 29, gold rates have eased somewhat. In Delhi and other markets, the price of 10 grams of 24-carat gold stood at approximately Rs. 1,46,300. However, prices remain higher than they were during Dhanteras last year. Silver prices, meanwhile, reportedly fell nearly 52 per cent from their January peak to around Rs. 1,92,500. The decline in prices encouraged buyers to return to jewellery stores and bullion markets.

With precious metal prices still high, consumers adopted more budget-conscious buying strategies. Instead of opting for heavy ornaments, many preferred lightweight jewellery and 18-carat gold items. Demand increased for small gold coins, bars, pendants, bangles and chains. Traders also reported encouraging responses from first-time buyers in smaller cities such as Jaipur, Surat, Dehradun and Raipur. Exchanging old gold for new jewellery continued to support sales, while digital gold and gold ETFs also attracted buyers. Leading jewellery companies, including Kalyan Jewellers, Senco Gold, PNG Jewellers and PC Jeweller, reportedly recorded sales growth of 25–50 per cent. Many customers completed their purchases ahead of the upcoming wedding season. According to estimates by the Confederation of All India Traders (CAIT), gold and silver sales across the country over the past few days crossed Rs. 66,000 crore, with the Delhi bullion market alone accounting for more than Rs. 10,000 crore. The festive buying activity has brought fresh momentum to India's jewellery and bullion trade.