Jewellery markets across India are gearing up for a busy Dhanteras, with gold and silver sales projected to exceed Rs 50,000 crore nationwide, according to estimates from the Confederation of All India Traders (Cait) and the All India Jewellers and Goldsmith Federation (AIJGF).
Despite record-high prices, shoppers are flocking to stores in major cities, including Delhi, Mumbai, Jaipur, and Ahmedabad, reflecting sustained festive enthusiasm. Traders report a marked increase in the sale of gold and silver coins, while demand for heavy jewellery has moderated.
Cait Secretary General and Chandni Chowk MP Praveen Khandelwal, along with AIJGF National President Pankaj Arora, said rising prices have influenced buying patterns. “Consumers are preferring gold and silver coins as investment options, while lightweight jewellery remains the choice for weddings and gifting,” they said.
Gold prices, which were around Rs 80,000 per 10 grams last year, have climbed past Rs 1,30,000 this year, a nearly 60 per cent increase. Silver has also surged, from Rs 98,000 per kilogram in 2024 to over Rs 1,80,000 now, up 55 per cent.
In Delhi alone, sales on Dhanteras are expected to reach Rs 8,000–Rs 10,000 crore, with markets such as Chandni Chowk, Karol Bagh, and Lajpat Nagar reporting strong footfall.
A joint Cait-AIJGF survey indicates that bullion and coin purchases will dominate festive buying this year. With an estimated five lakh jewellers operating across India, if each sells an average of 50 grams of gold, total gold sales could reach nearly 25 tonnes, worth around Rs 32,500 crore. Silver sales of approximately 1,000 tonnes could add another Rs 18,000 crore, pushing total trade over Rs 50,000 crore.
Traders are also adapting to shifting consumer preferences by offering designer lightweight ornaments and silver coins. Arora noted, “Jewellers are focusing on products that align with evolving trends, ensuring festive demand is met while catering to investment-minded buyers.”
With consumer sentiment high and markets bustling, this Dhanteras is shaping up to be one of the most significant festive trading periods in recent years. |
