New Delhi: Dhanteras celebrations triggered a massive buying rush across India’s jewellery markets, with gold and silver sales exceeding ₹66,000 crore in recent days, according to the All India Jewellers and Goldsmith Federation.
Gold sales alone were estimated at nearly ₹60,000 crore, marking a 15–20 per cent increase in value compared with last year, according to a PTI report.
Delhi’s bullion markets recorded transactions exceeding ₹10,000 crore.
Gold Prices Fall
A sharp correction in precious metal prices encouraged customers to return to jewellery stores.
Gold prices have declined nearly 20 per cent from their January 29 peak of ₹1,83,000 per 10 grams.
On Friday, 24-carat gold traded at ₹1,46,300 per 10 grams in Delhi, including taxes, compared with ₹1,32,400 during last year’s Dhanteras.
Silver witnessed an even sharper correction, falling 52.4 per cent from its record ₹4,04,500 per kilogram to ₹1,92,500.
Sales Volume
All India Gem and Jewellery Domestic Council chairman Rajesh Rokde said gold sales volumes were expected to remain largely unchanged despite higher transaction values.
However, silver sales were projected to increase 30 per cent in value and 10 per cent in volume.
Strong advance bookings and increased customer footfall supported festive purchases.
Smaller Cities Shine
Jewellery demand remained robust across Jaipur, Dehradun, Surat, Belgaum, Ara and Raipur.
Customers preferred lightweight jewellery, pendants, bangles, chains and smaller gold and silver coins.
Kalyan Jewellers executive director Ramesh Kalyanaraman said softer gold prices encouraged festive purchases.
Wedding-related demand also contributed to higher sales.
Jewellers Report Growth
Senco Gold reported sales value growth exceeding 25 per cent.
PNG Jewellers indicated industry-wide sales value could increase 25–30 per cent.
PC Jewellers reported volume growth of 30–35 per cent and sales value growth of 45–50 per cent.
Investment Demand
World Gold Council India CEO Sachin Jain highlighted demand across jewellery, coins, bars, gold ETFs and digital gold.
MMTC-PAMP managing director Samit Guha said customers increasingly preferred smaller coins and bars over large purchases.
Jewellers also reported growing demand for exchanging old gold for new ornaments.
