This year’s Dhanteras celebration turned into a national spending spree, with Indian consumers splurging a record Rs 1 lakh crore, according to the Confederation
of All India Traders (CAIT). Despite soaring gold and silver prices, shoppers thronged jewellery stores, bullion markets, and electronics outlets across the country. “The past two days have seen an unprecedented rush in jewellery markets,” said Pankaj Arora, national president of All India Jewellers and Goldsmith Federation. CAIT reports that gold and silver alone accounted for Rs 60,000 crore of the total spend, a 25 per cent jump over last year, proving that festive sentiment continues to overpower price pressures. Precious Metals in High Demand Despite Price Surge Gold touched new highs at Rs 1,30,000 per 10 grams, yet buyers flocked to invest in jewellery and coins. In Delhi alone, gold and silver sales crossed Rs 10,000 crore, Arora confirmed. Silver, however, became the surprise star of the season. With prices climbing to Rs 1,80,000 per kilogram (up from Rs 98,000 last year), it still saw robust demand, driven largely by buyers in Tier 2 and Tier 3 cities. “Demand of silver coins increased sharply, recording a 35–40 per cent surge this year as compared to the last,” reported an industry body to PTI. Gold Volume Falls, Value Still Rises High prices did impact gold volumes, with a 10–15 per cent dip compared to last year. However, transaction values rose sharply due to bigger ticket purchases. “Dhanteras 2025 has seen a 10-15 per cent dip in overall volume compared to last year, but value is up sharply... we expect festive sales to cross Rs 50,000 crore,” said Rajesh Rokde, Chairman, All India Gem and Jewellery Domestic Council (GJC). A minor overnight correction in gold prices, from Rs 1,34,000 to Rs 1,32,000 in Delhi and from Rs 1,30,000 to Rs 1,28,000 in Mumbai, further encouraged buyers to seize the opportunity for investment and gifting. “Average transaction value rose 20-25 per cent despite volume dips from high prices. Most encouraging is the 35-40 per cent surge in silver coin sales, especially in Tier 2 and Tier 3 cities,” said GJC Vice Chairman Avinash Gupta. More Than Just Metals: Utensils, Electronics, and Decor See Boom While gold and silver dominated, utensils saw Rs 15,000 crore in sales, with electronics and electrical goods adding another Rs 10,000 crore. Decorative and religious items brought in Rs 3,000 crore, showing that the festive fervour extended well beyond jewellery counters.
