Gold and silver purchases witnessed strong demand on Dhanteras 2026, with gold sales by value estimated to have increased 15-20% year-on-year to around ₹60,000 crore, according to preliminary estimates by the All India Gem and Jewellery Domestic Council (GJC). As per CNBC TV18, silver sales are expected to increase 30% in value and 10% in volume, with the GJC projecting total gold business across India to be approximately ₹60,000 crore on the occasion of Dhanteras. The strong performance was driven by higher showroom footfalls and advance bookings as a recent correction in precious metal prices encouraged consumers to make festive purchases. Lightweight jewellery, smaller coins and lower-carat designs were the preferred choices among buyers, reflecting a shift towards more affordable purchases amid elevated gold prices.
Recent corrections in gold prices provided significant support to festive purchases, with 24-carat gold priced at ₹1.46 lakh per 10 grams on Friday, compared with ₹1.83 lakh per 10 grams on January 29. However, prices remained above the ₹1.32 lakh per 10 grams recorded on Dhanteras last year. Silver was quoted at ₹1.92 lakh per kg, down from its January 29 peak of ₹4.04 lakh per kg, but higher than the ₹1.70 lakh per kg recorded on Dhanteras last year. According to CNBC TV18, the preference for affordable purchases was reflected in the demand for lower-carat and lightweight jewellery, with 18-carat jewellery accounting for around half of sales and buyers opting for 14-carat and 9-carat designs depending on their spending capacity. Gold coins weighing between 1 and 5 grams also attracted steady interest, with consumers using old-gold exchanges to fund fresh purchases.
Showroom footfalls were higher than last year, with advance bookings supporting demand, particularly in western and northern markets, as reported by CNBC TV18. Tier II and Tier III cities including Jaipur, Dehradun, Surat, Belgaum, Ara and Raipur were seeing increased traction, including among first-time jewellery buyers. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, said early industry indications pointed to 25-30% incremental growth over last year, supported by lower prices, advance bookings and the extended Diwali weekend. Eshwar Surana, Managing Director of Raj Diamonds, reported around 20% growth in demand during the festive season, with some consumers exploring natural diamond jewellery for festive purchases and lightweight designs with coloured gemstones paired with diamonds.
The Dhanteras shopping spree is expected to cross ₹1 lakh crore nationwide on Friday, with gold and silver purchases alone projected to cross ₹60,000 crore, according to the Confederation of All India Traders (CAIT). The automobile sector has added significant momentum to this figure, with passenger vehicle makers collectively targeting nearly 58,000 Dhanteras deliveries, generating more than ₹10,000 crore in revenue from Dhanteras-day deliveries alone. As per industry executives, the north recorded particularly strong demand, while sales in southern markets remained steady, with the average selling price of a passenger vehicle estimated at around ₹10-12 lakh. Despite precious metal prices remaining significantly higher than last year, business activity is seeing strong demand across multiple categories, with the change in buying preferences particularly visible in the gold jewellery segment.
The festive period includes key dates from November 6 to November 24, with major festivals including Dhanteras (November 6), Chhoti Diwali (November 7), Diwali (November 8), Govardhan Puja (November 9), Bhai Dooj (November 10), Tulsi Vivah (November 21), and Guru Nanak Jayanti (November 24). According to CAIT, demand is being seen across a range of categories, from electronics and fashion to decorations and household goods. The AIJGF reports that silver is finding buyers in the form of coins and decorative products, while traditional auspicious items, including figurines of fish, tortoise and elephants, have also seen increased demand. Diamond jewellery and investment products also saw demand, with retail walk-ins strong with purchases spanning jewellery, coins, bars, exchange-traded funds (ETFs) and digital gold. The trend of Prime Minister Narendra Modi's appeal to purchase Indian-made products is influencing shopping choices, with more customers prioritising indigenous goods.
For Delhi's trading community, the coming weeks are expected to be important in determining how much of the recent slowdown can be offset by festive demand. The rise in festive sales has implications beyond retail sales alone, supporting a wider network including manufacturers, wholesalers, logistics firms, artisans, small entrepreneurs and street vendors. The period also brings activity for millions of daily-wage workers, with higher demand leading to increased production and movement of goods while supporting employment and government revenue. According to CNBC TV18, the All India Jewellers and Goldsmith Federation reported gold and silver sales had crossed ₹66,000 crore nationwide over the preceding several days, with Delhi's bullion markets recording business of more than ₹10,000 crore. Traders across the country are preparing for the festive and wedding seasons with renewed confidence after a period marked by disruptions and business losses.
