Gold, silver trade may exceed ₹50,000 crore this Dhanteras: CAIT
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Demand for gold coins is high, while consumers are preferring lightweight jewellery too.
Gold, silver trade may exceed ₹50,000 crore this Dhanteras: CAIT
The gold and silver trade during Dhanteras is expected to surpass ₹50,000 crore, driven by high demand for coins and lightweight jewellery despite soaring prices. The festive spirit remains undeterred, with markets bustling with enthusiastic buyers, as per a survey by CAIT and AIJGF.
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Gold prices have witnessed almost a 60% hike since Diwali last year.
Demand for gold coins is high, while consumers are preferring lightweight jewellery too.
Gold and silver trade on the occasion of Dhanteras tomorrow is likely to exceed ₹50,000 crore nationwide as per a joint survey by Confederation of All India Traders (CAIT) and its jewellery wing, the All India Jewellers and Goldsmith Federation (AIJGF).
The traders’ body stated that the rising gold and silver prices have failed to dampen the festive spirit, as demand for coins remains high, while a shift towards lightweight jewellery is also visible.
“In the Diwali season, markets across India, including Delhi, are witnessing tremendous enthusiasm, with a steady stream of customers thronging marketplaces every day. After a long time, both traders and consumers are visibly joyful and optimistic. Tomorrow marks the auspicious festival of Dhanteras, a day traditionally associated with buying gold, silver, utensils, and household items,” said CAIT.
CAIT Secretary General and Member of Parliament from Chandni Chowk, Praveen Khandelwal, and AIJGF’s National President, Pankaj Arora, said due to record-high prices of gold and silver, middle- and upper-class buyers are increasingly viewing solid coins as a preferred investment option, while the inclination toward heavy jewellery has reduced. “Wedding-season customers are also showing greater preference for lightweight ornaments,” Khandelwal said.
“During last year’s Diwali, gold was priced at around ₹80,000 per 10 grams, whereas this year it has crossed ₹1,30,000 per 10 grams—a rise of nearly 60%. Similarly, silver prices, which were ₹98,000 per kilogram in 2024, have now surged beyond ₹1,80,000 per kilogram, marking a 55% increase. These steep price hikes have attracted a large number of investors to bullion markets,” Khandelwal said.
Khandelwal points out that bullion and coin purchases are expected to dominate festive buying between Dhanteras and Diwali.
“Approximately five lakh jewellers operate across India. Even if each jeweller sells an average of 50 grams of gold, total sales would reach around 25 tonnes, valued at approximately ₹32,500 crore at current prices. Similarly, if each jeweller sells 2 kilograms of silver, the total would amount to 1,000 tonnes, worth around ₹18,000 crore,” Arora said.
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“Thus, the total nationwide trade in gold and silver during this festive period is projected to exceed ₹50,000 crore,” he added.