On this Dhanteras festival, business worth over ₹1 lakh crore is estimated across the country. Gold and silver sales could exceed ₹60,000 crore. Demand for lightweight jewelry and silver has increased amid rising prices.
Business worth Rs 1 lakh crore is expected on Dhanteras.
Markets across the country are bustling with activity on the occasion of Dhanteras. From buying gold and silver to purchasing home decorations and traditional items, people are busy preparing for the festival.
Even inflation and the rising prices of precious metals have failed to dampen people's shopping enthusiasm. This Dhanteras, the country is expected to see robust business.
Demand for lightweight jewellery amid high gold prices
Due to the rise in gold prices, consumer preferences are shifting this year. People are choosing lighter jewellery over heavy and expensive jewellery. According to the All India Jewellers and Goldsmiths Federation (AIJGF), demand for lightweight 14- and 18-carat gold jewellery has increased in the market. Lightweight jewellery is becoming an option for consumers who want to purchase gold within their budget for Dhanteras.
Estimated turnover of more than Rs 1 lakh crore
According to the Confederation of All India Traders (CAIT), this Dhanteras, trade across the country is expected to exceed ₹1 lakh crore. Sales of gold and silver are expected to account for a significant portion of this. According to the organization, the combined turnover of both precious metals could exceed ₹60,000 crore. This suggests that despite high prices, people are prioritizing shopping for the festival.
Market enthusiasm despite prices
This year, the market is experiencing positive sentiment regarding Dhanteras shopping. Customers are choosing items based on their needs and budget. Some are purchasing lightweight gold jewelry, while others prefer silver coins and decorative items. Overall, despite the high prices, Dhanteras shopping enthusiasm remains strong, and merchants are expecting good business.
Silver coins and auspicious figures are also in demand.
This year, not only gold jewelry but also silver items are attracting people. Purchases of silver coins, decorative items, and traditional gifts have increased. Furthermore, items with auspicious shapes like fish, turtles, and elephants are also among the consumer favorites. Buying these items on Dhanteras is considered auspicious by many, and they are considered a symbol of happiness and prosperity in the home.
