Dhanteras 2026 Shopping Boom In Madhya Pradesh! ₹4,500 Crore Business Recorded; Bhopal Clocks ₹1,000 Crore As Gold And Silver Prices Fall

Bhopal, Madhya Pradesh witnessed a significant shopping boom on Dhanteras, with the city recording a business worth Rs 1,000 crore. This figure represents a 20% increase compared to the previous year's sales. The surge in consumer spending was attributed to a drop in gold and silver prices, prompting many to take advantage of the deals.

The sharp decline in silver prices, following a historic surge, was the primary reason behind the purchasing spree. By November 6, the price of silver dropped to around Rs 1.87 lakh per kilogram, which is approximately 51.4% lower than its peak price of Rs 3.84 lakh per kilogram recorded on January 29, 2026.

Dharmendra Sharma, the district president of the Confederation of All India Traders (CAIT), commented on the shopping boom, stating that numerous people made purchases on Dhanteras, which helped boost local trade and the overall economy. However, jewellers who had stocked silver faced losses due to the substantial price drop.

Vinit Simhal, general secretary of the jewellers' association, explained that jewellers typically do not stock gold and silver. Therefore, the drop in silver prices had little impact on them. Ajay Devnani, general secretary of the Bhopal Chamber of Commerce and Industries (BCCI), attributed the 20% increase in business to the drop in gold and silver prices, as well as the surge in purchases for Dhanteras, Diwali, winter, and weddings.