Dhanteras Gold Sales Touch Estimated ₹60,000 Crore Across India As Higher Prices Boost Jewellery Market Value
Mumbai: The country's gold business on Dhanteras is estimated to have touched approximately Rs60,000 crore, registering a growth of 15-20% in value terms compared to last year, according to a preliminary assessment by the All India Gem and Jewellery Domestic Council (GJC). While the overall volume of gold sold is expected to remain almost at the same level as last year, the rise in prices has…
Dhanteras, a significant Hindu festival celebrated on November 6, saw gold sales in India reach an estimated ₹60,000 crore, marking a 15-20% increase in value compared to the previous year according to the All India Gem and Jewellery Domestic Council (GJC). Despite the volume of gold sold remaining relatively stable, the rise in gold prices has significantly boosted the overall transaction value, signaling a robust start to the festive season for the jewellery industry.
Retailers opened early, with some stores starting operations as early as 8 am, driven by the religious and cultural significance of Dhanteras, a day linked to prosperity and the tradition of purchasing gold. Factors such as festive bonuses, salary payments, and relatively lower gold prices over recent months have contributed to the positive response from consumers.
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