Dhanteras 2026: Jewellers Expect 20-30% Rise In Gold, Silver Sales As Prices Fall Sharply From January Peaks

New Delhi, Nov 5: Jewellers expect a 20-30 per cent rise in gold and silver sales in value terms on Dhanteras on Friday, despite a sharp correction in prices from their January highs.

In volume terms, however, gold sales are likely to remain flat year-on-year, with consumers favouring lightweight jewellery and small-ticket purchases.

Dhanteras is considered the most auspicious day in the Hindu calendar to buy precious metals.

"In value terms, sales are likely to grow by 20-30 per cent," All India Gem and Jewellery Domestic Council (GJC) Chairman Rajesh Rokde told PTI. "We are expecting flat growth in terms of volume compared to last year."

Rokde said the festival's timing could also help. Dhanteras at the start of the month, on November 6 this year, consumers will have salaries in hand. Still, high inflation driven by geopolitical tensions and drought-like conditions in Maharashtra could weigh on sentiment.

PRICES OFF PEAK, BUT ABOVE LAST YEAR

Gold in the national capital fell 19 per cent to Rs 1,48,800 per 10 gram (24-carat, inclusive of taxes) on Thursday, from the record Rs 1,83,000 on January 29, 2026. Prices remain well above the Rs 1,32,400 seen on last year's Dhanteras on October 18.

Silver has corrected 52 per cent to Rs 1,94,500 per kg from its January 29 peak of Rs 4,04,500, but is still higher than the Rs 1,70,000 per kg on Dhanteras 2025.

SILVER DRAWS YOUNGER BUYERS

Rokde said silver continues to attract younger consumers for its affordability and wider range of designs. He expects silver volumes to be flat, with value sales up about 30 per cent.

GJC Vice Chairman Avinash Gupta was more optimistic on silver, saying the industry expects a 10 per cent year-on-year volume increase after a near-50 per cent price correction.

He said consumers are buying both metals for weddings and investment, picking gold for the main ceremony and silver jewellery and articles for other rituals.

Gupta expects value growth of 15-20 per cent in gold, with volumes at last year's level.

"The market had witnessed a slowdown over the past six months amid rising gold and silver prices, coupled with the Prime Minister's appeal to citizens to refrain from purchasing gold," he said.

Lightweight jewellery is gaining traction, and even wedding jewellery is shifting towards 18-karat gold, he added.

WEDDINGS MAY PULL PURCHASES FORWARD

World Gold Council Regional CEO (India) Sachin Jain said the correction has stimulated demand for jewellery. Families with weddings in the next three to six months may advance purchases at current price levels, he said, and demand should be strong across categories, from premium jewellery to coins and bars.

RETAILERS UPBEAT, WITH CAVEATS

Senco Gold MD and CEO Suvankar Sen said the company is targeting growth of over 20 per cent this festive season. He said buyers are being more experimental with designs and caratages while prioritising quality, value and versatility. Diamonds are growing 25-30 per cent, he added.

Kama Jewelry founder and MD Colin Shah struck a more cautious note. He said demand has moved to lightweight studded jewellery in the 9K to 19K range, driving interest in both lab-grown and natural diamonds in the Rs 1.5 lakh to Rs 3-lakh-ticket range.

"While value-wise demand may remain similar to last year, we may see a slight decline in volume-wise sales of about 10 per cent," he said, citing the rupee-dollar rate's impact on domestic gold prices.

Retailers are also rolling out offers and schemes to draw shoppers.

India is the world's second-largest gold consumer and one of the largest importers globally, after China.

(Except for the headline, this article has not been edited by FPJ's editorial team and auto-generated from an agency feed.)