Gold Price Dip Brings Buyers Back to Jewellery Stores on Dhanteras
What Happened
Jewellers across India reported strong customer footfall and brisk gold and silver sales on Dhanteras, November 6, as a recent correction in gold prices encouraged consumers to make festive purchases. Gold sales by value are estimated to rise 15–20% to around ₹60,000 crore, according to the All India Gem and Jewellery Domestic Council (GJC). However, sales volumes are expected to remain broadly flat compared with last year, as gold prices are still higher than they were during the previous Dhanteras. Buyers are increasingly choosing lightweight jewellery, smaller coins and 18-carat designs, while wedding purchases and old-gold exchanges are supporting demand.
Key Takeaways
Lower gold prices have improved buying sentiment and brought more customers into jewellery stores, but high overall prices are limiting growth in the quantity of gold purchased. The trend points to higher spending in rupee terms without a significant increase in actual sales volumes, with lightweight jewellery, wedding demand and old-gold exchanges playing an important role.