This Diwali season, markets across India — including Delhi — are witnessing tremendous enthusiasm, with a steady stream of customers thronging marketplaces every day. After a long time, both traders and consumers are visibly joyful and optimistic. Tomorrow marks the auspicious festival of Dhanteras, a day traditionally associated with buying gold, silver, utensils, and household items.

According to estimates by the Confederation of All India Traders (CAIT) and its jewellery wing, the All India Jewellers and Goldsmith Federation (AIJGF), total gold and silver trade on Dhanteras is expected to exceed ₹50,000 crore nationwide.

As per a joint survey conducted by CAIT and AIJGF across major bullion markets, this year’s Dhanteras is witnessing a surge in demand for gold and silver coins, while sales of gold jewellery are likely to see a marginal decline.

CAIT Secretary General and Member of Parliament from Chandni Chowk, Mr. Praveen Khandelwal, and AIJGF’s National President, Mr. Pankaj Arora, stated that due to record-high prices of gold and silver, middle- and upper-class buyers are increasingly viewing solid coins as a preferred investment option, while the inclination toward heavy jewellery has reduced. Wedding-season customers are also showing greater preference for lightweight ornaments.

They noted that during last year’s Diwali, gold was priced at around ₹80,000 per 10 grams, whereas this year it has crossed ₹1,30,000 per 10 grams — a rise of nearly 60%. Similarly, silver prices, which were ₹98,000 per kilogram in 2024, have now surged beyond ₹1,80,000 per kilogram, marking a 55% increase. These steep price hikes have attracted a large number of investors to bullion markets.

According to Mr. Khandelwal, bullion and coin purchases are expected to dominate festive buying between Dhanteras and Diwali.

Mr. Arora further informed that approximately 5 lakh jewellers operate across India. Even if each jeweller sells an average of 50 grams of gold, total sales would reach around 25 tonnes, valued at approximately ₹32,500 crore at current prices. Similarly, if each jeweller sells 2 kilograms of silver, the total would amount to 1,000 tonnes, worth around ₹18,000 crore.

Thus, the total nationwide trade in gold and silver during this festive period is projected to exceed ₹50,000 crore.

Mr. Khandelwal and Mr. Arora added that, in response to changing market trends, jewellers are now focusing on fancy jewellery designs and silver coins to better align with evolving consumer preferences and sustain market momentum.