Dhanteras Sales Touch ₹1 Lakh Crore as Indians Splurge on Gold, Silver Despite Record Prices

New Delhi, October 18, 2025: Indian consumers spent an estimated ₹1 lakh crore during this year’s Dhanteras festival, marking one of the highest festive spending sprees in recent years. According to the Confederation of All India Traders (CAIT), the surge was driven largely by strong demand for gold and silver, even as prices hit historic highs.

CAIT reported that bullion sales alone contributed ₹60,000 crore to the total, showing a 25% increase compared to last year. Gold prices soared nearly 60% year-on-year to cross ₹1,30,000 per 10 grams, yet jewellery markets across India witnessed an unprecedented rush.

“The past two days have seen record footfalls in jewellery markets,” said Pankaj Arora, National President of the All India Jewellers and Goldsmith Federation. “In Delhi alone, gold and silver sales crossed ₹10,000 crore,” he added.

Silver also saw strong demand despite a sharp 55% price rise to around ₹1,80,000 per kilogram from ₹98,000 last year. CAIT noted that Indian consumers continued to see precious metals as reliable long-term investments, especially during auspicious occasions like Dhanteras.

Beyond gold and silver, the festive period boosted sales across multiple sectors — utensils and kitchenware contributed ₹15,000 crore, electronics and electrical goods ₹10,000 crore, and decorative and religious items ₹3,000 crore.

CAIT Secretary General and Member of Parliament Praveen Khandelwal attributed the surge in spending to lower GST rates and Prime Minister Narendra Modi’s “Vocal for Local” campaign, which has encouraged consumers to prioritise Indian-made products.

“People are increasingly preferring locally manufactured goods, which is giving a major boost to small traders, artisans, and domestic producers,” Khandelwal said.

Traditional marketplaces, local bazaars, and jewellery shops witnessed record-breaking customer turnout, matching the sales seen in major malls and e-commerce platforms. The strong retail momentum reflects growing consumer confidence and festive optimism across the country.