Despite the sharp rally, the fear-of-missing-out (FOMO) syndrome has been driving buyers to splurge this Dhanteras. | Photo Credit: ANI
Despite the sharp rally, the fear-of-missing-out (FOMO) syndrome has been driving buyers to spend their money this Dhanteras.
Incidentally, after hitting a record high of ₹1,34,800 per 10 grams, gold prices are expected to fall in line with the global market trend late last Friday.
The US gold futures dipped over 2 per cent, to end at $4,213 an ounce on Friday. On the MCX, gold for December delivery also dropped 2 per cent to settle at ₹1,27,320/10 grams.
Gold shines
The yellow metal has delivered a stellar return of 70 per cent this year in the domestic spot market on increased global political and economic uncertainties, strong Central bank buying, the US Fed rate cut hopes, and robust inflows in exchange-traded funds.
Rajesh Rokde, Chairman, GJC, said in the last two days of Dhanteras, 50-60 tonne of jewellery worth ₹85,000 crore were sold. Though sales volume was on a par with last year, it registered a growth of 35–40 per cent in value terms.
The sale of silver nearly doubled compared to last year, as customers showed a clear preference for the white metal this season.
With Dhanteras spanning two days, followed by Diwali and Bhau Beej, the five-day festive window is expected to register sales of 100 to 120 tonne, or worth about ₹1 lakh crore to ₹1.35 lakh crore, he added.
Sachin Jain, MD, World Gold Council India, said the industry has witnessed a strong sentiment for gold across categories, including jewellery, coins, bars, ETFs and digital gold.
Due to record price increases, he said the industry has also passed on some benefits to consumers in the form of healthy discounts.
Buying options
Suvankar Sen, MD & CEO, Senco Gold & Diamonds, said customers prefer 18K, 14K and even 9K jewellery to keep the joy of gifting alive without stretching household budgets, and many are using our digital and EMI options to plan purchases thoughtfully.
“Our old gold exchange scheme and savings-led initiatives are bringing younger family members into the conversation, teenagers and first-time buyers are encouraging parents to think of gold as both love and a long-term asset and has gone up by 25-30 per cent this year,” he said.
Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers, said the demand for gold and silver coins and bars has been good, while festive consumption returned in full swing, aided by the slight dip in gold prices last night.
Silver demand remains particularly strong, and advance bullion bookings over the past two days have ensured smooth fulfilment today, he said.
“Overall, we expect a buoyant Dhanteras, with growth of around 15–20 per cent in value terms over last year,” he added.
Published on October 19, 2025
