Indian Gold and Silver Sales Climb on Dhanteras as Buyers Favour Lighter Pieces

what happened

Demand for gold and silver in India jumped during Dhanteras, which fell on Friday, November 6, TradingView reports. Jewellers recorded more showroom visitors and a rise in pre-orders, helped by a recent drop in precious metal prices that nudged shoppers to buy for the festival.

The All India Gem and Jewellery Domestic Council (GJC) estimates gold sales by value rose 15-20% year on year to roughly ₹60,000 crore, though volumes are likely flat because prices remain above last year's levels. It expects silver sales to climb 30% in value and 10% in volume.

Buyers leaned toward lighter jewellery, small coins and lower-carat pieces, a sign they are looking for cheaper entry points at elevated prices. Some customers also traded in old gold to finance new purchases.

why it matters

For markets, the report points to firm physical demand in India, one of the world's largest gold consumers, even though prices are well above a year ago. The shift toward smaller, lighter items shows retail demand is sensitive to price, which matters when judging jewellery demand trends.

market impact

Gold and silver: strong Indian festive buying supports physical metal demand.

• ▲Gold pressure up — strong festive buying in India supports physical demand for the metal
• ▲Silver pressure up — higher silver sales in value and volume support demand for the metal

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