Dhanteras is expected to generate business worth more than Rs 1 lakh crore across the country on Friday, with gold and silver sales alone projected to exceed Rs 60,000 crore, the Confederation of All India Traders (CAIT) said.
The trade body said festive buying activity remained strong, with consumers purchasing jewellery, silver coins and traditional gift items despite elevated prices of precious metals.
According to the All India Jewellers and Goldsmith Federation (AIJGF), demand for lightweight jewellery, silver coins and traditional decorative items has increased, indicating that higher prices have not significantly dampened consumer enthusiasm.
Jewellers are witnessing increased demand for lightweight gold jewellery in the 14-carat and 18-carat categories as buyers look for more affordable options amid rising gold prices, the federation said.
Apart from jewellery, silver coins and decorative items are also attracting buyers. Traditional auspicious articles and figurines of fish, tortoises and elephants have also witnessed increased demand, it added.
Dhanteras is considered an auspicious occasion for purchasing gold, silver and other goods, with such purchases forming an integral part of festive traditions across the country.
However, high precious metal prices have influenced consumer preferences this year, shifting demand towards lightweight jewellery and smaller purchases.
Gold prices have moderated marginally over the past week but remain around 20 per cent higher than a year ago. At the time of reporting, 24-carat gold was trading at Rs 1,41,840 per 10 grams.
CAIT said the estimated business of over Rs 1 lakh crore includes overall trading activity during the festival, with gold and silver expected to contribute more than Rs 60,000 crore.
The AIJGF said it would release a detailed assessment by the evening after reviewing sales trends and consumer responses across markets nationwide.
The assessment is expected to provide a clearer picture of actual sales during the day, including transactions involving gold and silver jewellery, coins and other festive products.
(ANI Inputs)
