Despite Record Prices, India's Love for Gold & Silver Sparkles on Dhanteras 2025

The auspicious day of Dhanteras once again brought festive energy to India's bullion and jewellery markets. Despite soaring metal prices, shoppers across the country demonstrated that tradition remains resilient, pushing combined gold and silver sales to an impressive ₹60,000 crore, a 25% increase from last year's ₹48,000 crore, according to the Confederation of All India Traders (CAIT).

Yet beneath the glittering surface lies a fascinating story of adaptation. This Dhanteras revealed how Indian consumers are balancing cultural sentiment with economic pragmatism, choosing lighter gold while embracing silver like never before.

Gold: Strong in Value, Light in Weight

The All India Gem & Jewellery Domestic Council (GJC) confirmed what many jewellers observed firsthand: gold jewellery volumes declined by 10–15% compared to Dhanteras 2024. Rising global gold prices made buyers more selective, but the festive spirit remained undiminished.

Instead of traditional heavy ornaments, consumers gravitated toward lightweight designs, gold coins, small bars, and digital gold platforms. "People still wanted the auspiciousness of gold on Dhanteras, but they bought smarter," shared a Mumbai-based jeweller. "We saw more transactions, just smaller ticket sizes per purchase."

While gold sales by weight dropped, the overall value of gold purchases climbed to ₹47,000 crore, up 17% from ₹40,000 crore last year. This paradox reflects a simple reality: fewer grams sold at significantly higher prices still generated strong revenue for jewellers.

Silver Steals the Spotlight

If gold was the steady performer, silver emerged as the breakout star of Dhanteras 2025. Sales of silver coins, bars, and utensils surged by an impressive 35–40%, with total silver sales reaching ₹13,000 crore compared to an estimated ₹8,000 crore last year, a remarkable 62.5% jump in value.

Silver's relative affordability made it the ideal choice for middle-class families and younger buyers who wanted to uphold festive traditions without straining their budgets. The shift was particularly pronounced in Tier-2 and Tier-3 cities like Surat, Jaipur, and Lucknow, where jewellers reported record footfall for silver gifting items and ceremonial utensils.

"This is the first time we've seen silver outpace gold in terms of customer interest," noted a Surat-based bullion dealer. "Families are buying silver coins for every member, and decorative pieces for their homes."

How Different Cities Celebrated

The festive shopping patterns varied across regions, reflecting local preferences and purchasing power. Metropolitan hubs like Delhi and Mumbai saw strong demand for gold coins and lightweight jewellery, supported by robust online pre-orders and digital gold platforms attracting tech-savvy buyers.

In western markets such as Ahmedabad and Surat, silver coins and pooja items dominated sales, with many families purchasing silver utensils for religious ceremonies. Southern cities like Hyderabad and Chennai witnessed continued popularity of lightweight gold bangles, while younger consumers showed growing interest in digital gold investments.

Perhaps most tellingly, Tier-3 towns drove bulk sales through silver bars, decorative utensils, and ceremonial pieces, reflecting silver's growing role as an accessible wealth preservation tool in smaller markets.

The Deeper Story

The Dhanteras 2025 numbers reveal something beyond mere sales figures. They show how Indian consumers navigate economic pressures without abandoning cultural values. When gold becomes expensive, they don't stop celebrating—they adapt.

The 25% surge in overall sales value is driven less by increased consumption and more by price appreciation and evolving purchase behavior. Indians continue to view precious metals not merely as commodities, but as tangible symbols of prosperity, security, and generational wealth.

Silver's dramatic rise signals an important shift. As more families discover its affordability and cultural significance, silver is shedding its "second-choice" image and establishing itself as a legitimate festive investment—especially among younger buyers and middle-income households.

Average transaction values rose 20-25% even as volumes dipped, indicating that consumers bought smarter but maintained their spending commitment to the festival. The preference for lighter gold, the embrace of digital platforms, and silver's newfound prominence all point toward a more flexible, value-conscious consumer base that nonetheless refuses to compromise on tradition.

Looking Ahead

As metal prices remain elevated globally, the trends observed this Dhanteras may well define future festive seasons. Dhanteras 2025 proved once again that India's relationship with gold and silver runs deeper than economics. It's woven into the fabric of faith, family, and celebration—adaptable enough to weather any price storm, yet unchanging in its cultural essence.

Market data compiled from CAIT, All India Gem & Jewellery Domestic Council (GJC), and verified media sources including Business Standard, The Tribune, Business Today, and IANS News.