Dhanteras Diwali  2026 opened on a confident note for India’s jewellery industry. On Dhanteras Retailers and industry bodies reported higher footfalls, double-digit value growth and a visible shift in what customers are buying. Volumes, however, are largely flat, and the growth is being carried by price.

The recent decline in prices of gold  has encouraged consumers to seize the opportunity to buy gold ornaments during Dhanteras and Diwali season in India. According to the GJC, gold jewellery sales climbed 15–20% over the two key festive days to reach Rs62,000 crore..Preliminary estimates from the All India Jewellers and Goldsmith Federation (AIJGF) put combined gold and silver festive sales past Rs.66,000 crore.

Market Size and Growth

GJC estimates India’s Dhanteras gold business at roughly Rs.60,000 crore on preliminary assessment. Rajesh Rokde, Chairman, GJC, says value growth is expected at 15–20% over last year, with volumes “almost at the same level. ” He calls it “a very encouraging start for the jewellery industry.”

Prithviraj Kothari, MD, RiddiSiddhi Bullions Ltd. and National President, IBJA, offers a similar read. Jewellers expect sales value to rise 20–30% while gold volumes stay roughly flat, so growth comes mostly from higher prices rather than more grams sold. He notes that sentiment is clearly better than through most of 2026, though people are spending carefully. The correction has brought buyers back, and many who postponed purchases while prices were climbing are now completing them.

Retailers are reporting stronger numbers. Suvankar Sen, MD & CEO, Senco Gold Ltd, reports sales value up over 25% year on year, with higher store footfalls. Dr. Saurabh Gadgil, CMD, PNG Jewellers, says industry indications point to 25–30% incremental performance. He attributes this to easing prices, strong pre-Dhanteras bookings and a long Diwali weekend.

Jignesh Mehta, Founder & MD, Divine Solitaires, reports 30% growth in festive sales. Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers, said footfall picked up, with shoppers favouring lighter pendants, bangles and chains, as well as smaller gold and silver coins.

Sandeep Kohli, CEO, Indriya-Aditya Birla Group Jewellery stated that in line with expectations, they experienced a strong surge in footfall and sales across our retail network. All 100 stores nationwide maintained this positive momentum.

Varghese Alukka, Managing Director, Jos Alukkas, reports that festive sales improved on last year through a wider customer base, although average bill values dipped slightly. Harshal Khandelwal- Director- Khandelwal Jewellers Akola Pvt Ltd says that with their  exclusive Book & Relax  offer, patrons securing their favorite gold jewelry and coins ahead of time, entirely free from the anxiety of fluctuating rates.

What Customers Are Buying

Gold: Sachin Jain, Regional CEO India, World Gold Council, notes strong walk-ins across retail markets. Buyers are choosing jewellery, coins, bars, ETFs and digital gold. He says the recent price moderation has given buyers relief.

Ramesh Kalyanaraman, , said hoppers favored  lighter pendants, bangles and chains, as well as smaller gold and silver coins.

Ashish Pethe, Partner, Waman Hari Pethe Jewellers, reports tremendous enthusiasm for gold jewellery despite price fluctuations, with the trust and emotional connect people share with gold remaining strong. Interest spans both traditional and contemporary lightweight designs. Kohli says Indriya’s stores continued to sell high-quality designs.

Diamonds: Senco Gold’s Suvankar Sen says diamond jewellery sales “have grown impressively.” Divine Solitaires’ Mehta points to rising interest in natural diamond solitaires for gifting, milestones and self-purchase, led by smaller solitaires and lightweight pieces.

Silver and multi-metal: Ansh Anand, CEO, Punjab Jewels, reports strong interest across gold, diamond, platinum and silver. PNG’s Gadgil adds that silver jewellery and articles are in high demand, a pattern echoed by Kalyan’s observation that smaller silver coins are selling.

• Men’s jewellery: Sen flags growing interest, with Senco’s Aham line catering to men who see jewellery as personal style.

Key Trends

1. Lighter, everyday designs are gaining. Sen sees growing interest in lighter, more versatile designs alongside traditional gold and coins. Kalyan Jewellers’ Kalyanaraman reports the same, with pendants, bangles and chains in favour. Jayantilal Challani, Chairman, Challani Group of Companies, observes a visible shift from heavy traditional jewellery to everyday elegance.
2. Asavari Pednekar, MD, Jagannath Gangaram Pednekar (JGP) Jewellers, says the desire to buy gold remains strong, but decisions are increasingly shaped by price movements and affordability. Consumers are adapting budgets and evaluating purchases carefully, with value, design, craftsmanship and sentiment guiding buying. Joyalukkas’ slightly lower average bill value reflects the same trade-down.

• Value-conscious, disciplined buying. Challani describes buyer mood as “calculated optimism and value-driven purchasing,” with high gold rates prompting disciplined shopping. Punjab Jewels’ Anand says customers are prioritising design, craftsmanship and quality alongside investment value, and festive enthusiasm has held despite elevated metal prices. The preference for smaller coins at Kalyan points the same way.

• Trust and transparency matter more. Divine Solitaires’ Mehta says consumers place greater emphasis on transparency, authenticity and quality assurance. He cites the company’s 123-parameter Quality Guarantee and standardised pricing as the response.

• Old gold exchange is a growth lever. PNG’s Gadgil says exchange is playing a big role, including in tier 2 and tier 3 cities.

• Weddings and savings-led purchases. Sen reports strong participation from wedding customers and from families buying jewellery as savings.

Outlook

Sentiment is positive heading into Diwali and the wedding season. The WGC’s Jain says the day’s response “offers an encouraging outlook for the year end.” Gadgil notes that sales usually pick up in the second half of Dhanteras, so early figures may understate the final tally. Challani adds that grassroots spirit remains intact, which gives hope to jewellers who sell big and heavy pieces.

Bottom line

Dhanteras 2026 is a value-led recovery. Price easing, wedding demand, diamond and silver momentum and strong festive bookings are driving growth, while volumes hold steady. Retailers who combine lighter designs, smaller-ticket gold and silver coins, transparent pricing and exchange offers are best placed to gain.