Demand was robust across the entire gold spectrum, including jewellery, coins, bars, ETFs, and digital gold, reinforcing the traditional belief in gold as a symbol of prosperity. Key consumer trends highlighted a strategic shift: while some purchase volumes were slightly lower due to high prices, customers prioritized lighter-weight, design-rich ornaments, customized pieces, and classic temple jewellery, especially among first-time buyers, who accounted for up to 40% of certain retailers’ sales. Investment categories, particularly gold and silver coins and bars, saw exceptional demand and validated gold’s role as a symbol of savings. Furthermore, there was a strong surge in silver sales and renewed interest in diamond sets.

Retailers responded to market dynamics by offering healthy discounts and embracing digital innovation, making products more accessible via online marketplaces and encouraging in-store assurance alongside digital browsing. Overall, the industry anticipates this strong buying interest to continue throughout the remaining festive season and into the upcoming wedding period.

Leading players from the GJ  industry provided their views and reported from ground zero on consumer sentiments and trends

Sachin Jain,MD, World Gold Council

On this Dhanteras, industry is seeing very strong sentiment for gold across categories – jewellery, coins, bars, ETFs and digital gold.  Customers are doing token purchases and heavy pieces are also being bought. Reinforcing the belief that gold brings good fortune, wealth, and prosperity, and this year has been no different. Due to record number of price increases industry has also passed on some benefits to their consumers by offering healthy discounts. Record business is excepted by most of industry players. Overall, we expect gold buying interest to remain strong through current festive season and upcoming wedding period.

Dr. Saurabh Gadgil,CMD, PNG Jewellers

Dhanteras, one of the 3.5 shubh mahurats of the Hindu calendar, has begun on a very strong note for us. We are witnessing a steady stream of buyers through the day, with robust demand across bullion, gold, diamond and silver jewellery, as well as silver articles. Bullion, including gold and silver coins and bars, is performing exceptionally well, while pre-bookings for wedding jewellery have also been very encouraging. Festive consumption has 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. Overall, we expect a buoyant Dhanteras, with growth of around 15–20% in value terms over last year.

 

PAUL ALUKKAS,MD, Jos Alukkas Group 

As the country celebrates Dhanteras today, there has been an observable trend within purchase volumes. Though purchase volumes across were somewhat lower, consumer preference inclined towards investment and style purchases specifically within diamond jewellery and light weight gold items. Gold coins also witnessed an increased sale volume, validating it as a symbol of savings and investments.

Rajesh Kalyanaraman,Executive Director, Kalyan Jewellers

Our festive pre-book offer has seen encouraging participation – notably, about 40% of the buyers this season are first-time customers –  indicating robust demand and renewed enthusiasm among shoppers.

In terms of trends, gold and silver coins continue to see exceptional demand, often exceeding supply in some locations. To make coins more accessible, Kalyan Jewellers’ gold and silver coins are available on leading online marketplaces and on quick commerce platforms like Instamart.

Diamond sets are seeing renewed interest, reflecting a broadening aspiration among consumers. Bangles and chains, especially those with interesting designs in the plain gold category, continue to be in demand. Diamond sets are seeing renewed interest, reflecting a broadening aspiration among consumers. Bangles and chains, especially those with interesting designs in the plain gold category, continue to be in demand.

Ba.  Ramesh,Joint MD -Thangamayil Jewellery

This Dhanteras, we are seeing a strong and confident buying sentiment among customers. Lightweight daily-wear gold, classic temple jewellery and customised pieces are driving interest, especially among young buyers making their first investment in gold. There is also a growing shift towards transparency and convenience, with digital browsing and in-store assurance going hand in hand. This festive day continues to reflect how trust, aspiration and long-term value guide purchase decisions.

 Jayantilal Challani,Chairman, Challani Group of Companies

This year, Dhanteras is celebrated for two days, i.e, on 18th & 19th Oct 2025. The Gold Sale on the first day was 5 -10 percent lower in volumes, however its lustrous cousin,  Silver saw a big jump of 15 to 25 percent in sales. With a day left, the Industry rest in hopes that it will catch up with last year’s sales volumes.  With price of Gold skyrocketing,, we find the customers gathering in large numbers  but being conscious about the grammage. Consumers have developed a liking to buy design-rich ornaments and lightweight buying with smaller items like gold coins.

Amit Bandi,CEO, Kumari Fine Jewellery

This Dhanteras marks a truly momentous occasion for Kumari Fine Jewellery, our first Diwali with new store launches. We’ve seen an overwhelming response, particularly from our recently opened Indore store, where customers eagerly pre-booked their jewellery. Deliveries have been ongoing since morning, honouring past gold prices.

While gold prices have soared, our dainty and stylish designs have captivated customers, proving that design premium currently triumphs over price sensitivity. Indore, with its strong tradition of celebrating Pushya Nakshatra and Dhanteras, has been exceptional, and our Mumbai stores are also performing promisingly with a focus on Dhanteras deliveries. We’re observing a sentiment where customers are planning multiple purchases for Diwali celebrations, seeking diverse jewellery to complement their attire for various events over 5-7 days. This makes Diwali the perfect occasion for Kumari’s patrons.