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Even though the prices of gold and silver have reached record levels, this time on Dhanteras there can be heavy purchasing of these two metals. According to an estimate, there is a possibility of a record purchase of gold and silver in the country. On this day, both can have a business of Rs 50 thousand crores. This estimate has been made by none other than the Confederation of All India Traders (CAT) and its jewelery wing All India Jewelers and Goldsmiths Federation (AIJGF). Buying gold, silver, utensils, kitchen items etc. on the day of Dhanteras is considered auspicious. CAT and AIJGF estimate that on the occasion of Dhanteras, gold and silver worth more than Rs 50 thousand crore can be traded.

How much business can be done in Delhi

According to the Dhanteras survey conducted by CAT and AIJGF in the bullion markets across the country, this year on Dhanteras, there is a huge jump in the sales of gold and silver coins, while some decline in the sales of gold jewelery is expected. It is estimated that trade in gold and silver across the country on Dhanteras will be worth Rs 50 thousand crores. Whereas in Delhi this business has a potential of Rs 8-10 thousand crores. CAT National General Secretary and MP Praveen Khandelwal and AIJGF National President Pankaj Arora said that due to the record high prices of gold and silver, middle and upper class customers are now giving more priority to solid coins as investment. At the same time, there is a decline in the demand for jewellery. Wedding season buyers are also now giving preference to light jewelery instead of heavy jewellery.

Gold and silver prices in Delhi

He said that during Diwali last year, the price of gold was around Rs 80,000 per 10 grams, which this year has crossed Rs 1,30,000 per 10 grams – that is, an increase of about 60 percent has been seen. Similarly, the price of silver was Rs 98,000 per kg in 2024, which has now crossed Rs 1,80,000 per kg, that is, an increase of about 55 percent has been seen. Due to these increased prices, investors have been attracted towards the bullion market in large numbers. According to Khandelwal, bullion and coins are likely to be in highest demand during the festive season from Dhanteras to Diwali.

A jeweler sells 50 grams of gold

Arora said that about 5 lakh small and big jewelers are active across the country. If each jeweler sells an average of 50 grams of gold, then the overall sale will be about 25 tonnes of gold, which at the current price will be estimated to be worth Rs 32,500 crore. Similarly, on an average, each jeweler selling 2 kg of silver will sell about 1,000 tonnes of silver, the current value of which is estimated to be around Rs 18,000 crore. Thus, the overall business in the bullion markets across the country is estimated to be more than Rs 50,000 crore. Khandelwal and Arora said that in view of the changing market trends, jewelers are now paying special attention to new options like fancy jewelery and silver coins so that the business can be accelerated as per the changing demands of the customers.