Pune: Dhanteras Sees Steady Demand For Gold And Silver Despite High Prices
Pune: Dhanteras Sees Steady Demand For Gold And Silver Despite High Prices
This Dhanteras, jewellers reported steady demand for gold and silver, matching last year’s levels, despite record-high prices. According to Fatehchand Ranka, president of the Pune Saraf Association, customers are purchasing gold and silver within their budget, driven by wedding-related purchases and the auspicious nature of the day.
Gold prices hovered around ₹81,000 per 10 grams, while silver approached ₹1 lakh per kilogram on Tuesday. Notably, gold prices are approximately 30% higher than last Diwali. A Mumbai-based jeweller, observed high demand for gold and silver coins, despite customers finding prices too steep.
A gold retailer while speaking with media person told, 10-12% growth in value sales, offsetting a 12-15% decline in volume sales due to higher gold prices. Jewellers reported increased interest in lightweight and diamond jewellery, as well as wedding purchases.
The demand for gold ETFs and digital gold investments is rising, particularly among urban consumers. This shift redefines gold’s role as both a cultural symbol and financial asset. Semi-urban and rural areas, especially Tier II and III cities, are expected to drive demand as incomes rise.
Beyond major cities, Pune, Kolhapur and Nashik also witnessed high sales of gold and silver jewellery, defying record gold prices. Overall, the industry remains optimistic about the festive season’s prospects.
