Gold sales during Dhanteras, Lakshmi Puja may cross Rs 62,000 crore

Mumbai:  Gold sales across India during Dhanteras and Lakshmi Puja are estimated to cross Rs 62,000 crore, reflecting strong consumer demand despite elevated gold prices, according to the All India Gem and Jewellery Domestic Council (GJC) on Sunday.

Gold has continued to attract buyers this festive season, supported by its strong historical returns, cultural significance and growing confidence among investors, Rajesh Rokde, Chairman of the All India Gem and Jewellery Domestic Council (GJC), said.

He also noted an increasing interest in gold purchases among Gen Z and younger consumers during this year’s Lakshmi Puja.

“During this year’s Lakshmi Puja, I have also noticed that even Gen Z & the younger generation have been keen on buying gold,” he stated.

“Also, Gold holds exceptional significance in our religious & cultural traditions & buying jewellery during Laxmi Puja & Dhanteras is considered auspicious,” he added.

Comparing gold prices over the past year, Rokde said the precious metal has delivered returns of approximately 9-14 per cent between Lakshmi Puja in October 2025 and November 2026.

He highlighted that gold prices, which generally ranged between Rs 80,000 and Rs 1.15 lakh per 10 grams over the last three years, have climbed significantly to around Rs 1.42 lakh-Rs 1.43 lakh during the current festive season.

“From last year’s Lakshmi Puja (October 2025) to this year’s Lakshmi Puja (November 2026), gold has given a strong return of about 9 to 14 per cent,” he stated.

He added that gold prices had touched levels of Rs 1.81 lakh-Rs 1.85 lakh earlier this year, making the prevailing prices appear relatively attractive to customers.

According to him, the sharp rise in gold prices has further strengthened consumer confidence in the precious metal, encouraging both jewellery purchases and investment demand.

Highlighting the long-term performance of the precious metal, the GJC chairman claimed that gold has delivered returns of around 3,200 per cent over the past 26 years.

He said the metal has demonstrated resilience through several global economic downturns, wars, recessions and market crashes, strengthening its position as a preferred asset among investors.

“If you look at gold’s history in the last 26 years, it has given a 3200 per cent return. No other asset class has given this kind of consistent return. In fact, it has survived every recession, war & market crash and still comes out stronger,” Rokde noted.