Dhanteras 2025: Silver bars, coins steal spotlight from gold with sales doubling despite price hike

Despite steep price hikes, silver outshone gold this Dhanteras, with coin sales surging 35-40% year-on-year and overall silver business more than doubling in value. In contrast, gold volumes dipped by 10-15%, even as total festive value sales are expected to cross ₹50,000 crore, according to the All India Gem and Jewellery Domestic Council (GJC). 

Celebrated over two days, Dhanteras will see jewellery stores remain open past midnight. While 24-carat gold touched ₹1,32,000 per 10 gm in Delhi (up 63% from last year), silver rose 40% to ₹1,70,000 per kg. A mild correction on Saturday brought some relief: gold dipped ₹2,000 overnight in Delhi and Mumbai, spurring last-minute buying. 

Consumers, adapting to high prices, shifted toward bullion and lightweight pieces, especially coins between 1-50 gm. “Despite high prices, sentiment remains upbeat... Silver coins and puja items surged 40% year-on-year,” said GJC Chairman Rajesh Rokde. 

GJC Vice Chairman Avinash Gupta noted a 20-25% rise in average transaction value, driven by silver’s affordability and gifting appeal in smaller cities. “This year isn’t just tradition — it’s thoughtful, value-driven celebration,” he said, adding that self-purchase among younger buyers also rose by 15%. 

Senco Gold & Diamonds MD Suvankar Sen said lightweight gold remained in demand, but silver led the bookings. “Silver volume is flat, but with prices up over 100%, we expect more than double the business,” he said. 

PNG Jewellers' Saurabh Gadgil reported strong demand across categories, but called bullion “exceptional,” despite silver supply constraints. Kama Jewelry MD Colin Shah projected 18–20% overall festive sales growth, led by 9-18 carat jewellery. 

The World Gold Council’s India chief Sachin Jain said gold retained its cultural pull, but acknowledged silver’s growing strength. CAIT pegged total gold and silver sales at ₹60,000 crore — a 25% jump from last year. 

India remains the world’s second-largest gold consumer, behind China. 

(With inputs from PTI)