Gold Worth ₹60,000 Crore! Indians Go on a Dhanteras Shopping Spree Despite Soaring Prices

India witnessed a massive shopping boom on Dhanteras, with gold, silver, automobiles and consumer goods recording strong demand as millions of households embraced the festive tradition of making auspicious purchases ahead of Diwali.

Gold sales across the country were estimated at around ₹60,000 crore, while silver sales rose nearly 30 per cent in value, reflecting strong consumer interest despite elevated precious metal prices. From traditional jewellery and silverware to luxury cars and high-value household purchases, shoppers opened their wallets in a major festive spending surge.

Patna emerged as one of the standout markets, recording business worth more than ₹3,800 crore on Dhanteras. The city's shopping activity included the sale of 23 BMW cars, highlighting the growing appetite for premium automobiles. Among the notable purchases was a silver temple valued at approximately ₹65 lakh, underlining the scale and variety of festive spending.

The buying momentum extended across Bihar, with north Bihar alone recording business of around ₹2,800 crore. Automobile dealerships also reported a sharp rise in customer interest, adding to the festive market's overall buoyancy.

Beyond precious metals and vehicles, electronics, apparel, home appliances and other retail categories contributed to the shopping rush. Overall festive retail spending across the country is projected to exceed ₹1 lakh crore, pointing to a strong consumption season.

However, soaring gold and silver prices influenced purchasing patterns. Rather than abandoning the tradition, many buyers opted for lighter jewellery, smaller quantities and alternative investment options. Digital gold-related products, including Electronic Gold Receipts (EGRs), also attracted attention as consumers explored more convenient ways to participate in the precious metals market.

The festive buying momentum is expected to continue with Muhurat Trading scheduled for November 8, giving investors another opportunity to mark the auspicious occasion through market participation.

The record purchases highlight how Dhanteras continues to combine traditional beliefs with changing consumer preferences, with households increasingly balancing cultural customs, investment choices and aspirations for premium goods.