Dhanteras Gold Sales: Profits Shine Despite Price Surge

Gold sales during Dhanteras are expected to drop by 10% in volume due to a sharp 33% rise in gold prices. Despite high prices, industry leaders expect increased footfall, with both online and offline interest. Car sales also saw significant growth, showcasing diverse consumer spending.

As Dhanteras unfolds, the sales of gold are projected to fall by 10% in volume compared to last year, driven by a whopping 33% increase in gold prices, industry insiders report.

Celebrated over two days, Dhanteras sees avid participation from consumers both in online and offline marketplaces, with gold prices surging to Rs 81,400 per 10 gram this year from Rs 61,200 last year in the national capital.

Despite soaring costs, jewellers anticipate steady footfalls and spending. "While volumes may dip, the value of sales should rise by 20%," noted Saiyam Mehra, Chairman of the All India Gem And Jewellery Domestic Council.

As celebrations continue through to Wednesday afternoon, jewellers are optimistic about further business. Amid high prices, gold coins and lightweight pieces like bracelets and earrings remain popular.

Automakers registered robust sales, with Mercedes-Benz India leading luxury car sales and Kia India and JSW MG Motor India reporting strong delivery numbers.

(With inputs from agencies.)