Dhanteras 2026 Jewellery Sales Value May Rise 20–30% as Gold Prices Correct

Jewellers across India expect higher sales in value terms this Dhanteras, supported by a recent correction in gold prices, wedding-related purchases and growing interest in lightweight jewellery. However, the quantity of jewellery sold is expected to remain largely unchanged from last year.

All India Gem and Jewellery Domestic Council (GJC) Chairman Rajesh Rokde expects jewellery sales value to increase by 20–30%, while sales volumes may remain flat year-on-year.

According to a PTI report published by The Economic Times, Rokde said the recent decline in gold prices has improved consumer sentiment ahead of Dhanteras, which falls on November 6, 2026. The Economic Times

He also noted that the festival falls at the beginning of the month, when many consumers are likely to have received their salaries, potentially supporting purchases.

Retailers are introducing offers and purchase schemes to attract customers during the festive season.

Gold Prices Correct From Recent Highs Ahead of Dhanteras

Gold prices have declined from their recent peaks, encouraging consumers to reconsider jewellery and bullion purchases.

Gold was priced at approximately Rs 1.10 lakh per 10 grams during the corresponding period last year.

The metal declined 12.8%, or Rs 20,900, from Rs 1,62,900 per 10 grams on May 29 to Rs 1.42 lakh per 10 grams on October 31.

However, prices recovered in early November.

According to ABP Live’s November 5 gold and silver market report, gold of 99.9% purity increased by Rs 4,800 to Rs 1,46,600 per 10 grams in New Delhi on November 4, while silver rose Rs 9,000 to Rs 1.93 lakh per kilogram. ABP Live English

Despite the correction from recent highs, gold remains more expensive than during the corresponding period last year.

Jewellers expect the recent price movement to encourage purchases, particularly among consumers who had postponed buying jewellery.

Inflation and Rural Conditions Could Affect Jewellery Demand

Rokde said inflation linked to geopolitical tensions and drought-like conditions in Maharashtra could affect consumer sentiment.

These factors may limit the quantity of gold and silver purchased, even if overall sales value increases.

However, he noted that bullion purchases are generally financed through household savings, which could reduce the impact of inflation on festive buying.

Elevated gold prices are also encouraging consumers to consider lighter jewellery designs and smaller purchases.

Wedding Purchases Expected to Support Gold Demand

World Gold Council Regional CEO, India, Sachin Jain, said the correction in gold prices has helped stimulate jewellery demand.

He expects consumers planning weddings over the next three to six months to consider advancing their purchases to benefit from current price levels.

Jain anticipates demand across premium jewellery, wedding collections and investment-oriented products, including gold coins and bars.

The upcoming wedding season is expected to provide additional support to festive jewellery purchases.

Lightweight Jewellery and 18-Karat Gold Gain Attention

GJC Vice Chairman Avinash Gupta expects jewellery demand to grow 15–20% in value terms, while volumes may remain at last year’s levels.

Gupta said the market had experienced slower demand over the previous six months due to rising gold and silver prices.

He also cited the Prime Minister’s appeal to citizens to refrain from purchasing gold as a factor affecting demand during that period.

According to Gupta, lightweight jewellery is expected to attract greater interest, with wedding jewellery buyers increasingly considering 18-karat gold.

Consumers are exploring lighter designs and different gold purities as they adjust purchases to higher prices.

Silver Jewellery and Coins Attract Younger Consumers

Silver jewellery and coins are also gaining attention ahead of Dhanteras.

Rokde said silver continues to attract younger consumers because of its relative affordability and the variety of designs available.

He expects silver sales value to increase by approximately 30%, while volumes may remain flat compared with last year.

Gupta offered a different forecast, expecting 10% year-on-year growth in silver sales volumes following a correction of nearly 50% in prices.

He said consumers are increasingly purchasing both gold and silver for weddings and investment purposes.

Gold jewellery is generally preferred for the main wedding ceremony, while silver jewellery and articles are being considered for other wedding rituals.

Senco Gold Expects Over 20% Festive Sales Growth

Senco Gold Ltd Managing Director and CEO Suvankar Sen expects the company to achieve more than 20% growth during the festive season compared with last year.

Sen said a correction of 8–10% in gold prices has encouraged buyers to explore new designs and different gold purities.

He added that consumers are increasingly considering quality, value and versatility when selecting jewellery.

The company is also witnessing growth of more than 25–30% in its diamond jewellery business.

Kama Jewelry Sees Demand for Lightweight Studded Jewellery

Kama Jewelry founder and Managing Director Colin Shah said the softening of gold prices has improved consumer sentiment ahead of the festive season.

However, elevated underlying prices continue to influence purchasing decisions.

Shah said demand has shifted towards lightweight studded jewellery in the 9K to 19K gold range.

The trend has also supported demand for both lab-grown and natural diamonds, particularly for purchases valued between Rs 1.5 lakh and Rs 3 lakh.

He expects overall sales value to remain broadly similar to last year, while sales volumes could decline by approximately 10%.

Shah attributed the expected volume decline partly to the rupee-dollar exchange rate and its impact on domestic gold prices.

Organised Jewellery Retailers May See Value-Led Growth

A separate industry outlook also points towards higher sales value despite pressure on the quantity of jewellery sold.

According to The Economic Times’ November 5 report citing Crisil Ratings, organised gold jewellery retailers could see a 4–6% year-on-year decline in sales volumes during the financial year, while revenue is expected to grow 20–21% due to higher realisations. The Economic Times

This forecast covers the financial year and is separate from the GJC’s Dhanteras-specific sales expectations.

Jewellers remain optimistic about festive demand, particularly for lightweight gold jewellery, silver products and wedding-related purchases.

However, industry forecasts indicate that sales growth may be driven more by higher transaction values than an increase in the quantity of jewellery sold.

Actual sales during Dhanteras will provide a clearer picture of consumer demand following the recent correction in precious metal prices.

Frequently Asked Questions (FAQs)

1. When is Dhanteras in 2026?

Dhanteras falls on November 6, 2026.

2. How much are jewellery sales expected to grow this Dhanteras?

GJC Chairman Rajesh Rokde expects jewellery sales value to increase by 20–30%, while sales volumes may remain flat.

3. What was the gold price on November 4, 2026?

Gold of 99.9% purity was priced at Rs 1,46,600 per 10 grams in New Delhi, up Rs 4,800 from the previous session.

4. Why is lightweight jewellery gaining demand?

Elevated gold prices are encouraging consumers to consider lighter designs and different gold purities to manage purchase costs.

5. What is the outlook for silver jewellery sales?

Rajesh Rokde expects silver sales value to grow around 30% with flat volumes, while Avinash Gupta forecasts 10% year-on-year volume growth.