As gold falls from Rs 1.8 lakh peak to Rs 1.42 lakh per 10 grams, Indians buy 30% more, spending Rs 72,00 - The Times of India

AI desk brief

Indian Dhanteras-Diwali gold purchases rose 30% year on year to 52 tonnes worth Rs 72,000 crore, while silver buying increased 10% to 300 tonnes worth Rs 5,400 crore, according to IBJA. The rebound followed gold’s retreat from around Rs 1.8 lakh to Rs 1.42 lakh per 10 grams; jewellers also cited advance wedding-season purchases and pent-up demand. Stronger buying could support physical demand if sustained into the mid-November–March wedding season. However, gold sales volumes in the fiscal year through September fell nearly 50%, making the festival recovery a qualified rather than broad-based demand signal.