Indian consumers are redefining traditional Dhanteras gold purchases this year, pivoting toward lightweight designs, investment grade pieces, and hallmarked jewelry as prices breach historic levels, according to insights from the All India Gem and Jewellery Domestic Council.
Gold touched a new lifetime high of 134,800 rupees per 10 grams in the national capital Friday, yet demand remains robust heading into Saturday’s Dhanteras celebrations. What’s changed isn’t whether Indians are buying gold for the auspicious occasion, but rather how they’re approaching purchases with unprecedented price consciousness and strategic thinking.
The GJC reports that consumers are gravitating toward what the industry calls “smart, purposeful buying” rather than retreating entirely from the market. Popular choices include lightweight jewelry designs that offer aesthetic appeal without the hefty price tags of traditional heavy pieces, gold coins for pure investment purposes, and hallmark certified products that guarantee purity and future resale value.
“We’re seeing a wave of smart, purposeful buying this Dhanteras,” said Rajesh Rokde, Chairman of GJC. The organization projects this strategic consumer behavior will contribute to a 12 to 15 percent growth in gold sales this year, despite prices that would have seemed unthinkable just months ago.
What makes this Dhanteras particularly interesting is the collision between deeply rooted cultural tradition and contemporary financial pragmatism. Since last Dhanteras, prices have surged from around 78,840 rupees per 10 grams on October 29, 2024, to nearly 128,000 rupees in October 2025, representing a stunning 63 percent jump. That kind of appreciation would typically devastate consumer demand in any normal market, yet gold’s cultural significance during Dhanteras keeps buyers engaged.
The shift manifests in several observable ways. Younger buyers, particularly Gen Z consumers, are showing increased interest in sustainable and responsibly sourced jewelry, according to GJC reports from retailers nationwide. This demographic approaches gold purchases with different priorities than their parents’ generation, valuing transparency about sourcing and production alongside traditional considerations of purity and craftsmanship.
Another notable trend involves families with weddings planned for 2026 making early purchases to lock in current prices before anticipated further increases. This forward thinking buying represents a sophisticated understanding of gold as both cultural necessity and financial asset. When your daughter’s wedding requires significant gold purchases, buying now at today’s record prices might seem counterintuitive until you consider that analysts project prices could climb even higher.
Motilal Oswal sees the gold rally extending to 4,500 dollars on COMEX and 135,000 rupees in India, while some forecasts suggest 150,000 rupees per 10 grams could be reached by next Diwali. Against that backdrop, locking in purchases at 130,000 to 135,000 rupees starts looking strategic rather than extravagant.
The GJC’s Lucky Lakshmi Jewellery Sales Festival, running from September 22 to November 9, aims to support this momentum through promotions, lucky draws, and digital campaigns. The initiative specifically targets self purchase behavior and helps retailers of all sizes capitalize on festive demand. The “Celebrate You” theme reflects how gold buying is evolving beyond purely traditional gift giving into personal investment decisions.
Recent GST reforms rolled out in September 2025 have also influenced consumer confidence, according to the GJC. The simplified tax structure and increased disposable income are helping sustain foot traffic across organized retail, even as buyers actively negotiate on making charges and seek discounts. That negotiation behavior itself signals sophisticated consumers who understand that while gold content pricing is largely fixed, value added charges remain somewhat flexible.
Avinash Gupta, Vice Chairman of GJC, emphasized the informed nature of contemporary buyers. “We’re seeing a clear shift toward informed and value driven purchases. Buyers are prioritizing hallmark certification, sustainable sourcing, and designs that offer both aesthetic appeal and long term value,” he noted. This represents a maturation of India’s gold market, where consumers increasingly understand the difference between jewelry as decoration and gold as financial asset.
The emphasis on hallmark certification deserves particular attention. India has made significant strides in mandatory hallmarking for gold jewelry, and consumers are responding by specifically seeking BIS hallmarked products. This quality consciousness protects buyers from purity fraud that historically plagued the industry and ensures that purchases maintain value over time.
Gold coins and versatile daily wear jewelry are seeing especially strong interest, according to retailer reports compiled by the GJC. Coins appeal to pure investors who want maximum gold content without paying making charges for artistic workmanship. Daily wear pieces offer the cultural satisfaction of gold ownership without the expense or impracticality of elaborate traditional jewelry that might be worn only occasionally.
The global context helps explain why Indian buyers remain willing to pay record prices. Spot gold eased by 22.39 dollars to 4,303.73 dollars per ounce on Friday, following a record high the previous session. Gold has delivered an astounding 58 percent year to date increase, surpassing the 4,000 dollar per ounce threshold, driven by geopolitical tensions, inflation concerns, expectations of US interest rate cuts, and robust central bank gold acquisitions.
India’s rupee depreciation amplifies these global price movements. Since India imports approximately 86 percent of its gold despite high import duties, when the rupee weakens against the dollar, gold becomes costlier domestically. This currency dynamic explains why Indian gold prices often move more dramatically than global benchmarks suggest.
The wedding season factor cannot be overstated in understanding Indian gold demand. Weddings represent the single largest category of gold consumption in India, and families planning 2026 ceremonies face difficult decisions about timing their purchases. Wait and risk higher prices, or buy now at levels that already feel historically elevated? Many are choosing the certainty of current prices over the gamble that a correction might occur.
Industry observers note that this Dhanteras will test whether cultural tradition can genuinely overcome price sensitivity. Last year, 25 to 30 tonnes of gold were sold during the festive season, though overall volume was lower due to sharp price rises. Sales value still jumped 12 to 18 percent as consumers shifted toward lightweight jewelry and smaller denomination gold coins, foreshadowing this year’s strategic buying patterns.
What makes 2025 different is the sheer magnitude of price appreciation. A 63 percent annual increase represents wealth destruction for buyers who postponed purchases or wealth creation for those who bought last Dhanteras. That stark differential reinforces gold’s role as inflation hedge and wealth preservation vehicle, even as it makes new purchases financially challenging.
The GJC urges consumers to buy only from trusted jewelers and seek hallmark certification to ensure purity and authenticity. This advisory reflects ongoing concerns about quality standards in a market where prices incentivize fraud. When gold hits 135,000 rupees per 10 grams, even small purity discrepancies represent substantial financial losses.
As Dhanteras arrives Saturday followed by Diwali on Monday, India’s gold market faces its annual moment of truth. Will cultural tradition and strategic buying sustain demand despite record prices, or will sticker shock finally overcome religious sentiment? Early indications suggest tradition will prevail, albeit with consumers making smarter, more selective purchases that prioritize value, quality, and investment characteristics alongside cultural significance.
The shift from heavy traditional jewelry to lightweight designs, from pure adornment purchases to investment conscious decisions, and from passive buying to active price negotiation signals a maturing market. Indian consumers are discovering they can honor Dhanteras traditions while simultaneously making financially rational decisions about how they allocate resources to gold. That evolution may prove more significant for India’s gold market than any single day’s price movement.
Source: newsghana.com.gh
