India's Diwali Gold Rush: Jewellery Sales Cross ₹62,000 Crore in Just Two Days

 Representative image: traditional Indian gold jewellery. (Photo: WordPress Photo Directory, CC0)

India's love for gold has delivered a record festive season. Gold jewellery sales across the country crossed ₹62,000 crore — about $6.6 billion — during just two days of Dhanteras and Lakshmi Pooja, according to an estimate by the All-India Gem and Jewellery Domestic Council (GJC). Sales rose an estimated 15 to 20 per cent over last year, even though gold prices remain far above where they were a year ago.

A Record Two Days for Jewellers

The numbers underline how central gold remains to India's biggest festival. Dhanteras and Lakshmi Pooja are the two most auspicious days in the Hindu calendar for buying gold, and jewellers reported strong footfall from the morning itself. Advance bookings in the run-up to the festival were very strong, with many customers collecting pre-ordered pieces on the day itself, jewellers said. The surge came despite prices that would have seemed unthinkable only a few years ago.

High Prices Did Not Slow Buyers Down

Gold prices hit a record high of ₹1.81 lakh to ₹1.85 lakh per 10 grams in January this year, before easing over the last two months to around ₹1.41 lakh to ₹1.43 lakh. That is still sharply higher than the ₹80,000 to ₹1.15 lakh range seen over the past three years. Yet buyers kept coming. GJC chairman Rajesh Rokde said gold has continued to attract buyers because of its strong historical returns, its cultural significance and growing investor confidence. Between Lakshmi Pooja in October 2025 and this year's festival, gold delivered returns of roughly 9 to 14 per cent.

Young Buyers Join the Gold Rush

One of the most interesting shifts this year is who is buying. The GJC noted a significant rise in gold purchases among Gen Z and younger consumers during Lakshmi Pooja, a group that jewellers once assumed preferred gadgets and experiences over ornaments. For many young buyers, gold now works as both a festive purchase and an investment — a piece of jewellery that can be worn at weddings and still hold its value. With the wedding season now beginning, jewellers expect the momentum to continue into the year-end.

What Comes Next for Gold

The festive rush has given the jewellery trade an encouraging outlook for the rest of the year. The combination of easing prices from the January peak, strong wedding-season demand and gold's reputation as a safe investment has jewellers hopeful. Whether prices climb again or cool further will decide how the next few months play out, but one thing is already clear: even at record prices, India's gold rush is far from over.

Conclusion

₹62,000 crore in two days is more than a sales figure — it is a reminder of how deeply gold is woven into India's festivals, families and finances. Prices may rise and fall, but the trust Indians place in gold has only grown stronger this Diwali.

Did you buy gold this Diwali, or are you waiting for prices to fall further? Tell us in the comments.