Gold prices retreated from record highs on Saturday, dropping Rs 2,400 to Rs 1,32,400 per 10 grams in the national capital, even as consumers thronged jewellery stores across India to mark Dhanteras. On Friday, 24-carat gold of 99.9 per cent purity had surged by Rs 3,200 to an all-time high of Rs 1,34,800 per 10 grams. In the local bullion market, gold of 99.5 per cent purity also fell by Rs 2,400 to Rs 1,31,800 per 10 grams, down from Rs 1,34,200.Silver prices extended their losses, tumbling Rs 7,000 to Rs 1,70,000 per kilogram on Saturday, after hitting Rs 1,77,000 on Friday.

Soaring gold prices have dented jewellery demand but Indians are not ready to give up on the metal yet.

Dhanteras 2025 is turning into a record-breaking festival for Indian retailers, with strong demand across automobiles, electronics, and jewellery.Maruti Suzuki India expects to cross the 50,000-unit mark over the two-day festival, marking its highest-ever Dhanteras sales, said senior executive officer, marketing & sales, Partho Banerjee. “We are expecting around 41,000 deliveries today, with another 10,000 customers taking delivery tomorrow. This is going to be the all-time high for Dhanteras deliveries,” he told reporters. As per news agency PTI, Banerjee added that since the September 18 price reduction, the company has received nearly 4.5 lakh bookings, with small car bookings approaching one lakh units and retail deliveries reaching 3.25 lakh units in a month.Rival Hyundai Motor India Ltd MD & CEO designate Tarun Garg noted strong festive demand, with expected deliveries around 14,000 units, a 20 per cent increase from last year.“The positive momentum is driven by the festive spirit, a buoyant market environment and the encouraging impact of GST 2.0 reforms,” he said, as per PTI.Consumer electronics firms are also reporting a surge in sales.

Some Canadian jewelry brands are raising their prices as a surge in demand for gold — incited by investors' fears of a shaky economic outlook — pushes the market for this precious metal to record highs.

Jewellery shopping in India is increasingly moving online, with consumers embracing digital platforms for gold, diamond, and lab-grown diamond purchases. Once dominated by neighbourhood jewellers and in-person sales, the market is seeing growing trust in hallmark certifications, brand assurances, and seamless services, making online purchases more acceptable.According to a FICCI-Deloitte report, 73 per cent of consumers now begin their product search online, even for tactile categories like jewellery, while 53 per cent still visit physical stores to complete purchases. The Indian jewellery market, valued at $91 billion in 2025, is projected to reach $146 billion by 2030, with e-commerce platforms claiming an increasing share.Siddharth Bhagat, director of Amazon Fashion and Beauty, India, was quoted by news agency PTI as saying that sales of precious jewellery on the platform have risen 96 per cent year-on-year, driven by gold, diamond, and lab-grown diamond collections from brands including CaratLane, PN Gadgil Jewellers, Joyalukkas, PC Chandra, Malabar Gold and Diamonds, and KISNA.

Soaring gold prices led Indian buyers to choose coins and bars over jewellery during the Dhanteras festival on Saturday, fuelled by hopes that the precious metal's glittering rally would continue, industry officials told Reuters.

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On the auspicious occasion of Dhanteras, jewellery markets across India from Surat to Delhi witnessed a festive rush. Shoppers thronged stores to buy gold and silver despite record-high prices.Surat Jewellers Association Vice President Deepak Choksi noted that while footfall remains steady, purchasing power has dropped due to rising gold prices. In Delhi, buyers said gold rates have jumped nearly 43% in the past six months.Meanwhile, SP Chief Akhilesh Yadav criticised the government, saying, “People are suffering the brunt of inflation. Prices of gold and essentials are soaring, unemployment is rampant, and our economy has become dependent on China.” Show more Show less