Business · Markets · 4 hrs ago
Gold price drop brings buyers back to Indian jewellery stores
Gold prices in India have fallen more than 7% over the past month, drawing shoppers back to jewellery stores ahead of Dhanteras.
Dhanteras, which falls on November 6, is considered an auspicious day for high-value purchases.
Jewellers expect sales volume on Dhanteras to rise 10–12% from last year, as customers buy jewellery and silver items and book wedding-season purchases in advance.
In Mumbai, gold was priced at ₹1.37 lakh per 10 grams on Monday, down from ₹1.48 lakh a month earlier.
Prices remain high compared with historic levels, so many shoppers are choosing lightweight jewellery, lower-karat gold and smaller purchases to stay within budget.
Some jewellers say the lower prices are also giving customers more room to consider different designs or heavier pieces.
Jewellers expect buying to continue through Dhanteras, while wedding demand is expected to remain an important driver.
Gold prices have fallen more than 7% in the past month, bringing more shoppers back to Indian jewellery stores ahead of Dhanteras.
Jewellers expect sales volume on Dhanteras to rise 10-12% from a year earlier.
Consumers are buying gold and silver items and placing advance orders for the wedding season.
Jewellers say buyers are also choosing lightweight jewellery, lower-karat gold and smaller purchases to manage costs.
Gold was trading at ₹1.37 lakh per 10 grams in Mumbai’s spot market on Monday, down from ₹1.48 lakh a month earlier.
- Who
- Indian jewellery buyers and jewellers.
- What
- Buyers are returning to stores as gold prices fall, and jewellers expect Dhanteras sales volume to increase.
- When
- Buying picked up from the week before November 3, 2026, ahead of Dhanteras on November 6.
- Where
- Jewellery stores in India; the cited spot price was in Mumbai.
- Why
- The decline in gold prices has made purchases more affordable for consumers.
This story does not have two clearly opposing sides.
Gold prices fell more than 7%, bringing buyers back to jewellery stores.
Buying picked up as gold prices began correcting.
Gold was trading at ₹1.37 lakh per 10 grams in Mumbai’s spot market on Monday.
Dhanteras is expected to draw festive purchases, with jewellers forecasting higher sales volume.
- Gold price decline
- More than 7% over the past month
- Expected Dhanteras sales growth
- 10-12% from a year earlier
- Mumbai spot gold price
- ₹1.37 lakh per 10 grams on Monday
- Earlier gold price
- ₹1.48 lakh per 10 grams a month earlier
- Dhanteras
- November 6
What people are saying
sales volume to increase 10-12% from a year earlier on the day considered to be one of the most auspicious to make high-value purchases
The recent softening in gold and silver prices, coming just ahead of Dhanteras, is a welcome development for customers who had been waiting for a more comfortable point to make their festive purchases
With improved affordability, consumers have greater flexibility to explore a wider range of designs, consider slightly higher-weight jewellery or make more considered purchases within their existing budgets
Everyday lightweight diamond pieces, studded jewellery and solitaires are witnessing traction