Dhanteras Sees Surge in Gold and Silver Sales Amid Price Drops in Nagpur
The easing prices of gold and silver, coupled with a GST cut, have boosted Dhanteras sales in Nagpur, leading to a spike in consumer spending across various sectors.
DhanterasGold PricesSilver PricesGst CutNagpurReal Estate NewsOct 18, 2025
In Nagpur district, the jewellery industry witnessed a trade of around 150 crore. Most of the items sold were gold coins, mangalsutras, chains, rings, and earrings. The response has been quite positive, and since Dhanteras falls on a Saturday and Sunday this year, the trend is expected to continue into Sunday with robust sales, said Rajesh Rokde, chairman of the Gems and Jewellery (Domestic) Council (GJC) and president of Nagpur Sarafa.
The domestic prices of both gold and silver are derived from the rates quoted on global exchanges like the New York Mercantile Exchange (NYMEX). Both metals have eased in India as the prices corrected at NYMEX. Gold rates came down by 100 dollars an ounce from the peak, touching $4,251. Silver rates also receded to $51 an ounce from an all-time high of $54 an ounce, according to traders. This correction was reflected in the Indian prices, said Rokde.
The domestic rates are determined through complex calculations, converting ounces into tola (for gold) and kg (for silver), factoring in exchange rates, and adding customs duty. The availability of fresh supply has brought down silver prices, and the additional premium that was charged has also decreased, noted traders.
The GST cut has also led to increased buying in other market segments like automobiles, consumer durables, and real estate. Ashish Kale, a four-wheeler dealer and former president of the Federation of Automobile Dealers Association (FADA), reported an 80% jump in bookings for two-wheelers. The demand has been driven by a 10% GST cut in the segment. There was a slump in the commuter segment of two-wheelers and entry-level car sales before the cut, he said. Bookings for SUVs also increased by 50%. However, supplies are not reaching dealers at the same pace, Kale added.
This Dhanteras can be termed the most favourable for builders after the pandemic, said Shravan Kukreja of M/s Kukreja Infrastructures. Consumers were seen making quick decisions on real estate purchases this time, he noted.
Frequently Asked Questions
What is Dhanteras?
Dhanteras, also known as Dhantrayodashi, is a significant day in the Hindu festival of Diwali. It is considered an auspicious day for buying gold, silver, and other precious metals.
How much did gold prices drop in Nagpur on Dhanteras?
Gold prices in Nagpur dropped by 2,500/tola to touch 1.28 lakh/tola on Dhanteras.
What impact did the GST cut have on the automobile sector?
The GST cut led to an 80% jump in bookings for two-wheelers and a 50% increase in bookings for SUVs in the automobile sector.
Why did platinum prices increase?
Platinum prices increased to 60,000 per 10gm, a rise of 11,000 in just a month, due to various market factors and increased demand.
How did Dhanteras affect the real estate market in Nagpur?
Dhanteras was the most favourable for builders after the pandemic, with consumers making fast decisions on real estate purchases.
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