Today marks Dhanteras, the festival of joy and prosperity. Tradition holds that on this day, Lakshmi arrives at homes where gold jewellery is purchased. Jewellery stores are offering attractive deals, and customers are eagerly buying gold to honour the custom, despite the high prices.
Gold prices have surged by about ₹17,000 compared to last year. Jewellery stores continue to uphold the Dhanteras tradition, even as the increased prices make it challenging for buyers. With the marriage season approaching, traders expect strong sales.
During last year’s Dhanteras, 22-carat gold was priced at ₹56,000 per 10 grams in Bhubaneswar, while today it has climbed to ₹73,150. The price of 24-carat, or pure gold, has reached ₹80,000, with recent quotes at ₹79,800. “We want to buy gold, but due to high prices, we’re opting for lighter pieces,” said one customer.
Unlike last year, when weddings were held after Dhanteras, this year’s marriage season begins right with Dhanteras. Traders are hopeful this will lead to stronger sales than last year.
Gold jewellery establishments in the state have stocked over 10 quintals of new gold jewellery specifically for Dhanteras to meet the demand. The industry anticipates selling one and a half to three quintals of gold jewellery on this auspicious day alone.