Mumbai: Gold sales across India during Dhanteras and Lakshmi Puja are estimated to cross Rs 62,000 crore, reflecting strong consumer demand despite elevated prices, according to the All India Gem and Jewellery Domestic Council (GJC) on Sunday.
Gold has continued to attract buyers during the festive season, supported by its historical returns, cultural significance and growing investor confidence, GJC Chairman Rajesh Rokde said.
He also pointed to increasing interest in gold purchases among Gen Z and younger consumers during this year’s Lakshmi Puja.
“During this year’s Lakshmi Puja, I have also noticed that even Gen Z and the younger generation have been keen on buying gold,” Rokde said.
He added that gold holds considerable importance in India’s religious and cultural traditions, with purchasing jewellery during Lakshmi Puja and Dhanteras considered auspicious.
Gold Prices Rise to Rs 1.43 Lakh per 10 Grams
Comparing gold prices over the past year, Rokde said the precious metal had delivered returns of approximately 9-14 per cent between Lakshmi Puja in October 2025 and November 2026.
He noted that gold prices, which generally ranged between Rs 80,000 and Rs 1.15 lakh per 10 grams over the last three years, had climbed significantly to around Rs 1.42 lakh-Rs 1.43 lakh during the current festive season.
“From last year’s Lakshmi Puja (October 2025) to this year’s Lakshmi Puja (November 2026), gold has given a strong return of about 9 to 14 per cent,” he said.
Rokde added that gold prices had touched Rs 1.81 lakh-Rs 1.85 lakh earlier this year, making the prevailing levels appear relatively attractive to customers.
According to him, the sharp rise in prices has further strengthened consumer confidence in gold, encouraging both jewellery purchases and investment demand.
GJC Chairman Highlights Gold’s Long-Term Returns
Highlighting the long-term performance of the precious metal, Rokde claimed that gold had delivered returns of around 3,200 per cent over the past 26 years.
He said gold had remained resilient through several global economic downturns, wars, recessions and market crashes, strengthening its position as a preferred asset among investors.
“If you look at gold’s history in the last 26 years, it has given a 3200 per cent return. No other asset class has given this kind of consistent return. In fact, it has survived every recession, war and market crash and still comes out stronger,” Rokde said.