Tirupati: Soaring gold prices have done little to dull the festive sparkle of Dhanteras this year, as jewellery stores across the pilgrim city reported brisk business and steady crowds. Customers thronged showrooms in large numbers, continuing a buying trend similar to last year. While the quantity of gold purchased has dipped, jewellers say the overall sales value remains strong, with buyers adapting smartly to the price surge.

For generations, purchasing gold on Dhanteras has been seen as a symbol of prosperity and good fortune. The belief that buying gold on this day brings the blessings of Goddess Lakshmi continues to outweigh worries over rising costs. Many families stepped out to buy gold and silver according to their budget, hoping the ritual would invite prosperity and positivity into their homes during Lakshmi Puja.

With prices touching record highs, customers are recalibrating their choices. Lightweight ornaments, gold coins, and small bars are the preferred picks over heavy jewellery. Large jewellers, especially corporate chains, have seized the opportunity by offering discounts on making charges, exchange schemes, and festive promotions, keeping their showrooms packed through the day. Smaller merchants, however, are feeling the impact as footfall shifts towards bigger brands that provide better deals and variety.

Interestingly, despite the steep rise in rates, gold continues to deliver positive returns year after year around Dhanteras. “Buying gold is not just for festivals anymore. With its long-term value, it is turning out to be a better investment than most other options”, said a customer at a jewellery store while selecting ornaments early to avoid the rush on Dhanteras day.

According to KV Satyanarayana, Vice President of the Andhra Pradesh State Gold and Silver Merchants Association, this year’s sales could have been even higher if not for the unprecedented prices. “Gold prices have increased by about 48 percent so far this year. While trade volume has dropped, the sales value remains robust. Buyers are increasingly opting for coins, bars, and biscuits, seeing them as investment assets rather than adornments”, he told The Hans India.

Satyanarayana added that gold purchases for weddings and essential occasions are still happening, though in smaller quantities. Another emerging trend, he noted, is the rising preference for 18- and 14-carat jewellery, and even 9-carat ornaments, which are now permitted with government hallmarking. “However, not all designs can be crafted with lower purity levels”, he pointed out.

Even banks have noticed a shift in consumer behaviour. A senior bank official observed that falling interest rates have made fixed deposits less attractive. “People are realising that gold offers better returns. Instead of locking Rs 5 lakh in an FD, customers are buying gold biscuits, and seeing tangible profits”, he said.

Consumers may be adjusting their buying patterns, but the sentiment behind the purchase like faith, prosperity, and long-term value continues to shine brighter than the metal itself.