Despite record-high gold and silver prices, Ahmedabad’s festive spirit shone bright on Pushya Nakshatra, with precious metal sales touching an estimated 60 crore. Around 40 kg of gold and over 400 kg of silver were sold in the city on the auspicious day.
In the local market, gold prices hit 1.31 lakh per 10 grams, while silver soared to 1.90 lakh per kg — about ₹5,000 higher than market rates due to shortages. Most buyers preferred coins and bars over jewellery, treating their purchases as investments ahead of Dhanteras.
“People are buying gold and silver mainly for investment now,” said Ashish Zaveri of the Ahmedabad Jewellers Association. Jeweller Nishant Soni added that, unlike previous years, this season saw both buying and selling as some investors cashed in on high silver prices.
Due to severe silver shortage, traders accepted only limited orders. “Jewellery sales were subdued, but coins and bars were in huge demand,” said bullion trader Ritesh Adeshara.
With prices climbing steadily, several customers also exchanged old gold for new ornaments to benefit from higher valuations, jeweller Jigar Soni noted.
Buyers have already secured Dhanteras bookings, locking prices between 1.15 lakh and 1.27 lakh per 10 grams. With gold now at 1.31 lakh and further rise expected, many have made advance payments to hedge against price hikes amid global uncertainties.