Patna: Automobile, precious metals and consumer durables worth around Rs 4,500-5,000 crore were sold across the state on the occasion of Dhanteras on Tuesday, according to the Bihar units of Confederation of All India Traders (CAIT) and All India Jewellers and Goldsmith Federation (AIJGF).
About the trends in gold and silver market on Dhanteras, Chandan Soni, Bihar head of Indian Bullion and Jewellers Association Limited, said people mostly invest in bullion. “People mainly prefer buying the precious metals in the form of coins and bars/biscuits on Dhanteras, while the demand for jewellery is less in comparison to the former,” said Soni, the price of the yellow metal was too high this year as compared to last. “But since Dhanteras is considered an auspicious occasion, customers make it a point to buy something in gold as a good omen. Around 50% of the bookings were done before and customers just took their delivery on Dhanteras.”
Sakshi Shubham, a customer at a jewellery shop in Patna, said she was buying gold earrings this Dhanteras. “I wanted to buy a pair of earrings for myself and thought what could be a better occasion than the auspicious Dhanteras,” she said, while choosing a diamond-studded dangler.
The rate of 24K (carat) pure gold was Rs 78,850/10gm on Dhanteras, while that of 22K, 20K, 18K and 14K stood at Rs 76,950/10gm, Rs 70,170/10gm, Rs 63,870/10gm and Rs 50,860/10gm respectively on the day. Silver was priced at Rs 97,238 per kilogram on Dhanteras.
Meanwhile, over 2,000 units of two-wheelers worth nearly Rs 20 crore and around 700 four-wheelers worth around Rs 105 crore were expected to be delivered in Patna alone on Dhanteras, said Ashok Kumar Verma, Bihar president of CAIT and AIJGF.
“The sale of precious metals, comprising gold and silver, is expected to be around worth Rs 600 crore in the capital city on the day. Overall sale, including of precious metals, vehicles and consumer durables — usually purchased on Dhanteras — is estimated to be around Rs 4,500 crore to Rs 5,000 crore across Bihar,” he said.
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Dhanteras, marking the start of Diwali, is a key time to invest in precious metals like gold and silver. Gold offers stability, a hedge against inflation, and is culturally significant; whereas silver is more affordable, has industrial demand, and potential for higher returns during economic growth. Ultimately, the choice depends on individual financial goals and market conditions.
Dhanteras, occurring on October 29, 2024, is a significant festival for buying gold, silver, and other valuable items. It is vital to check auspicious timings, including Triyodashi Tithi, Pradosh Kaal, and Vrishabh Kaal, as well as Sthir Lagna and Muhurat, as these periods are believed to bring prosperity, good fortune, and financial stability.
On Tuesday evening, Kanpur’s markets, especially Birhana road, saw large crowds as devotees celebrated Dhanteras. Shoppers, particularly interested in silver coins priced at Rs 1100, favored buying from reputable jewellers who offered promotional deals and complimentary items. Children enjoyed the festivities with firecrackers after prayer rituals.