The Dhanteras festival in India, a key event marking the start of Diwali and traditionally one of the busiest days for gold purchases, witnessed a significant shift in consumer behavior this year. Soaring gold prices led buyers to favor coins and bars over jewellery, despite the cultural significance of gold ornaments during the festival. Industry officials reported that while overall gold sales volume dropped by 10–15% compared to last year, the total value surged due to record-high prices. Rajesh Rokde, chairman of the All India Gem and Jewellery Domestic Council, noted that jewellery demand plummeted by nearly 30%, while coins and bars saw brisk sales. The price of gold in India reached an unprecedented 132,294 rupees per 10 grams, a 60% increase from last year’s Dhanteras. This spike has been attributed to global market trends and investor optimism about the precious metal’s continued rally. To sustain consumer interest, the industry is offering substantial discounts on jewellery making charges, particularly during the festive and wedding seasons. Meanwhile, silver also gained traction, with strong demand for coins, bars, and jewellery driven by its impressive price performance. Dealers anticipate that silver could outperform gold in the near future. The surge in precious metal prices has also boosted investments in gold and silver exchange-traded funds, reflecting a broader trend of investors seeking higher returns. With jewellery stores extending their hours to accommodate late-night shoppers, industry leaders expect the buying momentum to persist beyond Dhanteras.