Dhanteras Sales 2026: Will the Gold Price Fall Make Gold Coins and Bars the Star of the Festival? What Jewellers Expect and Why Volumes May Stay Flat

Dhanteras sales are expected to rise 15% to 30% in value this year as the fall in gold prices brings buyers back, with gold coins and bars leading demand, jewellers told PTI on 6 November 2026. Volumes, however, are expected to stay largely flat. Here is what jewellers expect, why investment buying is taking the lead, how this Dhanteras compares with last year and what could spoil the festival.

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Dhanteras Sales 2026: What Jewellers Expect

Voice	Expectation for Dhanteras sales
Rajesh Rokde, GJC chairman	The decline in gold prices should boost demand; volumes flat year on year, with demand in lightweight jewellery, silver and gold coins and bars
Avinash Gupta, GJC vice chairman	Demand up 15% to 20% in value terms with volumes at last year's level; expects premium jewellery, gold coins and bars
Shah, jeweller quoted by Asianet	A volume decline of about 10%, citing the rupee-dollar rate
Industry range	Value growth of 15% to 30%, per press reports

Dhanteras falls on 6 November this year, at the start of the month when many households have received salaries, Rokde noted. That timing could support spending, but it does not lift volumes by itself.

Why Gold Coins and Bars Are Expected to Lead Dhanteras Sales

Reason	Detail
Investment sentiment	Buyers see the fall from the January peak as a chance to add gold
Gifting tradition	Gold coins and bars, especially small coins, are a common Dhanteras and Diwali gift
Lower extra cost	Jewellery buyers in India typically pay making charges of 10% to 20% of the gold price, a Reuters report said, while gold coins and bars carry a smaller premium
Small tickets	Lightweight designs, silver pieces and small coins fit smaller budgets
Easy resale	Gold coins and bars are generally easier to resell at gold value than jewellery

Gold coins and bars also tracked this pattern last year. Reuters reported that after record prices on Dhanteras 2025, jewellery demand fell nearly 30% while coins and bars were flying off the shelves, per the India Bullion and Jewellers Association's Surendra Mehta. Overall volumes were 10% to 15% lower, but value rose sharply on higher prices, Rokde said.

Dhanteras Sales This Year Versus Last Year

Item	Dhanteras 2025	Dhanteras 2026
Gold price	Rs 1,27,008 per 10 grams close on the Friday before, after a record Rs 1,32,294	About Rs 1,42,000 per 10 grams, per a Livemint report; roughly 12% higher than last year (my arithmetic, bases differ)
Sales value	Rose sharply	Expected up 15% to 30%
Sales volume	Down 10% to 15%	Expected flat; one jeweller sees about 10% lower
Jewellery	Demand down nearly 30%	Lightweight and small-ticket demand
Gold coins and bars	Strong	Expected to lead

The bases differ because the retail and exchange quotes come from different sources, so treat the percentage as an approximation.

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The Twist: Gold Is Below Its Peak but Above Last Dhanteras

Gold is more than 20% below its January record, which is why Dhanteras sales sentiment has improved. Yet it is still higher than at last year's Dhanteras. That explains why sellers expect value to rise but volumes to stay flat: each gram costs more than a year ago, so shoppers buy fewer grams in smaller ticket sizes. For buyers, gold coins and bars give investment exposure without the making charges that dominate jewellery bills.

What Could Spoil Dhanteras Sales

Risk	Why it matters
Inflation	Rokde said high inflation from geopolitical tensions could weigh on consumer sentiment
Regional stress	He also flagged drought-like conditions in Maharashtra
Rupee	A weaker rupee lifts domestic gold prices, as Shah noted
Affordability	Lower prices have helped sentiment, but many households still find gold expensive
Market mood	A sharp global selloff could cool risk appetite

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Listed Jewellers to Track on Dhanteras

Company	Latest price found	Note
Titan Company	Rs 4,987.80 at 11:02 AM IST on 6 November	Reported Q2 profit of Rs 2,393 crore
Kalyan Jewellers	Rs 585.90 at 10:38 AM IST on 6 November	Closed Rs 560 on 5 November
Senco Gold	Rs 304.60 on the morning of 4 November	Not a same-day price

Stock prices depend on earnings, margins and gold prices as much as on festival Dhanteras sales, so a good festival does not guarantee a higher share price. Our jewellery stocks article covers the brokerage views.

Buying Gold Coins and Bars: What to Check

Check	Why
Purity and certificate	Confirm the purity stated on the coin or bar
Premium and invoice	Compare the premium over the gold price across sellers and keep the bill
Buyback terms	Ask how the seller values the coin or bar on resale
Storage	Plan a safe place, since you hold the metal yourself

Conclusion

Dhanteras sales this year are expected to be higher in value than volume, and gold coins and bars are set to lead as buyers use the price fall to add gold. Check purity and premiums, and decide your gold share before the festival rush.

Frequently Asked Questions on Dhanteras Sales

How much will Dhanteras sales rise in 2026?

Ans. Jewellers expect Dhanteras sales to rise 15% to 30% in value, according to press reports. GJC vice chairman Avinash Gupta sees 15% to 20% growth. These are industry expectations, not final numbers, which come after the festival.

Will sales volumes rise this Dhanteras?

Ans. Jewellers expect volumes to stay largely flat year on year, per GJC chairman Rajesh Rokde. One jeweller expects a volume decline of about 10% because of the rupee-dollar rate.

Why are gold coins and bars expected to lead Dhanteras sales?

Ans. Investment sentiment and gifting traditions favour them, and they avoid the making charges that jewellery carries. Last year too, coins and bars sold strongly while jewellery demand fell nearly 30%, per a Reuters report.

Is gold priced lower this Dhanteras than last year?

Ans. Gold is more than 20% below its January peak, but it is still about 12% higher than around last year's Dhanteras by my arithmetic, using different quote bases. So the fall helps sentiment without taking gold below last year's level.

What is the gold price on Dhanteras 2026?

Ans. A Livemint report put domestic gold near Rs 1,42,000 per 10 grams, and MCX December gold traded near Rs 1,42,450 on 6 November. Retail rates differ by city and jeweller, so check a live quote before buying.

Is it better to buy gold coins and bars or jewellery?

Ans. It depends on the purpose. Gold coins and bars usually carry smaller premiums and suit investment, while jewellery suits wearing and carries making charges of about 10% to 20% or more. Univest cannot give personal advice.

What could hurt Dhanteras sales?

Ans. Jewellers named inflation from geopolitical tensions and drought-like conditions in Maharashtra, and one pointed to the rupee-dollar rate. Weak sentiment and affordability can also limit volumes.

Do jewellery stocks rise when Dhanteras sales are strong?

Ans. Not always. Share prices depend on earnings, margins, gold prices and market conditions. Check company results and valuations, and consult a SEBI-registered adviser before investing.