In New Delhi, Indian consumers are estimated to have spent Rs 1 lakh crore during this year’s Dhanteras festival, largely due to strong purchases of gold and silver, according to a prominent traders’ organization. The Confederation of All India Traders (CAIT) reported that gold and silver sales alone contributed Rs 60,000 crore to this total, reflecting a 25 percent increase from the previous year. This surge occurred even as gold prices rose by 60 percent year-on-year, surpassing Rs 1,30,000 per 10 grams. Dhanteras, which falls on the thirteenth day of the Hindu month of Kartik, is regarded as an auspicious occasion for buying gold, silver, utensils, and other items that symbolize prosperity.
