Dhanteras Sparkle: Kolkata Jewellers See Surge in Gold and Silver Demand
Kolkata jewellers report a rise in footfall and demand for gold and silver coins this Dhanteras, with a shift toward lightweight jewellery.
The festive shopping season has kicked off with a glittering start in Kolkata, as Dhanteras gold silver demand witnessed a healthy spike. From traditional bullion to modern, versatile designs, the city's jewellery hubs have seen an uptick in customer footfall, signaling a prosperous beginning to the holiday festivities.
A Boost in Footfall and Traditional Purchases
Jewellers in the city are reporting a positive trend compared to previous years. Vinod Bamlwa, owner of Nemichand Bamalwa and Sons, noted that the market is currently in a healthy state, with a strong appetite for gold coins, silver coins, and bullion.
According to Bamlwa, there has been a noticeable increase in the number of customers visiting stores this year. He mentioned that the steady flow of shoppers has allowed for a more positive and relaxed shopping experience, further sustaining the festive enthusiasm among buyers.
The Shift Toward 'Smart' Jewellery
While traditional investments remain popular, a significant shift in preference is emerging among the younger generation. Working professionals who are preparing for weddings are no longer opting for heavy, cumbersome pieces that sit in lockers after the ceremony.
Instead, there is a growing demand for versatile jewellery that can be worn on various occasions beyond the wedding. This trend toward "smart decision-making" has led to the popularity of designs that provide a grand, heavy appearance while remaining lightweight.
Technology Driving Design
This evolution in style is being powered by advancements in manufacturing technology. Bamlwa explained that innovations such as laser soldering have revolutionized the process, reducing the amount of solder required and allowing for more intricate yet lighter pieces.
He highlighted that designs which previously required nearly 100 grams of gold can now be crafted in much lighter versions, making luxury more accessible and practical for the modern consumer.
Value Over Discounts
Dhanteras is traditionally viewed as a day to invite wealth and prosperity into the home. To encourage this, many stores are offering incentives. Nemichand Bamalwa and Sons, for instance, is providing discounts on making charges.
However, Bamlwa emphasized that the focus remains on "value for money" rather than mere discounts, ensuring that customers get the most out of their investment in precious metals.
A Massive National Windfall
The excitement in Kolkata mirrors a larger national trend. According to the Confederation of All India Traders (CAIT), the Dhanteras festival is expected to generate staggering business across India, with total projections exceeding Rs 1 lakh crore.
Of this total, sales of gold and silver alone are estimated to contribute over Rs 60,000 crore, as consumers across the country continue to invest in jewellery, traditional gifts, and silver coins to mark the auspicious occasion.