On the eve of Dhanteras 2025, gold in India surged to ₹1,34,800 per 10 grams (inclusive of GST) — a nearly 39 % increase year-on-year. Silver, after peaking around ₹1,76,000 per kg, corrected to about ₹1,69,230 per kg, up ~81 % year-on-year. Although high prices may trim volume sales by 15-20 %, value sales are expected to rise ~25 % as consumers shift to lightweight jewellery and investment coins. Retailers remain upbeat for the festive season despite headwinds from elevated valuations.