Jewellery retailers across India have reported strong footfall during Dhanteras week, with physical gold sales estimated up 18% year-on-year. Retailers say stable prices and improved consumer confidence drove the momentum, especially in metros and Tier-2 towns. Lightweight jewellery and hallmark-certified bars are leading demand, reflecting urban affordability trends. The surge also highlights a return to tangible assets after two years of muted spending, supporting the broader gold ecosystem including refiners and logistics players.