Jewellery Shops See Optimism Despite Surge in Gold and Silver Rates

Cuttack,23rd Oct 2025: Although people were hoping to buy more gold, silver, and precious metals on Dhanteras, Saturday’s sales did not meet expectations. Due to higher rates compared to last year, some traders said sales this year have dropped by about 15 percent compared to the previous year. However, since Sunday is also Dhanteras according to the calendar, jewelers are hopeful that sales will pick up on Sunday.

On Dhanteras, it is believed that buying gold, silver jewelry, and metals like brass brings the blessings of Goddess Lakshmi, along with wealth and good fortune. Every year, people eagerly wait for this day to purchase gold and silver. But due to the high prices this year, customer enthusiasm has somewhat diminished. Various jewelry businesses have offered discounts on making charges and some have waived these charges entirely, which customers have benefited from. Many customers have bought jewelry in new designs.

In the city, from afternoon till late evening, crowds were observed in various gold and silver jewelry showrooms. Women were seen eagerly selecting jewelry to buy. Sanjay Sahu, President of Odisha Jewellery Association, stated that within two days, silver prices have dropped by Rs12,000 from Rs1,87,000. Similarly, gold prices have fallen by ₹3,000. Nevertheless, compared to last year, business this year has decreased by around 15 to 20 percent.

Many people were also seen buying brooms on Dhanteras. Since brooms are believed to bring wealth as they symbolize Goddess Lakshmi, people buy brooms for good luck and prosperity even if they do not buy gold or silver. Large numbers of people were observed purchasing brooms. Along the roads of Dolmundai, Pithapur, and Bajrakabati, shops selling brooms were open and both men and women were buying them.

Due to the demand for brooms on Dhanteras, their prices have increased. The price for a single broom ranges from a minimum of Rs45 to a maximum of Rs100.

According to the calendar, Sunday is also Dhanteras, giving customers another opportunity to buy gold and silver. Traders are hopeful that business will improve then.