Festive Cheer Lights Up India’s Gold Sales on Key Buying Day
- Nation celebrates Dhanteras Tuesday ahead of Diwali this week
- Demand is rebounding after pandemic-related curbs ease
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Indians flocked to jewelry stores on Tuesday on the biggest gold-buying day of the year, with a bumper sales period for precious metals that culminates in the festival of Diwali expected for the first time since the pandemic began.
Dhanteras is traditionally seen as the most auspicious day in the Hindu calendar to buy gold, with many shops remaining open until midnight and jewelers offering discounts and gifts. Indians typically buy ornaments for marriage celebrations, and coins and bars for investment surge during a series of celebrations that culminates with Diwali, or the Festival of Lights, which falls on Thursday.