Dussehra 2025: Mumbai Gold Market To See Record Sales Despite Soaring Prices

Even though the price of gold has reached ₹1.22 lakh per tola, signs point to a strong surge in gold purchases on Dussehra, which is considered one of the most auspicious days among the three-and-a-half *muhurats*. With the wedding season approaching, the market is already witnessing a rush to buy gold jewellery on this festive occasion. Traditionally, people exchange Apta leaves as symbolic “gold” on Dussehra, but many also prefer to buy real gold. Despite record-high rates this year, jewellers say that purchases are unlikely to be affected. An estimated turnover of at least ₹2,300 crore is expected on Dussehra. Mumbai’s Zaveri Bazaar, the hub of the gold market, accounts for 60% of the country’s total trade. On regular days, sales average around 200 kg, but during festivals, they soar to about 1,200 kg. On Gudi Padwa, sales touched 1,500 kg, and on Dussehra they are expected to rise by another 25%, reaching nearly 1,900 kg. While it was predicted that soaring gold prices would discourage buyers, the reality seems different. In fact, with prices climbing higher, customers are viewing gold as a sound investment, further boosting demand on this festive day.

For weddings, the purchase of a *mangalsutra* has always held special importance, while other ornaments such as earrings, nose rings, bangles, and *patlya* (traditional bangles) are usually bought separately. However, due to high gold prices this year, buyers are opting for jewellery sets that include the *mangalsutra* along with earrings, bangles, and a nose ring. These sets attract relatively lower making charges, offering customers some relief amid rising costs, according to jewellers.

Apart from gold, Dussehra is also considered an auspicious time to purchase electrical appliances. Ahead of the festival, retailers prepare with special offers, though this year such deals are limited, and the crowd in the market is somewhat mixed. Demand is stronger for mobile handsets and small household appliances, while big-ticket items such as large appliances are receiving less attention from buyers.

The vehicle market, on the other hand, is buzzing with activity. The reduction in GST on vehicles has significantly boosted sales. After a robust Navratri season, many eager buyers are now rushing to bring home new vehicles on Vijayadashami. Customers are pressing dealers to ensure delivery of their chosen vehicle specifically on this auspicious day. Interestingly, companies are also dispatching vehicles in large numbers to meet the surge in festive demand. Some buyers are also showing preference for reserving their vehicles on Dussehra, adding to the festive rush.