LUCKNOW A ₹ 2,800-crore shopping frenzy swept through the state capital’s markets on Friday as Dhanteras kicked off the five-day Diwali festivities, pushing overall festive trade up by 15% to 20% over last year. From packed heritage sarrafa lanes in Chowk to bustling automobile showrooms across the city, shoppers turned out in large numbers to bring home bullion, SUVs, utensils, and festive essentials.
With gold trading at ₹ 1,44,500 per 10 grams and silver at ₹ 1,92,000 per kg, buyers lapped up at least 40% more precious metal by volume than last year. Among the day’s showstoppers in the market was gold kundan students necklace bought for a whopping ₹ 16 lakh. About 1050 kg of silver worth ₹ 20.16 crore crore was sold, the maximum in 21 years in terms of quantity and business. It broke its previous highest record in terms of quantity (1000 kg sold in 2024) and in terms of business ( ₹ 14.54 crore recorded in 2025), shared senior vice president of Chowk Sarrafa Association Adesh Jain. “This year, gold broke all records in terms of business in the last 21 years. Silver broke all records in terms of business and quantity in the last 21 years. Idol sales grew by 30% this time, against 20% last year. Last year, the electronics market did business of ₹ 319 crore, this year with an increase of ₹ 31.9 crore, a total business of ₹ 350.9 crore was recorded,” he said.
A dip in precious metal prices compared to last Dhanteras proved to be the biggest crowd-puller at jewellery showrooms, triggering a massive surge in the weight of gold and silver bought. On the other hand, silver broke its own records for the fourth consecutive year. The utensils market also recorded brisk business throughout the day. Apart from Lakshmi-Ganesh idols, there was heavy demand for Kuber and Dhanvantari idols and brass tortoise for Vaastu and auspiciousness.
This is due to the dip in prices after the sudden upward shifts earlier from January to July this year,” he added. “However, due to an increase in rates, a 10% rise has been recorded in figures.
Trader Sachin Kohli said brass idols saw record business. Naka Vyapar Mandal president Pawan Manocha and Lucknow Electronics Vyapar Mandal president Bunty Abrol said there was no special growth in the electronics market this time; it remained at last year’s level.
“Sales this year increased by 15 to 20% compared to last year’s Dhanteras. Two-wheelers worth about ₹ 80 crore and four-wheelers worth ₹ 400 crore were sold, according to traders.
Clothing, electronics, cell phones, laptops, electric lights, dry fruits, sweets and bakery, puja material, furniture and gift items also had a brisk business,” said UP Adarsh Vyapar Mandal state president Sanjay Gupta.
