Tirupati Families Keeping Dhanteras Tradition Alive Despite High Gold Rates
Despite record prices, people buy small gold and silver items to keep the tradition alive
Tirupati: Residents of Tirupati are gearing up to celebrate Dhanteras, also called Dhanatrayodashi, with devotion and enthusiasm on Saturday, observing the age-old tradition of welcoming Goddess Lakshmi.
Markets, such as Chinna Bazar Street, Gandhi Road, Prakasam Road and Mosque Road, are witnessing brisk activity, with jewellery stores displaying new designs, offering discounts on making charges, and extending festive offers.
Despite record-high gold prices, Tirupati residents are continuing their traditional Dhanteras purchases. Large showrooms and small neighbourhood jewellers are reporting steady footfalls throughout the day.
Many shoppers have bought coins, small ornaments, and silver articles, even as gold is around Rs 11,670 per gram for 22-carat and silver touched Rs 1.85 lakh per kilogramme.
“Even though rates are high, buying at least a small coin or ring for Dhanteras gives us peace of mind,” said R. Shilpa, a homemaker from Tirupati, after purchasing a gold coin.
Jewellery outlets have adopted various strategies to draw customers, including reduced making charges and exchange schemes. Many buyers are opting for lightweight jewellery, 18-carat gold and coins to manage expenses. “People’s attachment to gold is continuing, though they are adjusting to the current rates by choosing smaller or lighter pieces,” said K. Praveen, manager of a jewellery showroom on Mosque Road.
Traders expect that while the quantity of gold sold this year will be lower than last year, overall sales value will remain almost the same due to the surge in prices.
According to State Gold and Silver Merchants Association vice president K.V. Satyanarayana, gold prices have risen nearly 48 per cent over the past year, influenced by international market trends and the rupee’s depreciation.
“Buyers are increasingly viewing gold as a long-term investment. Some are purchasing coins, biscuits or bars, while others are showing interest in hallmarked 18-carat and 14-carat ornaments, which offer better affordability and purity assurance,” he stated.
Apart from physical purchases, banks and digital platforms are reporting a noticeable increase in gold ETFs and digital gold transactions, especially among younger buyers.
In rural areas around Tirupati, smaller purchases of coins and silver items are marking festive spirit, keeping the centuries-old Dhanatrayodashi tradition alive across all sections of society.
