Indian consumers splurged an estimated Rs 1 lakh crore during Dhanteras this year, led by strong demand for gold and silver despite steep price hikes, a traders’ body said on Saturday. According to a report by news agency PTI, the Confederation of All India Traders (CAIT) estimated that bullion sales alone contributed around Rs 60,000 crore to the total festive spending, a 25% jump from last year, as buyers thronged jewellery markets even though gold prices surged nearly 60 per cent year-on-year to cross Rs 1.3 lakh per 10 grams.

“The past two days have seen an unprecedented rush in jewellery markets,” said Pankaj Arora, national president of CAIT’s jewellery chapter, the All India Jewellers and Goldsmith Federation. He added that Delhi’s bullion markets alone recorded sales exceeding Rs

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