Mumbaikars have purchased 55 kg of gold for Ganesh Chaturthi, 15 kg more than last year, driven by a positive market sentiment following a duty cut. The rise in gold offerings marks the beginning of the festive season and wedding season, with jewellery retailers seeing increased demand.
As Mumbaikars offered more gold necklaces, gold padukas and gold modaks to Lord Ganesha, industry insiders said it sets the tone for festive buying of gold in other parts of the country.\
In 2024, Anant Ambani gifted a 20-kg gold crown worth Rs 15 crore to the Lalbaugcha Raja idol. In 2021, a devotee offered a 5-kg gold mukut worth Rs 6 crore to the Shreemant Dagdushekh Halwai Ganpati temple in Pune.
Jewellery manufacturers indicated that there has been a substantial rise in order bookings from jewellery retailers who are gearing up for the festive and wedding season running through December.
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