Indians buy 52 tonnes of gold as prices fall from Rs 1.8 lakh peak to Rs 1.42 lakh

The festival calendar also worked in favour of jewellery purchases. Dhanteras was observed on November 6, followed by Diwali on November 8. Both occasions fell in the early part of the month, when salaried employees typically receive their monthly pay and festive bonuses. In the current fiscal year through September, gold sales by volume declined by nearly 50%.