New Delhi, Oct. 19 -- Indian consumers went on a spree on Dhanteras this year, spending Rs.1 lakh crore in total, driven by high rates of gold and silver prices purchases despite their steep price increase.

According to Confederation of All India Traders (CAIT), gold and silver prices accounted for Rs.60,000 crore of the total sale, which is an increase of 25 per cent as compared to last year, as buyers rushed to purchase the precious metals.

The gold and silver buying spree on Dhanteras came despite gold prices increased to Rs.1,30,000 per 10 gram.

"The past two days have seen an unprecedented rush in jewellery markets," said Pankaj Arora, national president of All India Jewellers and Goldsmith Federation, which is CAIT's jewellery wi...