Gold Rush and Traffic Jams Mark Dhanteras in Hyderabad

Traffic came to a standstill in Hyderabad on Friday afternoon as crowds flocked to the jewellery shopping hub in Panjagutta for Dhanteras. Police officers reported managing heavy vehicle movement and poor parking behavior since 11 a.m. The gridlock backed up all the way to Srinagar Colony. Road construction added to the trouble. Ongoing flyover work toward KBR Park and barricades placed between Almond House and Sagar Society slowed down vehicles from SNT Junction to Sagar Society. The Hyderabad Traffic Police urged commuters to proceed with caution through social media posts at 3:54 p.m. on November 6, 2026.

Market Response

Despite the heavy crowds on the streets, jewellers reported that actual sales failed to meet expectations. Parasmal Ranka, president of the Telangana Pawn Brokers & Jewellers Association who owns a shop in the Ghasmandi area of Secunderabad, stated that sales were only just about okay and did not match the figures from last year. Gold prices have dropped significantly over the past month. A tola of 24-carat gold cost ₹1,43,460 on November 6, down from a high of ₹1,75,231 on January 29, 2026. Prices had hit a low of ₹1,33,880 on November 1, though this remained higher than the ₹1,20,020 recorded in November 2025. Meanwhile, the Confederation of All India Traders stated that festival purchases across the country are expected to generate over ₹1 lakh crore in business.

Context

Dhanteras marks the beginning of Diwali celebrations and is traditionally considered one of the most auspicious days of the year to buy gold, silver, and utensils. This heavy buying push often causes major traffic congestion around traditional commercial marketplaces in major Indian cities. Retail jewellery associations frequently track these seasonal spikes to gauge broader consumer spending habits during the festive period.