This year, the auspicious 'Dhanteras' has spelt 'Gold Rush' for gold, gems and jewellery traders with huge crowds thronging retail outlets for festive season purchases, industry players said on Friday.

"This is despite the fact that the gold prices are around Rs 30,450/10 gms (per tola) compared to Rs 25,450/10 gms on Dhanteras last year (2015)," said Mumbai Jewellers Association Vice President Surinder Kumar Jain.