Gold Shines On Dhanteras As Prices Touch Rs 1.48 Lakh In Delhi

Representative photo: Gold jewellery on display at a jewellery store. (Photo: Pexels / Meruyert Gonullu)

Dhanteras arrived in India on Friday with glittering queues outside jewellery stores and a price tag that tells the story of a remarkable year for gold. In Delhi, 24-carat gold of 99.9 per cent purity was selling at Rs 1,48,800 per 10 grams, inclusive of all taxes — up Rs 2,200 in a single day as jewellers and retailers stocked up ahead of the festival.

Dhanteras, which marks the beginning of the five-day Diwali festival, is considered the most auspicious day in the Hindu calendar to buy precious metals. This year it falls on Friday, November 6, with Diwali itself on Sunday. For millions of families, a small gold coin or a piece of jewellery bought today is both a blessing and an investment.

Prices Off The Peak, But Still Far Above Last Year

The festive rally comes with an important twist: gold is actually cheaper than it was at its peak. The metal had touched a record Rs 1,83,000 per 10 grams on January 29 this year, which means today's Delhi price is about 19 per cent below that high.

Even so, buyers are paying much more than they did a year ago. On Dhanteras last year, celebrated on October 18, gold was priced at Rs 1,32,400 per 10 grams. That is a rise of roughly 13 per cent in twelve months — a return that has comfortably beaten most traditional savings options in a volatile year.

Silver tells a similar story of a sharp correction. It was trading around Rs 1,94,500 per kg, down sharply from its January peak, even as jewellers report strong festive demand for silver coins and utensils as well.

Jewellers Expect A Strong Day Of Sales

Despite the high prices, jewellers are expecting a busy Dhanteras. The All India Gem and Jewellery Domestic Council says gold and silver sales could rise 20 to 30 per cent in value terms compared with last year, helped by the recent correction from January's highs.

"The festival's timing could also help," traders note — with Dhanteras falling early in the month, on November 6, most consumers have their salaries in hand when they walk into the store. The World Gold Council agrees, saying the recent correction in prices should support sales during the festive season.

The Confederation of All India Traders estimates that trade worth around Rs 60,000 crore could be generated across India on Dhanteras alone, as shoppers buy gold, silver, utensils, electronics and vehicles.

What Buyers Should Know Before They Shop

For those heading out to buy today, the indicative rates are worth keeping in mind. Apart from the Delhi bullion market rate of Rs 1,48,800 per 10 grams for 24-carat gold, indicative retail benchmarks put 24-carat gold at about Rs 14,603 per gram, 22-carat at Rs 13,386 per gram and 18-carat at Rs 10,953 per gram. Rates vary slightly from city to city and jeweller to jeweller.

Experts also advise buyers to check hallmarking, making charges and the buyback policy before paying. Making charges can add 12 per cent or more to the cost of a piece of jewellery, so two shops selling at the same gold rate can still quote very different final prices.

On the global front, spot gold was hovering near 4,060 US dollars per ounce in early Friday trade, after crossing 4,100 dollars a day earlier. Analysts link the recent moves to the weaker dollar and lower US bond yields after the US midterm elections.

Conclusion

Dhanteras 2026 has given Indian shoppers a rare combination — prices well below the year's peak, yet high enough to remind everyone that gold has been one of the strongest performers of the year. Whether it is a tiny coin for good luck or a necklace for the family, the yellow metal remains at the heart of the festival.

Are you buying gold this Dhanteras, or waiting for prices to fall further?