As the Dhanteras and Diwali festivities approach, gold and silver prices in India could see an increase, diverging from the usual post-Navratri decline, according to representatives from the jewellery market. This potential rise in prices is attributed to global economic uncertainty, geopolitical tensions, and continued central bank purchases, which are expected to bolster bullion prices in the near term.
Over the past weekend, gold was priced at ₹1,50,700 per 10 grams, while silver was at ₹2,18,000 per kilogram. The year has witnessed significant price fluctuations for these metals, beginning with a sharp rally in March before a decline. Gold’s price surged from ₹1,37,120 per 10 grams at the start of the year to ₹1,67,275 in March, while silver climbed from ₹2,38,000 per kilogram in January to ₹2,95,000 in March. Despite this volatility, market conditions suggest a potential upward trend during the festive season.
Market analysts highlight that factors such as inflation concerns, economic slowdown, and financial market fluctuations have led investors to consider gold as a safe-haven asset. Traditionally, gold and silver prices peak around Navratri and then decline during Dhanteras; however, this year, strong festive demand combined with international market developments could maintain or even elevate prices after Diwali.
Experts caution that bullion prices remain highly sensitive to global market conditions, currency movements, and investor demand. Therefore, buyers should keep a close watch on these fluctuations before making purchasing decisions. This season’s unique market dynamics underscore the importance of staying informed about price trends amid global economic challenges.