Gold and silver prices remained in focus on Friday, November 6, as India celebrated Dhanteras, one of the most important occasions for purchasing precious metals. Buyers across the country tracked bullion rates before visiting jewellery stores, even as prices remained below the record highs recorded earlier this year.
According to live market rates reported on Friday morning, 22-karat gold was priced at ₹13,401 per gram, while silver was quoted at ₹2,101 per 10 grams. Prices can vary across cities and jewellery retailers depending on local market conditions and applicable charges.
Gold Prices Remain Below January Record Highs
Gold prices have corrected significantly from their lifetime highs in January 2026, although they remain higher than the levels seen during last year’s festive season.
In Delhi, 24-karat gold prices declined to ₹1,48,800 per 10 grams on Thursday, November 5, inclusive of taxes. This was around 19% below the record price of ₹1,83,000 per 10 grams recorded on January 29.
Despite the correction, gold remained more expensive than on Dhanteras 2025, when its price stood at ₹1,32,400 per 10 grams.
Silver has experienced an even sharper correction. Its price declined around 52% from ₹4,04,500 per kilogram in January to ₹1,94,500 per kilogram. However, it continued to trade above its Dhanteras 2025 price of ₹1,70,000 per kilogram.
Jewellers Expect Strong Dhanteras Sales
The recent correction in gold prices is encouraging consumers to make purchases, according to industry representatives.
Sachin Jain, Regional CEO (India) at the World Gold Council, said families planning weddings over the next three to six months could bring forward their purchases to benefit from current prices. Demand is expected across jewellery, coins and bars.
Jewellers are also introducing promotional offers and schemes to attract festive buyers. Senco Gold Managing Director and CEO Suvankar Sen said the company is targeting growth of more than 20% during the festive season. He also highlighted growing demand for diamond jewellery, which he expects to increase by 25-30%.
Gold and Silver Demand Trends
The jewellery industry expects the value of gold and silver sales to rise by 20-30% on Dhanteras, although sales volumes may remain broadly unchanged compared with last year.
Avinash Gupta, Vice Chairman of the All India Gem and Jewellery Domestic Council, expects gold sales value to increase by 15-20%, with volumes remaining at last year’s level. Lightweight jewellery and 18-karat gold pieces are also gaining popularity as consumers look for more affordable options.
Silver is attracting younger buyers because of its relatively lower price and wider range of designs. Industry representatives expect silver sales value to increase by around 30%, while Gupta anticipates a 10% year-on-year rise in sales volumes.
What Could Affect Festive Buying?
Geopolitical tensions and inflationary pressures remain potential challenges for consumer sentiment. Drought-like conditions in Maharashtra could also affect spending in some markets.
With gold and silver still trading above their year-ago levels, buyers are balancing festive purchases against affordability. The recent price correction, however, has provided some relief and could support jewellery, coin and bar purchases during the Dhanteras and Diwali period.
