Gold and silver prices in India are expected to rise during the Dhanteras and Diwali festivities, according to market representatives, diverging from the usual trend of price declines after Navratri. Over the weekend, gold was priced at ₹1,50,700 per 10 grams, and silver stood at ₹2,18,000 per kilogram. Prices have exhibited significant fluctuations this year, with gold starting at ₹1,37,120 per 10 grams in January, peaking at ₹1,67,275 in March, while silver rose from ₹2,38,000 per kilogram to ₹2,95,000 in the same period.
Market experts attribute the potential price increase to global economic uncertainty, geopolitical tensions, and sustained purchases by central banks, which are likely to support bullion prices in the coming weeks. Additionally, concerns about inflation, economic slowdown, and volatility in financial markets are prompting investors to view gold as a safe-haven asset.
Jewellers have noted that the traditional pattern of prices peaking around Navratri before declining during Dhanteras may not apply this year. Strong festive demand, coupled with developments in the international market, could maintain or even elevate prices after Diwali. However, bullion prices are still sensitive to global market conditions, currency fluctuations, and investor demand.
With these factors in play, buyers are advised to closely monitor price movements before making purchasing decisions, as the market remains unpredictable amid current global uncertainties.