Dhanteras gold: price rises ₹2,200 to ₹1,48,800 in Delhi; jewellers expect sales up 20-30% in value

Gold rose by ₹2,200 to ₹1,48,800 for 10 grams in Delhi on Thursday, 5 November, with jewellers and wholesale stockists stocking up on the eve of Dhanteras, the All India Sarafa Association said. Silver gained ₹1,500 to ₹1,94,500 per kg. On Wednesday the two metals had closed at ₹1,46,600 and ₹1,93,000. The trade expects Dhanteras gold and silver takings to climb by 20 to 30 per cent in value, though not in weight.

That forecast came from Rajesh Rokde, who heads the All India Gem and Jewellery Domestic Council (GJC). He said volumes were likely to stay at last year’s level as buyers pick lighter jewellery and smaller pieces. He added that the date works in the trade’s favour: with Dhanteras on 6 November, early in the month, salaries have just been paid.

Down from January, up on last Dhanteras

Thursday’s gold price is 19 per cent below the record ₹1,83,000 set on 29 January 2026, and silver is 52 per cent below its peak of ₹4,04,500 on the same day. Both still cost more than on Dhanteras last year, on 18 October 2025, when 10 grams of gold cost ₹1,32,400 and a kilo of silver ₹1,70,000.

GJC vice-chairman Avinash Gupta put value growth in gold at 15 to 20 per cent with flat volumes, and expects silver volumes to climb about 10 per cent after the price fall. Families, he said, are buying gold for the main wedding ceremony and silver for other rituals, and even bridal sets are moving to 18-carat gold. Sachin Jain, regional chief executive for India at the World Gold Council, said households with a wedding coming up within three to six months could bring their purchases forward at these prices.

Not everyone is as upbeat. Colin Shah, founder of Kama Jewelry, expects value to match last year and volumes to fall by about 10 per cent. Rokde warned that high inflation, geopolitical tension and Maharashtra’s drought-like spell may still keep some buyers away.

Overseas, spot gold gained almost 2 per cent on Thursday, ending at $4,125.25 an ounce, while silver added about 1 per cent at $52.73. Lakshmi Puja follows on Sunday, 8 November.