Dhanteras delight: Gold and Silver prices take off! Check current prices

New Delhi (The Uttam Hindu): There is good news for customers planning to buy gold and silver for Diwali. On Dhanteras (October 18), there was a big drop in the price of gold, bringing the gold rate down by Rs 2400 per 10 grams. Today, i.e. Choti Diwali (October 19), being a Sunday, there will be no change in the prices. Therefore, customers still have the opportunity to buy gold at a slightly cheaper rate. The price of gold will remain stable at Rs 1,32,400 per 10 grams today.

According to the Indian Bullion and Jewelers Association (IBJA), gold with 99.9 percent purity jumped by ₹3,200 to a record high a day before Dhanteras. However, it fell sharply on October 18th as investors booked profits. The price of 99.5 percent pure gold in the Delhi bullion market has now reached ₹1,31,800 per 10 grams.

Silver prices have also been falling for the past two days. On October 18th, silver fell by ₹7,000 to ₹170,000 per kg.

Although this is a recent decline, gold and silver prices are skyrocketing compared to a year ago. Last year, on Dhanteras, October 29, 2024, the price of 24-carat gold was ₹81,400 per tola. Accordingly, the price of gold has increased by ₹51,000, or 63%, in a single year. Meanwhile, the price of silver, which was ₹99,700 per kg a year ago, has now increased by ₹70,300 (70%).

Despite record-high prices, shoppers remained enthusiastic on Dhanteras. The upcoming wedding season and attractive offers from jewelers attracted customers, leading to a surge in activity in areas like Chandni Chowk and Sadar Bazaar.

This Dhanteras, demand for silver surpassed gold. Sales of silver coins increased by 35 to 40 percent year-on-year, while gold purchases declined by 15 percent. Experts estimate that gold and silver sales could exceed ₹50,000 crore over the five days of Diwali.