A treat for shoppers on Dhanteras: gold and silver prices fall
Business: There is welcome news for those planning to purchase gold and silver for Dhanteras. On Friday, November 6, 2026, a significant decline in the prices of both precious metals was recorded in the domestic market. On the Multi Commodity Exchange (MCX), the futures price of gold dropped by more than ₹2,600 per 10 grams during trading. Meanwhile, the futures price of silver saw a decline of over ₹4,500 per kilogram. In the retail market as well, silver has become cheaper by approximately ₹5,000 per kilogram. This drop in prices during the festive season has brought some relief to buyers.
Purchasing gold and silver on Dhanteras is considered auspicious. This is why, every year, bullion markets see a surge in the number of customers on this occasion. Depending on their financial capacity, people buy items such as gold coins, silver utensils, jewelry, and other precious goods. This year, the decline in prices on the occasion of Dhanteras has drawn the attention of customers.
On Friday, gold for December delivery opened at ₹1,42,161 per 10 grams on the MCX. In the previous trading session, it had closed at ₹1,44,095. Thus, in early trading alone, the price of gold fell by ₹1,934 per 10 grams. During the course of trading, the decline extended to ₹2,651—a drop of approximately 1.83 percent. At 12:43 PM, the futures price of gold was recorded at ₹1,41,644 per 10 grams. At that time, gold was trading ₹2,451—or about 1.70 percent—lower than its previous closing price. However, these are futures market prices; the price of gold at jewelry stores may differ. Along with gold, a significant decline was also recorded in the prices of silver. On the MCX, the previous closing price for silver (for December delivery) was ₹1,87,140 per kilogram. It opened at ₹1,85,499 on Friday. Subsequently, during trading, the price of silver fell to ₹1,82,585 per kilogram—a decrease of ₹4,555 from the previous closing price. In afternoon trading, the futures price of silver was recorded at around ₹1,83,358 per kilogram, which was ₹3,782 lower than the previous close. Overall, silver saw a decline of approximately 2.02 percent.
In the retail market, according to the price-tracking website ‘Goodreturns’, the price of 999-purity silver stood at approximately ₹2,05,000 per kilogram on Friday—about ₹5,000 lower than the previous day. For those planning purchases on Dhanteras, it is also important to understand gold pricing based on purity; 24-karat gold is considered the purest, while 22-karat gold is typically used for making jewellery.
Based on the indicative retail rates available for November 6, the prices of gold in major cities were as follows: City | 24-Carat Gold (10 grams) | 22-Carat Gold (10 grams)
Delhi | ₹1,46,180 | ₹1,34,010
Mumbai | ₹1,46,030 | ₹1,33,860
Kolkata | ₹1,46,030 | ₹1,33,860
Chennai | ₹1,46,030 | ₹1,33,860
Bengaluru | ₹1,46,030 | ₹1,33,860
Hyderabad | ₹1,46,030 | ₹1,33,860
Ahmedabad | ₹1,46,080 | ₹1,33,910
Pune | ₹1,46,030 | ₹1,33,860
These are indicative retail rates. They do not include GST or jewellery-making charges. Final prices may vary across different bullion establishments. In Raipur, the capital of Chhattisgarh, the bullion markets are buzzing with activity ahead of Dhanteras. According to local market reports, the price of 24-carat gold is approximately ₹1,46,692 per 10 grams, while 22-carat gold is priced at around ₹1,34,370 per 10 grams. However, local rates may vary depending on the time and the specific establishment.
There is great enthusiasm for festive shopping in Raipur’s Sadar Bazaar, Gol Bazaar, and other major commercial areas. Jewellers have introduced a wide variety of designs and special offers for customers. Market experts note that fluctuations in international gold and silver prices are impacting the domestic market. Factors such as the strength of the US dollar, bond yields, expectations regarding interest rates, and global economic conditions all influence the prices of precious metals. On Friday, gold and silver also faced pressure in the international market. According to market reports, the price of gold on COMEX fell to approximately $4,051.40 per ounce, while silver was recorded at around $51.26 per ounce. Profit-booking following Thursday’s rally is also considered a contributing factor to the decline in prices on Friday. Customers planning to purchase jewelry for Dhanteras should not determine the final cost based solely on the price of gold. When buying jewelry, additional costs such as making charges, GST, and other applicable levies are added; consequently, the total amount payable at the store is higher than the base price of the gold itself. For instance, if the base price of 22-carat gold is ₹1,33,860 per 10 grams, the final price will be higher once the making charges and taxes are included. Therefore, it is advisable to obtain a clear breakdown of all charges from the jeweler before making a purchase.
Furthermore, when buying gold jewelry, one should check for the BIS hallmark and the HUID (Hallmark Unique Identification) number. Customers should also ensure they receive a formal, valid invoice (a ‘pakka bill’) to avoid any complications if they decide to sell or exchange the jewelry in the future. Those purchasing silver should also verify its purity and weight. For items such as coins, idols, and decorative objects, the price may include manufacturing or crafting charges in addition to the intrinsic value of the metal.