Gold and silver prices fell on Dhanteras today. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold fell by ₹3,106 to around ₹1.41 lakh. One kilogram of silver became cheaper by ₹5,437, reaching ₹1.81 lakh. A day earlier, gold was priced at ₹1.44 lakh and silver at ₹1.87 lakh. Silver has become ₹49,000 cheaper this year.
Meanwhile, people reached several jewellers in Ahmedabad, Vadodara, Rajkot and Surat to buy gold and silver jewellery and bullion bars. Buyers are particularly enthusiastic this year as prices have fallen compared with last year.
In Surat, people are making purchases with proper planning instead of buying only token quantities. Shivani Neeraj Nanawala, a customer who came to shop, said, “Last year, prices were very high, so I bought only a token quantity. But this time, prices have fallen and come down, so I have made a more organised purchase. I have also made an advance booking and am making a planned purchase with the future in mind.”
‘Demand rises as gold and silver prices fall’
Deepakbhai Choksi of D. Khushalbhai Jewellers in Surat said that there had been a slowdown this year, resulting in low customer footfall, but people were buying as prices fell.
Gold prices have declined by approximately 25% and silver prices by up to approximately 50%. People had been waiting for prices to fall for a long time. The decline during Diwali has now prompted people to turn to buying.
People thronged AB Jewellers on Shivranjani in Ahmedabad to shop.
Rose gold is a favourite among youngsters in Rajkot
There is a festive shopping atmosphere in Rajkot’s jewellery market ahead of Dhanteras. People have been coming to buy gold as prices have fallen over the past month. Rose gold is a favourite among youngsters, while women are marking the auspicious occasion of Dhanteras by buying bracelets and chains in various designs.
Buying has already begun for the wedding season too
Mukeshbhai of Radhika Jewellers said that gold prices had fallen by around ₹10,000 this month. The current price is the lowest seen in the past eight to 10 months. People do make auspicious purchases on Dhanteras, but buying has also begun for the wedding season starting after Diwali.
Purchases may be lower than last year
Mukeshbhai further said that, based on what they have observed over the years, gold prices have increased slightly every year on average. However, prices rose significantly last year, and in partial terms, there has been a notable decline in gold prices over the past month.
Compared with the price around Diwali last year, prices are currently only 10% higher. It can be considered that the atmosphere during Dhanteras will be good, but compared with previous years, the pace is likely to be somewhat slower. Lower rainfall and wars at the international level, among other factors, are responsible for this. These factors could affect purchases by 100%.
‘I am happy to receive a chain as a gift from my daughters’
Jayshriben, who had come to buy gold, said that Dhanteras is an extremely joyful and special day for her. Lakshmi Puja is performed on this auspicious day, and it holds great significance.
On the occasion of Dhanteras, both her daughters bought a chain and presented it to her as a gift. She felt immense joy and happiness at receiving such a gift from her daughters. She expressed her heartfelt gratitude to both her daughters and conveyed her greetings of Jai Shri Krishna to everyone.
Women are buying gold and silver in Surat.
Bought jewellery after exchanging a gold coin
Alpesh Mansukhlal Popat, who had come to buy gold on the auspicious occasion of Dhanteras, said, “The atmosphere today is very festive, and I exchanged a gold coin and bought jewellery for my wife.”
According to astrology, buying gold on this day is considered highly auspicious, and he made the purchase with the same faith. Despite gold prices being higher than last year, he said he felt this was the right time to buy, as gold prices were likely to rise gradually if crude oil prices fell. He added that prices could perhaps be even higher than this next year.
‘Buying gold on Dhanteras is considered auspicious’
Keraviben, who had come to buy gold, said that buying gold on Dhanteras is considered auspicious and that gold is a symbol of Goddess Lakshmi. “I have come to Radhika Jewellers to buy gold for my sister-in-law.
We are buying a rose-gold bracelet here because the designs available here are also very good. It is necessary to buy gold during the festival. In these circumstances, the festival tradition is being maintained by making a slight adjustment to the weight or number of grams-in other words, by buying a smaller quantity of gold.”
There was barely any room to step inside jewellers’ shops in Vadodara.
Gold coins purchased for long-term investment
Gold and silver markets in Vadodara city have witnessed strong customer enthusiasm. Jewellers’ manager Nilesh Kadam said that an excellent response had also been received during Ravi Pushya Nakshatra earlier, and that the markets had been crowded with customers since morning on Dhanteras.
As the wedding season is currently under way, customers are buying traditional jewellery, while a significant number of people are also purchasing gold coins and bars for long-term investment.
The recent decline in gold prices, along with favourable global conditions, has made this a suitable time for investors. People are buying gold in larger quantities, anticipating that prices may rise in the future.
Considering gold a reliable asset during difficult times and the best support for family occasions, customers are making purchases, while the Jewellers family has extended heartfelt wishes to all customers on Dhanteras and the upcoming Diwali.
Buying lucky charms and rings to welcome Goddess Lakshmi into the home
Deep Rawal, who came to buy gold on Dhanteras, said in an interview that, following his ancestral tradition, he had come to buy lucky charms and rings to welcome Goddess Lakshmi into his home on Dhanteras. Regardless of fluctuations in gold prices, he continues to follow the tradition of bringing gold into the home on an auspicious day.