Gold and silver prices strongly recovered in India ahead of the Dhanteras festival, driven by renewed domestic demand and a weaker US dollar. In Delhi, gold surged to Rs 1,46,600 per 10 grams, while silver reached Rs 1.93 lakh per kilogram.
Gold and silver prices witnessed a strong recovery in the domestic market on Wednesday, November 4, ahead of the Dhanteras shopping season. Renewed festive demand and a rebound in international bullion prices supported the recovery, bringing precious metals back into focus for investors and jewellery buyers.
In Delhi, gold of 99.9% purity surged by Rs 4,800 to Rs 1,46,600 per 10 grams, inclusive of taxes. Silver also registered a sharp rally, climbing Rs 9,000 to Rs 1.93 lakh per kg. The gains came after gold and silver had witnessed considerable corrections in recent months.
In Bengaluru, 22-carat gold closed at Rs 13,210 per gram, while 24-carat gold was priced at Rs 14,410 per gram. Silver ended the session at Rs 1,92,600 per kg. Chennai also recorded strong bullion rates, with 22-carat gold at Rs 13,100 per gram and silver at Rs 210 per gram.
Gold and silver rates today, November 5
| City | 22K Gold (10g) | 24K Gold (10g) | Silver (1kg) |
| Delhi | Rs 1,32,800 | Rs 1,44,836 | Rs 1,90,887 |
| Mumbai | Rs 1,32,619 | Rs 1,44,781 | Rs 1,90,812 |
| Kolkata | Rs 1,32,440 | Rs 1,44,580 | Rs 1,90,912 |
| Chennai | Rs 1,32,880 | Rs 1,45,070 | Rs 1,90,912 |
| Bengaluru | Rs 1,32,790 | Rs 1,44,970 | Rs 1,90,972 |
| Hyderabad | Rs 1,32,850 | Rs 1,44,860 | Rs 1,90,847 |
Internationally, gold prices received support from a weaker US dollar and falling Treasury yields. However, the metal's traditional safe-haven appeal remains under scrutiny amid market volatility and changing investor preferences.
The recent correction has also encouraged investors to increase their exposure to gold-backed exchange-traded funds (ETFs). Their assets under management rose to Rs 1.91 lakh crore in October from Rs 1.58 lakh crore in April.
Jewellers are optimistic about the upcoming Dhanteras buying season. All India Gem and Jewellery Domestic Council Chairman Rajesh Rokde told PTI that sales value could increase by 20-30%, even as sales volumes are expected to remain largely flat compared with last year.
"However, high inflation, driven by geopolitical tensions, and the drought-like situation in Maharashtra could weigh on consumer sentiment. We are expecting flat growth in terms of volume compared to last year," Rokde said.
Dhanteras falls on November 6, making the coming days important for jewellery retailers and consumers planning festive purchases.
