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Gold drops Rs 2,400 to Rs 1,32,400/10g on Dhanteras in Delhi markets
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....old drops Rs 2,400 to Rs 1,32,400/10g on Dhanteras in Delhi markets<BR>PTI News<BR>Dated:- 18-10-2025<BR>PTI<BR>New Delhi, Oct 18 (PTI) Gold prices retreated from record levels and dropped by Rs 2,400 to Rs 1,32,400 per 10 grams in the national capital on Saturday, even as buyers flocked to jewellery stores across the country on Dhanteras, marking the start of the Diwali festival. According to t....
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....he All India Sarafa Association, the precious metal of 99.9 per cent purity had surged by Rs 3,200 to touch an all-time high of Rs 1,34,800 per 10 grams on Friday. In the local bullion market, gold of 99.5 per cent purity also saw a sharp pullback, depreciating by Rs 2,400 to Rs 1,31,800 per 10 grams (inclusive of all taxes). It had touched a lifetime high of Rs 1,34,200 per 10 grams in the prev....
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....ious session. Prices of gold of 24 karat have risen Rs 51,000 per 10 grams, or 62.65 per cent, compared to Rs 81,400 per 10 grams recorded on Dhanteras last year, which was celebrated on October 29, 2024. Extending its losses for the second straight day, silver prices tumbled by Rs 7,000 to Rs 1,70,000 per kilogram (inclusive of all taxes) on Saturday. The white metal had closed at Rs 1,77,0....
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....00 per kg on Friday. Silver prices have gained Rs 70,300, or 70.51 per cent, from Rs 99,700 per kilogram recorded on last Dhanteras. Traders attributed the correction in bullion prices to weak global cues as investors booked profits after a steep rally. "The festive fervour of Dhanteras upheld its sheen with a robust turnaround by consumers to invest in the yellow metal. Irrespective of the ....
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....sky-high price of gold, favourable economic conditions and the GST reforms, there has been a tremendous response," Colin Shah, Managing Director of Kama Jewelry, said. He noted that a significant demand was seen among buyers for light-weight jewellery, especially in the younger age groups. Parallelly, bullion witnessed a major traction this season given the backdrop of soaring gold prices. "A ....
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....niche demand for heavy jewellery for the upcoming winter wedding season was observed, where buyers looked forward to locking in the current rate given the rapidly increasing price of yellow metal. "Overall, it was a phenomenal response this Dhanteras with an overall festive spike of 15 per cent to 18 per cent as compared to last year," Shah added. Culturally, gold remains woven into India's sp....
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....iritual and social fabric. Long before the advent of financial markets, Indians regarded gold as a safeguard against misfortune and a conduit for divine blessings, especially on days like Dhanteras, tied to Goddess Lakshmi and prosperity. Indian consumers spent an estimated Rs 1 lakh crore during the Dhanteras festival this year, driven by robust gold and silver purchases despite sharp price inc....
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....reases, a leading traders' body said on Saturday. Meanwhile, traders' lobby the Confederation of All India Traders (CAIT) said gold and silver sales alone accounted for Rs 60,000 crore of the total, marking a 25 per cent increase from last year, as shoppers flocked to bullion markets despite gold prices surging 60 per cent year-on-year to cross Rs 1,30,000 per 10 grams. "The past two days have....
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.... seen an unprecedented rush in jewellery markets," said Pankaj Arora, national president of CAIT's jewellery chapter, the All India Jewellers and Goldsmith Federation. Meanwhile, Delhi's bullion markets recorded sales exceeding Rs 10,000 crore, he said in a statement. Inderbir Singh Jolly, CEO of PL Wealth Management, said from a financial lens, gold continues to benefit from multiple tailwind....
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....s such as a weaker dollar, expectations of rate cuts by the US Federal Reserve, and sustained central bank accumulation. "India's investment share of gold demand is rising, with buyers gravitating toward coins and bars over expensive jewellery as fabrication costs bite," he said. In the international markets, spot gold touched a lifetime high of USD 4,379.44 per ounce on Friday before slipping....
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.... 1.76 per cent to close at USD 4,249.98 per ounce as investors took profits. "Globally, spot gold breached USD 4,300 per ounce, logging its biggest weekly gain in nearly two decades. In the domestic markets, prices have climbed, with premiums surging to Rs 782 per 10 grams, its steepest in over a decade," Jolly noted. Spot silver, too, declined 4.36 per cent to settle at USD 51.90 per ounce on....
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.... Friday after hitting a record of USD 54.49 per ounce earlier in the session. "The precious metal rates in the country are rising sharply with the festive season (Dhanteras and Diwali) and domestic demand geared up. The auspicious festive time during October 29, 2024, Dhanteras witnessed sales volume close to 25-30 tonnes. "Despite the lower quantity, the sales value in monetary terms saw an a....
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....pprox. 12-18 per cent surge. Consumers have adapted to buying design-rich ornaments and lightweight buying with smaller items like gold coins due to record high prices," N S Ramaswamy, Head of Commodities & CRM, Ventura, said. PTI HG HVA<BR> News - Press release - PIB....