Gold and Silver Prices Crash After Diwali: Is It the Best Time to Buy?

After the record business of Rs 60 thousand crore on Diwali and Dhanteras, there is a relief news from the bullion market. A big fall has been recorded in the prices of gold and silver in major cities of the country.

Post Published By: DN Bureau

Updated : 9 November 2026, 12:03 PM IST

A decline in the prices of gold and silver was recorded across the country on the day after Diwali (Img: Pinterest)

Mumbai: Following the auspicious festivals of Diwali and Dhanteras, there is good news for customers in the bullion market. Amidst the festive fervor, a decline in the prices of gold and silver was recorded across the country on the day after Diwali. Notably, business during this year's Dhanteras surpassed expectations, bringing great cheer to bullion traders.

Significant Surge in Business During Dhanteras and Diwali

According to initial estimates, total gold sales across the country during this year's Dhanteras reached approximately Rs 60,000 crore. This represents an impressive 15 to 20 percent increase in sales value compared to last year. Furthermore, the silver market also witnessed a robust upturn with sales value rising by approximately 30 percent and sales volume increasing by 10 percent. In the preceding week, the price of gold had risen by about Rs 4,690, while the price of silver had increased by Rs 5,000 per kilogram.

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Trends in International Markets

The softening trend in the domestic market is linked to fluctuations in international markets. Currently, spot gold is trading at $4,065.63 per ounce in the global market, while the price of spot silver stands at $52.18 per ounce.

There is a slight variation in prices across major cities in the country:

Delhi: In the national capital, Delhi, the price of 24 carat gold is Rs143,590 per 10 grams, while 22 carat gold is being sold at Rs 131,740 per 10 grams.

Mumbai and Kolkata: In both these metropolitan cities, the price of 24 carat gold is recorded at Rs 143,560 per 10 grams, and the price of 22-carat gold at Rs 131,590 per 10 grams.

Chennai: In Chennai, a major city in South India, the price of 24 carat gold is Rs 143,340 per 10 grams, and the price of 22 carat gold is Rs 131,390 per 10 grams.

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Pune and Bengaluru: In these cities, much like in Mumbai, the price of 24 carat gold is Rs 143,560 per 10 grams, and the price of 22 carat gold is Rs 131,590 per 10 grams.

Gold prices in other select cities across the country.

In Delhi, Jaipur, Lucknow and Chandigarh, 22 carat gold is priced at Rs 1,31,740 per 10 grams, while 24 carat gold costs Rs 1,43,590. Mumbai, Kolkata and Hyderabad have recorded 22 carat gold prices of Rs 1,31,590 and 24 carat rates of Rs 1,43,560 per 10 grams. In Ahmedabad and Bhopal, 22 carat gold is available at Rs 1,31,640, while the 24 carat rate stands at Rs 1,43,610. Meanwhile, Chennai has comparatively lower rates, with 22 carat gold priced at Rs 1,31,390 and 24 carat gold at Rs 1,43,340 per 10 grams.

Softening in Silver Prices

Along with gold, there is good news today for those considering the purchase of silver. On the morning of November 9, the price of silver fell to 204,900 rupees per kilogram. This softening in prices, following the festive season, may provide some relief to ordinary consumers when purchasing precious metals.