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Gold and silver prices remain in focus as buyers prepare for festive purchases during Navratri 2026 (Img: Pinterest)
Mumbai: Gold and silver prices remain in focus as festive buying picks up during Navratri. With gold near Rs 1.5 lakh per 10 grams and silver above Rs 2 lakh per kg buyers are weighing market trends before making purchases.
Gold and silver buyers are entering the festive season amid elevated prices and an uncertain market outlook. However, the high cost of bullion is prompting consumers to consider their budgets and the timing of their purchases.
In Delhi, the indicative retail price of 24-carat gold stood at Rs 1,51,570 per 10 grams on October 12 while 22-carat gold was priced at Rs 1,38,950 per 10 grams. The rate for 18-carat gold was Rs 1,13,720 per 10 grams.
Silver prices also declined on October 12. According to the reports, silver fell by Rs 2,000 to Rs 2,26,500 per kg , inclusive of taxes. Actual retail prices may differ across cities and jewellery stores.
International market developments continue to influence the domestic bullion market. A stronger US dollar and changing expectations around the US Federal Reserve's interest rate decisions have put pressure on gold prices.
Investors are also monitoring inflation data from the United States for clues about the future direction of interest rates. Higher interest rates can make investments that offer returns more attractive compared with gold which does not generate interest income.
Currency movements are another important factor for Indian consumers. Since India imports a substantial share of its gold, a weaker rupee can increase domestic prices even when international prices remain relatively stable. Import duties, taxes and local demand can further affect the final price paid by buyers.
Silver prices are influenced by a different mix of factors. Besides its role as a precious metal, silver is widely used in industrial applications. Changes in manufacturing activity and industrial demand can therefore contribute to price fluctuations.
For consumers planning to purchase jewellery, coins or other gold items for festive occasions, predicting the exact market bottom can be difficult. Prices may fall further after a purchase but they can also rise if market conditions change.
One approach is to divide the planned purchase into smaller amounts over a period rather than committing the entire budget on a single day. This can help buyers avoid relying entirely on one day's price provided the strategy suits their financial situation.
Consumers should also compare jewellery prices, making charges, purity certification and buyback policies before making a decision. The final bill can vary significantly between jewellers, even when the underlying gold rate is similar.
People buying gold primarily for investment purposes should assess their existing holdings, investment horizon and liquidity needs. Gold can help diversify a portfolio, but its prices can fluctuate, and returns are not guaranteed.
Digital gold may offer a convenient way to make smaller purchases, but buyers should understand the platform's terms, storage arrangements and regulatory protections before committing money.
Silver buyers should exercise similar caution and avoid assuming that a recent price recovery necessarily signals a sustained rally.
As the festive season progresses towards Dhanteras, consumers may benefit from comparing rates setting a clear budget and making purchases according to their needs rather than trying to predict short term market movements.
