World · India Bureau
Gold, silver prices fall sharply ahead of festive season purchases
Precious metals markets have eased considerably as Indians prepare for major shopping during Dhanteras, Diwali and wedding season. Gold and silver both posted significant declines on Friday, offering relief to buyers planning major purchases.
LSN India ·
Gold prices declined 0.61 percent on Friday to settle at Rs 1,42,750 per 10 grams across major Indian markets, while silver fell approximately 2 percent to Rs 1,96,510 per kilogram, according to the latest market data.
The price corrections come at a strategically advantageous time for consumers. Dhanteras, celebrated two days before Diwali, traditionally marks the beginning of the festive shopping season when many Indian households purchase gold and silver for auspicious occasions. Wedding season also overlaps this period, amplifying demand for precious metals.
Market participants attribute the price weakness to broader international trends and profit-taking following earlier gains. The softening in precious metals rates is expected to provide relief to jewellers and end consumers who have been watching for entry points during this high-demand period.
The 24-carat and 22-carat segments both reflected the broader decline in gold valuations. Traders indicated that price movements could continue as global economic conditions and currency fluctuations influence the domestic precious metals complex during the crucial festive quarter.