World · India Bureau
Gold, Silver Prices Plunge Ahead of Dhanteras Festival
Precious metals markets recorded sharp declines on Dhanteras, with gold falling over ₹3,000 per unit and silver dropping approximately ₹5,500 per kilogram. The price corrections come as India's auspicious shopping season approaches.
LSN India ·
Gold and silver prices declined significantly on Dhanteras, the traditional day for purchasing precious metals in India, marking an unexpected downturn in the commodities market ahead of the festive season.
Gold prices fell by more than ₹3,000 per unit during the trading session, while silver witnessed a steeper decline of approximately ₹5,500 per kilogram. The simultaneous drop in both precious metals has drawn attention from investors and consumers who typically increase their purchases during Dhanteras, one of India's most auspicious shopping occasions.
The price corrections reflect broader market movements in global commodity trading, which influence domestic precious metals valuations. Market analysts noted that such volatility during the festival season presents both challenges and opportunities for buyers and sellers in the precious metals sector.
Dhanteras, celebrated on the new moon day preceding Diwali, traditionally sees increased demand for gold, silver, and other precious items as households make festive purchases. The sharp price movement recorded on this occasion has prompted closer monitoring of market trends as the festive season progresses.