As the festive season approaches in India, particularly with Dhanteras on the horizon, many individuals and investors are closely monitoring gold and silver prices. While prices have slightly eased from their record highs, they remain elevated, driven by global uncertainties and increasing demand for these precious metals. Understanding how to navigate this volatile market can empower investors to make informed decisions during this critical time.
Currently, gold for December 5 expiry on the MCX is priced at ₹78,260 per 10 grams, while silver has climbed to ₹98,224 per kg. This peak demand period is traditionally marked by heightened buying, and investors are advised to approach their purchasing decisions with caution, considering both short-term and long-term implications.
Experts in the commodities market suggest that geopolitical tensions and expectations of potential U.S. interest rate cuts are significant factors influencing this surge in prices. Rahul Kalantri, Vice President of commodities at Mehta Equities, notes that while gold has seen steady gains recently, silver may present greater upside potential. He predicts that silver could rise to between ₹1,05,000 and ₹1,10,000 per kg by Diwali, encouraging investors to reassess their strategies and consider a shift towards silver investments.
Similarly, Manoj Kumar Jain of Prithvifinmart Commodity Research supports this view, asserting that both gold and silver are likely to maintain their strength in the coming weeks. He suggests that investors look to buy gold if it remains above ₹77,700, with a targeted goal of ₹78,500. For silver, Jain recommends entering the market at ₹95,500, targeting ₹98,000, while setting a stop loss at ₹94,400. He emphasizes that the current volatility in the dollar index and ongoing international tensions will continue to underpin the prices of these metals.
In light of these insights, many investors might see precious metals as both a festive purchase and a safe haven asset. While Dhanteras traditionally signifies the buying of gold and silver for prosperity, it is crucial to approach investments with a clear strategy. This involves not only assessing current market trends but also understanding personal financial goals and risk tolerance.
As of now, here are the gold and silver prices in major Indian cities:
Gold Prices Today (per 10 grams)
| City | 22K Gold (INR) | 24K Gold (INR) |
| Delhi | ₹72,920 | ₹79,560 |
| Mumbai | ₹72,280 | ₹79,410 |
| Chennai | ₹72,280 | ₹79,410 |
| Kolkata | ₹72,280 | ₹79,410 |
Silver Prices Today (per kg)
| City | Silver Price (INR) |
| Delhi | ₹99,400 |
| Mumbai | ₹99,400 |
| Chennai | ₹1,06,900 |
| Kolkata | ₹99,400 |
In conclusion, as Dhanteras draws near, it is essential for investors to stay informed and agile in their investment choices. While the allure of purchasing gold and silver during the festive season is strong, a strategic approach focusing on market dynamics can help individuals make sound decisions. By carefully evaluating both metals’ potential, especially in the case of silver, investors can optimize their investment portfolios as the festive season unfolds.
