India gold and silver prices fluctuate ahead of festive season

Gold and silver prices in India have experienced significant volatility and recent declines leading up to the Dhanteras and Diwali festive season. In late October 2026, 24-carat gold prices in major cities like Delhi and Mumbai hovered around ₹1,42,000 per 10 grams, while silver prices saw a notable drop, falling below ₹2,00,000 per kilogram in some markets.

Market analysts attribute these fluctuations to several global and domestic factors, including international bullion trends, the strength of the US dollar, interest rate expectations from the US Federal Reserve, and geopolitical tensions, particularly in West Asia.

Additionally, there is a growing trend in consumer behavior, with digital gold purchases in India rising significantly. This shift is driven by the accessibility and convenience of online platforms, allowing investors to accumulate gold in small denominations without the need for physical storage of jewelry or bars.