Gold Prices Fall Ahead of Dhanteras and Diwali, Bringing Relief to Buyers

Gold prices have declined ahead of Dhanteras and Diwali, bringing relief to customers planning to purchase jewellery and gold coins during the festive season. After reaching record highs earlier this year, gold prices have witnessed a significant correction in domestic and international markets.

According to the figures provided, gold prices have fallen substantially from their previous peak, creating renewed interest among buyers ahead of the festive shopping period.

In January 2026, the price of 10 grams of 24-carat gold reportedly reached Rs 1.91 lakh. However, prices have since declined amid changing economic conditions and market corrections.

In Bhubaneswar, 24-carat gold is currently priced at Rs 1,42,260 per 10 grams, while 22-carat gold costs Rs 1,30,000 per 10 grams, according to the supplied figures.

Gold Prices Witness Significant Decline

Gold prices have come under pressure in both domestic and international markets. On the Multi Commodity Exchange (MCX), gold prices reportedly declined by Rs 700 per 10 grams.

Following the decline, December gold futures fell to Rs 1,42,260 per 10 grams, according to the figures provided in the source report.

The fall in prices has offered some relief to jewellery buyers preparing for Dhanteras and Diwali. These festivals are traditionally considered auspicious occasions for purchasing gold, silver and other precious metals.

Silver Prices Also Under Pressure

Along with gold, silver prices have also experienced downward pressure in the market. The decline in precious metal prices has attracted attention from consumers and investors alike.

Market movements have been influenced by several factors, including changing economic conditions, investor sentiment and selling activity in domestic and international markets.

Federal Reserve Decision Fails to Support Prices

According to market analysts cited in the source report, precious metals have remained under pressure despite the US Federal Reserve leaving interest rates unchanged.

A wave of selling in international and domestic markets reportedly contributed to the latest decline in gold prices.

Gold prices are sensitive to changes in interest rate expectations, movements in the US dollar and global economic uncertainty. These factors can influence investor demand for precious metals.

Festive Buyers May Benefit From Lower Prices

The decline in gold prices could provide an opportunity for customers planning festive purchases. Buyers looking to purchase jewellery, coins or other gold products may benefit from lower market rates compared with the recent peak.

However, retail jewellery prices can vary depending on local market conditions, purity, making charges and applicable taxes. Gold prices may also fluctuate further depending on international market movements and economic developments.

With Dhanteras and Diwali approaching, consumers will be closely watching gold prices before making their purchasing decisions.