Dhanteras Pushes India's Gold Prices to Record ₹1.33 lakh/10g

When DhanterasDelhi arrived this year, gold prices jumped to a fresh high that left both traders and shoppers blinking. The Hindustan Times (Hindustan Times) cited data from the Press Trust of India (Press Trust of India) indicating a 24‑carat rate of ₹1,32,953 per 10 grams in Delhi – a rise of ₹3,350 in a single day. The surge isn’t a one‑off glitch; it’s the latest chapter in a month‑long climb that mirrors the festive fever building up to Diwali. On October 17, the India Bullion and Jewellers Association Ltd. (India Bullion and Jewellers Association) had already posted indicative retail rates that nudged fine gold (999) past ₹12,958 per gram. By the time the sun set on Dhanteras, those numbers had vaulted even higher.

Cultural Roots: Why Dhanteras Matters

The day honors Goddess Lakshmi, the Hindu deity of wealth and prosperity. Traditional belief holds that buying gold on this auspicious occasion invites good fortune for households and businesses alike. As the Hindustan Times put it, “People are willing to pay higher prices to buy gold on the auspicious day of Dhanteras.” That cultural push translates directly into market demand, especially in gold‑loving India, which consumes roughly a quarter of the world’s total output.

Record‑High Numbers Across the Country

While Delhi’s headline figure grabbed attention, other metros echoed the spike. Times Now reported Delhi bullion rates at ₹1,27,100 per 10 grams earlier on the day, and Goodreturns logged 24‑carat at ₹13,086 per gram (₹1,30,860 per 10 grams) for the same date. The monthly picture is equally striking: from a 22‑carat rate of ₹10,945 per gram on October 1 to ₹12,170 per gram on October 17 – a 9.74 % jump. 24‑carat climbed from ₹11,939 per gram to ₹13,277 per gram, a 9.75 % rise. Even September showed a solid upward trajectory, with 22‑carat moving from ₹9,705 per gram on September 1 to ₹10,765 on September 30, and 24‑carat from ₹10,588 to ₹11,744 per gram. The pattern suggests that Dhanteras is not a solitary catalyst but the peak of a broader seasonal rally.

What’s Driving the Surge?

Three forces converge on the gold market right now. First, global commodity trends keep the metal’s price buoyant – the London Bullion Market Association posted a 2 % rise in the spot price of gold in early October. Second, the rupee’s recent weakening against the dollar adds a currency premium to every gram bought in India. Third, pure cultural habit: retailers know that sales volumes explode on Dhanteras, so they often release limited‑edition collections that spark a buying frenzy.

BankBazaar ( BankBazaar) reminded readers that gold is seen not only as ornamentation but also as a “solid instrument for investment.” Traders in commodities markets, therefore, pile into bullion futures, further tightening supply.

Industry Reactions and Consumer Sentiment

Major jewelers are bracing for a sell‑out. Tanishq (Tanishq) warned, “Won’t be surprised if we run out,” hinting at inventory pressures that could spill over into the next week’s Diwali sales. Smaller retailers, however, report that many buyers are waiting for the festival to lock in what they perceive as “record‑low” long‑term prices, even though today’s numbers are anything but low. Goodreturns (Goodreturns) noted a growing “premium” component – the extra amount above the international spot price – that now tops ₹5,000 per 10 grams in some regions.

Implications for Investors and the Festive Season

For the average Indian household, buying gold on Dhanteras can be both a cultural ritual and a hedge against inflation. With the market expecting Diwali‑time demand to stay high, the premium may stay elevated through the end of November. Yet analysts at the MCX (Multi Commodity Exchange) caution that any sudden rupee recovery could flatten the curve. If you’re a first‑time buyer, the key is timing: purchase on Dhanteras to lock in the current premium, but keep an eye on the next week’s spot movement. For seasoned investors, the record figures suggest a possible correction window later in December when festive buying wanes.

Future Outlook: What to Watch

Looking ahead, three variables will likely shape the next wave of prices. 1) Global monetary policy – any shift in U.S. interest rates could sway the spot price. 2) Domestic supply chains – the upcoming monsoon harvest affects logistics for imported bullion. 3) Consumer sentiment – if the Diwali‑season gifts market stays robust, we could see premiums linger above ₹1.35 lakh per 10 grams. In short, Dhanteras has set a new benchmark, but the story isn’t over. Traders, jewelers, and families will all be watching the numbers closely as the holiday season rolls on.

• 24‑carat gold hit ₹1,32,953 per 10 g in Delhi on Oct 18, 2025.
• 22‑carat gold rose to ₹1,21,883 per 10 g the same day.
• Monthly increase: +9.74 % for 22 K, +9.75 % for 24 K.
• India consumes ~25 % of global gold demand.
• Retailers anticipate sell‑outs; Tanishq warned of possible stockouts.