QUICK TAKE | Seven Things to Know About Gold and Silver Prices Ahead of Dhanteras - Open Magazine

AI desk brief

MCX gold futures are back near ₹1.40 lakh per 10 grams and December silver around ₹1.84 lakh per kg, up about 2.6%, but the bounce only partially reverses October’s sharp correction, when gold fell roughly 7% and silver nearly 20%. The move is being linked to softer crude oil, easing inflation/rate चिंता, and a weaker dollar, while silver is outperforming because of its higher volatility and industrial sensitivity.

Physical benchmarks are still lagging futures: IBJA’s November 2 close was ₹1,37,524/10g for 999 gold and ₹1,79,972/kg for silver, both below October 30. Jewellers report improving footfalls into Dhanteras, and IBJA’s Surendra Mehta expects festive sales volumes to rise 10–12% YoY, though actual demand will only be confirmed after the holiday.