Gold and Silver Prices Witness a Sharp Fall Ahead of Dhanteras

Gold and silver prices witnessed a steep decline on Saturday, bringing relief to buyers planning purchases this Diwali and Dhanteras. In Hyderabad, the price of 24-carat gold fell by ₹3,380 per 10 grams to ₹1,38,880, while 22-carat gold declined by ₹3,100 to ₹1,27,300. Silver prices dropped by ₹8,000 per kilogram to ₹2 lakh. In Delhi, 99.9% pure gold fell by ₹3,200 per 10 grams to around ₹1.42 lakh, while silver declined by ₹4,200 per kg to ₹1.86 lakh, according to the All India Sarafa Association.

Internationally, gold prices fell nearly 4% to $3,875 per ounce, their lowest level in more than a year. Silver prices dropped 6.20% to $49.12 per ounce, touching levels last seen in November 2025. Expectations that the US Federal Reserve may keep interest rates elevated for an extended period, rising crude oil prices amid West Asian tensions, and persistent inflation concerns have put pressure on precious metals. Concerns over a possible AI bubble have also triggered selling in technology stocks, prompting some investors to liquidate their gold and silver holdings. Weak demand in major markets such as India and China has added to the decline.

Market experts believe the current correction could create an opportunity for those planning long-term investments in precious metals. Compared with the record highs recorded in January, domestic gold prices have fallen around 27%, while silver has declined by nearly 58%. However, some analysts expect prices to recover, saying excessive speculative positions may have contributed to the recent fall. Developments surrounding the US midterm elections and the Federal Reserve's future interest-rate decisions could influence the next movement in bullion prices.