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Gold, Silver Shine Again: What's Next for Prices This Dhanteras-Diwali?
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CNBC Awaaz•01-10-2026, 16:13
Gold, Silver Shine Again: What's Next for Prices This Dhanteras-Diwali?
- •Gold and silver prices saw an increase on Thursday, October 1, shifting market focus to US interest rates.
- •Demand for gold and silver in India is expected to rise due to the festive and wedding seasons, particularly Dhanteras and Diwali.
- •On MCX, December futures for gold rose 0.51% to ₹1.49 lakh per 10 grams, while silver traded up 0.40% at ₹2.24 lakh per kilogram.
- •Rising US Treasury yields and a stronger dollar have pressured gold, but geopolitical tensions and inflation concerns still provide support.
- •Experts suggest US interest rates, Treasury yields, the dollar, and geopolitical developments will influence prices, while Indian festive demand will offer support.
Key Questions Answered
On the Multi Commodity Exchange (MCX), December futures for gold increased by 0.51 percent to ₹1.49 lakh per 10 grams, while December futures for silver traded up by 0.40 percent at ₹2.24 lakh per kilogram.
Demand for gold and silver is expected to rise due to Dhanteras, Diwali, and the wedding season. Industry experts note that wedding purchases could see an increase of 15 to 20 percent, with average ticket sizes ranging between ₹1.5 lakh and ₹3 lakh.
Gold and silver prices are heavily influenced by the US Federal Reserve's interest rate decisions, upcoming US payroll data, rising Treasury yields, a stronger dollar, and ongoing geopolitical tensions.
