Overview

• Delhi 24-carat gold touched Rs 1,34,800 per 10 grams on Friday before slipping Rs 2,400 to Rs 1,32,400 on Dhanteras, with silver also falling by Rs 7,000 per kg.
• CAIT estimates total Dhanteras spending at roughly Rs 1 lakh crore, including about Rs 60,000 crore from gold and silver, with Delhi bullion sales topping Rs 10,000 crore.
• Industry bodies reported gold buying volumes down 10–15% year-on-year even as value rose sharply, while silver coin and bar sales jumped roughly 35–40% and overall silver business more than doubled.
• Consumers shifted toward coins, bars, digital gold and ETFs, and favored lightweight or lower-karat jewellery, with some retailers noting increased pre-bookings and first-time buyers.
• Analysts cited dovish Federal Reserve expectations, ETF inflows, and persistent central-bank accumulation—along with trade frictions—as key supports for the multi-month bullion rally.