Overview
- Domestic futures reversed on Dhanteras, Nov. 6, with MCX December gold down about 1.16% to roughly ₹1,42,421 per 10 grams and silver futures falling more sharply.
- Prices had rallied earlier in the week after international bullion recovered and jewellers bought ahead of the festival, lifting Delhi retail rates to ₹1,46,600 on Nov. 4 and ₹1,48,800 on Nov. 5 according to the All India Sarafa Association.
- Trade groups and market checks said Dhanteras sales value rose while volumes were flat or marginally down, and the All India Gem and Jewellery Domestic Council gave a preliminary sales-value estimate near ₹60,000 crore driven by higher prices.
- Brokerages urged buy-on-dips or staged accumulation for long-term investors but warned that near-term direction depends on incoming US economic data, moves in the dollar and bond yields, crude oil and central-bank and ETF flows.
- Silver showed larger intra-week swings than gold because of weak industrial demand pressure, and several jewellers reported muted consumer footfall so buyers saw lower exchange/futures rates but final retail bills still include making charges, GST and local premiums.