Overview
- Domestic futures fell about 1–2% on Dhanteras with MCX December gold near Rs 1,42,400 per 10 grams and city 24K retail quotes clustered around Rs 1.42–1.46 lakh per 10 grams.
- The pullback follows a rally on Nov. 4–5 that pushed some city rates to roughly Rs 1.46–1.48 lakh per 10 grams after a weaker dollar post‑US midterms lifted international spot gold.
- Silver showed larger percentage swings than gold, rising sharply earlier in the week then correcting on Dhanteras with domestic silver futures roughly in the Rs 1.84–1.85 lakh per kilogram area as weak industrial demand and Fed/yield expectations pressured the metal.
- Jewellers expect higher value sales but broadly flat volumes for Dhanteras as retailers advertise offers, while brokerages recommend phased accumulation with suggested support zones around Rs 1.30–1.35 lakh per 10 grams and multi‑month upside targets.
- Buyers should note quoted bullion rates are not the final bill because making charges, GST and BIS hallmarking add cost, and India’s prices remain tied to international spot levels, the rupee and global flows such as central‑bank and ETF activity.