Gold Near Rs 1.44 Lakh and Festive Sales Cross Rs 62,000 Crore: What Dhanteras Buyers Saw

Gold stayed near record territory this week even as buyers kept buying through the festival season. Business Today reported on 10 November 2026 that MCX gold touched Rs 1,44,400 per 10 grams in the latest trading session before settling at Rs 1,43,106, while silver climbed to Rs 1,89,399 per kg and closed lower at Rs 1,87,015. Internationally, December gold futures on COMEX rose 0.50% to $4,135.20 an ounce in early trading, while spot gold later slipped 0.6% to $4,114.48 and spot silver slipped 0.5% to $53.14, according to the same report, which cites Reuters inputs.

The festive season told the other half of the story. Gold sales across India during Dhanteras and Lakshmi Puja are estimated to have exceeded Rs 62,000 crore, according to the All India Gem and Jewellery Domestic Council, as reported by IANS via Lokmat Times on 8 November 2026. Rajesh Rokde, chairman of the council, said demand stayed robust despite elevated prices, driven by gold's historical returns, its cultural significance and growing investor confidence, and noted increasing interest among Gen Z and younger buyers this Lakshmi Puja.

Put the two together and the picture is striking: prices are far above where they were, yet people still bought. Lokmat Times reports that gold prices, which previously hovered between Rs 80,000 and Rs 1.15 lakh per 10 grams over the last three years, have now climbed to around Rs 1.42 lakh to Rs 1.43 lakh during the current festive period. Earlier this year, prices even touched Rs 1.81 lakh to Rs 1.85 lakh, which made current rates look relatively attractive to buyers, according to the council's chairman.

The rally has been strong even by gold's own standards. The council's chairman said gold delivered returns of approximately 9 to 14 percent between Lakshmi Puja in October 2025 and November 2026, and pointed to its long-term record of around 3,200 percent returns over the past 26 years. Business Today notes that the broader rally remains supported by a softer US dollar and changing geopolitical expectations, with falling crude prices also helping, while US inflation data and Federal Reserve policy expectations remain the important near-term triggers for what happens next.

Silver, meanwhile, has moved even faster than gold, and that cuts both ways. Business Today reports that silver has outperformed gold in the latest rally, but its sharper movements also make it more volatile. Unlike gold, which mainly benefits from investment demand and its safe-haven appeal, silver is also influenced by industrial consumption, including electronics, solar energy and manufacturing, so its price can fall harder when expectations for economic growth weaken.

So should you book profits, hold, or buy fresh at these prices? The experts quoted by Business Today say the answer depends on your portfolio allocation, your investment horizon and your financial goals rather than on short-term price movements. If rising prices have pushed your precious-metal holding well beyond your intended share, consider booking partial profits and rebalancing; if you hold gold for long-term diversification, you may not need to sell simply because prices are high. Fresh buyers may consider staggered purchases through gold and silver mutual funds or periodic ETF purchases rather than a large lump sum at elevated prices, and remember that what you pay at a shop also depends on your jeweller's making charges and taxes on top of the metal rate.