National News
Gold Shines Brightest In India’s ₹1 Lakh Crore Dhanteras Shopping Spree
CAIT Says Gold and Silver Sales Expected To Generate Over ₹60,000 Crore
Dhanteras shopping across India is set to cross a staggering Rs 1 lakh crore today, according to forecasts from the Confederation of All India Traders (CAIT). Driving the bulk of this festive boom is the rush for precious metals, with gold and silver sales expected to generate over Rs 60,000 crore—accounting for roughly three-fifths of the total projected spend. While final numbers will depend on how trading turns out by day’s end, jewellers are already tracking clear shifts in consumer behavior.
To stretch their budgets without foregoing festive tradition, shoppers are increasingly turning to lightweight pieces crafted in 14-carat and 18-carat gold, notes the All India Jewellers and Goldsmith Federation.
By adjusting both weight and purity—choosing designs that use less metal or lower carats—buyers have found a practical way to manage their total bills while keeping the sparkle of Dhanteras alive. Fuller sales figures across all retail markets will be released by trade bodies later this evening.
National News
MCX Gold and Silver Futures Dip On Dhanteras On Surging Crude Prices
Despite The Traditional Demand Boost Associated With Dhanteras, Domestic Bullion Prices Tracked Weakness In International Markets
Gold and silver futures opened sharply lower on the Multi Commodity Exchange (MCX) on Friday, driven by surging crude oil prices that have reignited global inflation concerns and boosted market expectations of a December U.S. Federal Reserve rate hike.
Despite the traditional demand boost associated with Dhanteras, domestic bullion prices tracked weakness in international markets, where spot gold dipped to $4,040 per ounce and spot silver fell to $51.42 per ounce. Further weighing on market sentiment, Goldman Sachs revised its end-2026 gold price target downward to $4,150 per ounce (from $4,650 per ounce), citing a hawkish Fed trajectory.
Key Market Highlights
MCX Gold Futures (Dec 2026): Dropped by Rs 2,300 to trade at Rs 1,41,808 per 10g.
MCX Silver Futures (Dec 2026): Fell by Rs 3,440 to trade at Rs 1,83,700 per kg.
US Fed Outlook: CME FedWatch data indicates a 71% probability of a December rate hike, reinforced by recent hawkish remarks from Federal Reserve officials.
Macro Drivers: Rising crude oil prices following international geopolitical friction have escalated inflation fears, increasing the opportunity cost of holding non-yielding precious metals ahead of the U.S. non-farm payrolls data.
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MCX Gold and Silver Futures Dip On Dhanteras On Surging Crude Prices
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Gold Shines Brightest In India’s ₹1 Lakh Crore Dhanteras Shopping Spree
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