As India gears up for Dhanteras, one of the most auspicious days in the Hindu calendar to purchase gold, prices are nearing Rs 1.3 lakh per 10 grams. This has left many consumers and investors in a dilemma: is it better to buy now or wait in the hope of a price correction? With gold traditionally seen as a symbol of wealth, prosperity, and good fortune, its purchase during the festive season is both a cultural practice and a financial decision.
Current Gold Price Trends
Gold prices have been on an upward trajectory in recent months. The spot price of gold in India has climbed steadily, influenced by a combination of global factors and domestic demand. Key drivers include:
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Global Gold Rates: Internationally, gold has seen moderate gains due to geopolitical uncertainties, currency fluctuations, and inflation fears. Investors often flock to gold as a safe-haven asset during periods of market volatility.
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Rupee Weakening: The Indian rupee has depreciated against the US dollar, making imports more expensive. Since India imports nearly all of its gold, any decline in the rupee naturally pushes domestic gold prices higher.
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Festive Season Demand: Historically, gold demand rises sharply in September and October, coinciding with Dhanteras, Diwali, and wedding season purchases. Increased consumer demand during this period often adds upward pressure on prices.
As of early October 2025, the price per 10 grams of 24-karat gold is hovering close to Rs 1.3 lakh, a level that has prompted buyers to consider their timing carefully.
Should You Buy Gold Before Dhanteras?
The answer depends on several factors, including your purpose for buying, investment goals, and risk appetite.
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Buying for Personal Use:
For those purchasing gold for religious or ceremonial reasons, timing is often dictated by tradition rather than market trends. Dhanteras is considered the most auspicious day to purchase gold, as it is believed to bring prosperity and good luck. In this context, buying gold even at slightly higher prices may be justified, as the spiritual and cultural value outweighs minor financial considerations. -
Buying as an Investment:
If gold is being purchased primarily as an investment, it is wise to consider market trends and expert forecasts. Analysts note that while prices are high now, the gold market may witness short-term corrections due to factors such as:-
Strengthening of the Indian rupee
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Stabilization of global gold rates
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Lower-than-expected festival demand
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Investors looking at long-term returns may still consider buying now, as gold historically appreciates over time. Digital gold, sovereign gold bonds (SGBs), and gold ETFs offer alternative methods to invest in gold without the need for physical storage, reducing risks such as theft and making it easier to buy in smaller quantities.
Expert Opinions
Financial experts suggest that timing the market precisely is challenging. Vinod Nair, Head of Research at Geojit Investments, advises: “If you are buying gold for personal or ceremonial purposes, don’t wait for a dip. However, for investment purposes, consider diversifying into gold ETFs or SGBs, which can mitigate storage costs and allow flexibility in buying at various price points.”
Similarly, experts highlight that demand during the festive season is usually so high that any minor price dip may be short-lived. Waiting for a reduction in prices may result in missing the auspicious window entirely.
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Historical Perspective
Looking at past trends, gold prices during Dhanteras often experience a seasonal spike. For instance, in 2024, gold touched similar highs in the days leading up to Dhanteras, only to stabilize slightly afterward. Historically, the weeks before Dhanteras see a surge in consumer buying, leading to elevated prices. Post-festival, gold sometimes experiences minor corrections, though long-term upward trends usually persist.
Factors Influencing Gold Prices in the Near Term
Several factors could influence gold prices leading up to Dhanteras:
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Global Economic Conditions: Inflation, interest rates, and global uncertainties can drive gold prices higher or lower.
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Government Policies: Any changes in import duties, taxes, or regulations affecting gold imports can have an immediate impact on domestic prices.
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Market Sentiment: Investor sentiment in stock markets, currency fluctuations, and overall economic stability influence the demand for safe-haven assets like gold.
Buying Tips for Dhanteras
For those planning to purchase gold this Dhanteras, the following tips can be helpful:
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Compare Prices: Check rates across multiple jewelers and online platforms before making a purchase.
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Check Purity: Ensure the gold is hallmarked and of the correct karat (usually 22K for jewelry).
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Buy in Small Quantities: If budget is a concern, consider buying smaller units of gold, either physically or digitally.
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Consider Digital Alternatives: Gold ETFs and SGBs provide the benefits of gold ownership without the need for physical storage.
Conclusion
With gold nearing Rs 1.3 lakh per 10 grams, the decision to buy before Dhanteras depends largely on your purpose—whether ceremonial or investment-driven. For personal use, the auspicious timing may outweigh short-term price considerations. For investment purposes, exploring digital gold or gold bonds can provide flexibility and reduce associated risks.
Experts suggest a balanced approach: if your intent is investment-focused, a combination of physical and digital gold may be optimal, while for traditional purchases, it is advisable to buy according to custom and ritual.
Ultimately, gold continues to be a trusted store of value in India, symbolizing wealth, security, and prosperity. Whether you choose to buy now or wait for a potential dip, informed decisions based on market trends and personal priorities will ensure that your Dhanteras celebrations are both auspicious and financially wise.