Gold Scales Rs 1.4 Lakh In Delhi As Dhanteras Buying Heats Up

Gold prices pushed higher again on Wednesday, with 24-carat gold crossing the Rs 1.40 lakh per 10 grams mark in Delhi as demand firmed ahead of Dhanteras. Rates have risen for several sessions in a row as households and investors position for the auspicious buying days that traditionally anchor festive-season precious-metal demand. Dhanteras this year falls on November 6, with Diwali following on November 8.

The climb caps a remarkable run for the metal. Even at current levels, prices sit somewhat below the record high touched earlier in the year, but they remain far above where they stood a year ago, reflecting a broad global uptrend in gold alongside a softer rupee that has amplified the move in local terms.

Why buyers keep coming back

Gold occupies a unique place in Indian festive culture, viewed as both an auspicious purchase and a long-standing store of value. Historical returns have been striking, and that track record continues to draw buyers even as prices scale new peaks. Jewellers typically report a surge in footfalls in the days before Dhanteras, with lightweight jewellery, coins and digital-gold products all seeing interest.

What it means

Record-high prices cut both ways for the trade. On one hand, elevated rates lift the value of each transaction and burnish gold's reputation as a wealth-preserver, encouraging investment-led buying in coins and bars. On the other, sticker shock can dampen volumes for traditional jewellery, nudging buyers toward lighter pieces or smaller quantities to stay within festive budgets.

For the wider economy, the gold rush is a festive fixture with real macro consequences, since the metal is largely imported and heavy buying can weigh on the trade balance and the rupee. With tax collections, factory surveys and auto sales all pointing to a strong consumption season, the appetite for gold rounds out a festive period in which Indian households are clearly in a spending mood, even at Rs 1.4 lakh for 10 grams.