Now Reading: Gold buyers wait as prices fall further
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Gold buyers wait as prices fall further
The Story in Brief
Gold sales on Dhanteras in Ludhiana on Friday, 6 November 2026, have dropped sharply compared to 2025 as customers hold back expecting further price declines. The price of gold has fallen from a peak of about Rs 1.95 lakh per 10 gram in January 2026 to around Rs 1.44 lakh on 6 November.
Jeweller Nilesh Garg reported a nearly 40% decline in festive season sales this year, noting that anyone buying gold now could lose money. Another jeweller, Anand Sikri, said customer numbers were far lower and prices had dropped by about Rs 1,000 in the past 24 hours alone.
Investment consultant Atul Mongia said high prices and expectations of further corrections were keeping investors away, adding that buying makes sense only when prices stabilise. Jewellers said uncertainty over where prices would settle had hit both investment and festive buying.
Indian Opinion Analysis
The drop in gold prices has reversed the traditional Dhanteras buying rush, with jewellers reporting a 40% sales decline. The price fall from Rs 1.95 lakh to Rs 1.44 lakh per 10 gram in ten months has made customers fear further losses, freezing purchases. The article leaves unresolved when or at what level prices will stabilise enough to revive demand. The next watch point is whether the downward trend continues into the wedding season, which jewellers usually rely on for gold sales.
Source: hindustantimes.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
