Buyers planning to purchase gold coins, jewellery, or bars on Dhantrayodashi are getting a slightly lower price point on the most auspicious shopping day of the Diwali 2026 festive season. A sudden drop in domestic gold rates today has brought relief to festive shoppers and investors looking to make traditional purchases.
Breakdown of 24K and 22K Gold Price Cuts
The price decline spans across different purities of the precious metal in India today. For 100 grams of 24-carat gold, the price plunged by Rs 25,600, bringing the total cost down to Rs 14,34,600. Similarly, 22-carat gold experienced a notable dip. The price for 100 grams of 22-carat gold decreased by Rs 23,500, retailing at Rs 13,15,600. This downward adjustment offers festive shoppers a relative price break compared to recent session highs.
Four-Day Rally Comes to a Halt
Today's price drop follows a consecutive four-day upward rally. Between November 1 and November 5, 24-carat gold prices rose steadily from Rs 14,288 to Rs 14,602. Despite today's retracement, the precious metal remains up by approximately 3.3% for the month of November overall. Market observers attribute the pause to routine profit-taking following the recent price climb.
MCX Gold Futures Slip While Silver Futures Advance
On the Multi Commodity Exchange, gold contracts are trading in negative territory. Gold futures maturing on December 4, 2026, dropped 1.77% to settle around Rs 1,41,549 per 10 grams during trading hours. Conversely, silver futures maturing on December 4 showed strength, trading 2.37% higher at Rs 1,82,701 per kilogram.
Nirmal Bang Securities Issues Sell Recommendation
Broking firm Nirmal Bang Securities has recommended taking a short position in gold, anticipating near-term weakness in prices. The brokerage advised traders to consider selling gold in the range of Rs 1,44,000 to Rs 1,44,100, placing a strict stop-loss above Rs 1,45,200. The projected downside target for this call has been established between Rs 1,42,800 and Rs 1,42,500. Traders have been suggested to book profit as market prices move toward the recommended target zone.
