Gold prices extended the festive rally for a second day in the national capital on Thursday, November 5, rising by Rs 2,200 to Rs 1,48,800 per 10 grams on buying by jewellers and retailers ahead of Dhanteras, PTI reported, citing the All India Sarafa Association. Inshorts, reporting the same Sarafa Association figures, put silver's gain at Rs 1,500, taking it to Rs 1,94,500 per kilogram, and said traders attributed the rise to increased purchases by jewellers, retailers and stockists ahead of the festival.
Source: PTI via The Sen Times (Sarafa Association)
Thursday's move follows Wednesday's sharper jump, when gold of 99.9% purity climbed Rs 4,800 to Rs 1,46,600 per 10 grams (inclusive of all taxes) from Rs 1,41,800, and silver surged Rs 9,000 to Rs 1,93,000 per kilogram from Rs 1,84,000, PTI reported on November 4 — levels from which Thursday's Rs 2,200 and Rs 1,500 gains follow directly. Gold is now about 13% costlier than on Dhanteras last year, Inshorts noted.
Source: Inshorts (All India Sarafa Association)
Exchange trading pointed the same way. Gold futures for December 4 expiry on the Multi Commodity Exchange (MCX) surged Rs 2,875 to an early high of Rs 1,46,109 per 10 grams against a previous close of Rs 1,43,234, and were last seen at Rs 1,45,181, up Rs 1,947 or 1.36%, The Daily Jagran reported. MCX silver for the same expiry was comparatively subdued at Rs 1,88,581, up Rs 846 or 0.45%, the report said, quoting Enrich Money chief executive Ponmudi R as saying the yellow metal was outperforming MCX silver after Wednesday's stronger global rally.
Source: The Daily Jagran (MCX)
What happens next: Dhanteras falls on Friday, November 6, the traditional peak day for gold and silver buying, with Diwali on Sunday, November 8 — so Friday's Sarafa rates will show whether festive demand pushes Delhi gold through the Rs 1.49 lakh mark or buyers balk at record-adjacent prices.