Ahmedabad: Gold and silver prices have risen by over 12% since last Dhanteras, despite a recent correction in precious metal prices. However, the pullback in rates has encouraged buyers to pre-book jewellery ahead of the festival on Friday, traders and jewellers said.Gold prices stood at Rs 1,48,500 per 10 grams on Thursday, up from Rs 1,33,000 on Dhanteras last year (Oct 18), marking an annual increase of 11.6%. Silver prices climbed 12.9% to Rs 1,92,000 per kg from Rs 1,70,000 over the same period.Manoj Soni, a city jeweller, said pre-booking was a good option amid the recent decline in prices. Buyers are showing interest in medium-weight and lightweight jewellery, while larger purchases are increasingly registered outside the traditional muhurat window.Jigar Patel, treasurer of the Jewellers’ Association Ahmedabad, said, “We’ve seen a surge in demand for bullion as prices have corrected significantly from their peak. For Dhanteras, inquiries and bookings for gold and silver coins and bars have been strong. We expect a steady demand for lightweight jewellery on the auspicious day. The response was encouraging during Pushya Nakshatra as well.”The wedding season is also expected to support demand for precious metals. Buyers are likely to balance traditional purchases with investment considerations amid elevated prices.Samit Guha, managing director and CEO of MMTC-PAMP, said, “The demand for gold and silver bars and coins is likely to remain resilient during the festive season. The cultural significance and roles of these precious metals in household investments will drive sales. Demand is also likely to receive support from the wedding season.”“With gold prices remaining elevated, buyers are likely to prefer bars and coins of smaller denominations. Younger consumers are also exploring convenient investment options such as digital gold,” he added.
