Gold and silver prices rose in both domestic and international markets on Thursday, November 5, 2026, a day ahead of Dhanteras. The increase comes amid a weaker US dollar and declining bond yields following the US midterm election results. In India, the price of 24-carat gold remained around ₹1.45 lakh per 10 grams, while silver climbed above ₹1.90 lakh per kilogram.
Consumers planning to purchase gold and silver during the festive season may have to spend more this year as prices have increased ahead of Dhanteras. The festival will be celebrated on Friday, November 6.
Buying gold and silver coins, jewellery and utensils on Dhanteras is a long-standing tradition in India, leading to increased demand around the festival. However, prices this year are being influenced by both domestic purchases and developments in international markets.
On Thursday morning, 24-carat gold was trading at approximately ₹1.45 lakh per 10 grams in Mumbai's bullion market, while silver was priced at around ₹1.91 lakh per kilogram. Prices may vary slightly across different cities.
The outcome of the US midterm elections has also contributed to the rise in gold prices. President Donald Trump's Republican Party faced a setback in the elections, while the Democratic Party secured a victory.
Following the results, the US dollar weakened and bond yields declined, providing support to gold prices. In the international market, gold climbed to a nearly two-week high.
On COMEX, gold futures for December delivery were trading at approximately $4,144 per ounce. Meanwhile, international silver prices also reached around $53 per ounce.
According to market participants, a weaker US dollar can make gold relatively cheaper for buyers using other currencies, potentially supporting demand. However, US interest rates and upcoming economic data could influence the direction of prices.
The rise in international prices was also reflected on India's Multi Commodity Exchange (MCX).
According to market data available on the morning of November 5, gold futures for December delivery were trading at approximately ₹1,43,293 per 10 grams. Silver futures for December delivery were trading at around ₹1,87,580 per kilogram.
Gold prices had also recorded a notable increase during Wednesday's trading session. Increased buying in the global market contributed to higher prices in the domestic market.
However, MCX prices and retail jewellery shop rates are not identical. MCX reflects the prices of futures contracts, whereas bullion market prices are determined by factors including purity, taxes and local charges.
Gold prices across different purity categories have also changed ahead of Dhanteras.
According to available market information, 24-carat gold is priced at approximately ₹1.45 lakh to ₹1.46 lakh per 10 grams. Meanwhile, 22-carat gold is trading at around ₹1.33 lakh per 10 grams. Most consumers purchase 22-carat gold for making jewellery.
The price of 18-carat gold is approximately ₹1.09 lakh per 10 grams. This category of gold is used to make designer jewellery and stone-studded ornaments.
Silver prices have also remained elevated, with the market rate for one kilogram ranging from approximately ₹1.90 lakh to ₹1.91 lakh.
Prices may vary slightly depending on the city and jewellery retailer. Making charges and applicable taxes are also added to jewellery purchases, affecting the final amount payable.
