Karat Lane Rocks to Gold & Silver Heavy Metal Beats

The timeless allure of gold and silver seems to be at an all-time-high this Diwali with prices touching the sky. Undeterred by global uncertainties, trade wars and tariff turmoil, Indian buyers are making a ‘gold rush’ and riding high on the ‘silver lining’ this festive season. Gold and silver prices reached record all-time highs above Rs 1.28 lakh per 10 gram in the early opening session on October 14. Buzz in the bullion market is that it may reach the Rs 2-3 lakh mark. Interestingly, silver continues to outshine gold this Diwali. So, if you’re planning to buy yourself some sparkle this Dhanteras, brace yourself because prices of both the precious metals (gold and silver) are at a lifetime high.

Silver Bells & Golden Spells

“Over the past few years, we’ve consistently seen a 15-25% surge in sales during Diwali as compared to off-season.” says Uzair Ahmad, Senior Data Analyst, UKG & Financial creator. Uzair notes that the sharp rise in demand isn't driven by investment alone — gifting plays a major role too, especially with the wedding season peaking between October and December. What’s clear is that: gold is glittering, silver is sizzling and wallets everywhere seem to be heating up. Whether you’re buying for tradition, investment or just to flex at the next family function, experts have a world of caution and ask buyers to tread carefully on the bullion road. Stroll on any main market square and you will see showrooms all decked up like wedding venues.

Some jewellery stores have serpentine queues spilling out onto the streets. Even in the virtual space, online platforms are witnessing a surge in digital gold and silver purchases. From dainty gold coins engraved with fine carvings of Lakshmi to little glittery silver idols and designer jewellery, there’s something for everyone.

Uzair explains that gold and silver prices depend on market conditions and macroeconomic factors. He says, “For instance, during years of price stability we see higher jewellery demand, but in contrast, when prices surge what we witness are investment-led purchases like coins or bars.”

Let’s not forget that after the pandemic, the digital sphere too has been shining bright with gold rush. Uzair quips, “The rise in online and digital gold transactions marks a tech-driven evolution of traditional buying habits.”

Festive Fervour

Buying gold and silver ahead of Diwali and on Dhanteras day is considered auspicious. It holds special cultural and spiritual significance. The festive season kicks off with Dhanteras which marks the first of the five-day Diwali celebration. The word “Dhanteras” itself comes from “Dhan” which means wealth.

Akash Khubchand Mandhan, Ex SEBI Reg. Adviser explains, “Gold and silver have always been considered as godly metals which makes the buying process both spiritual and significant.”

A.K Mandhan opines that the purchase behaviour of Indians is relatively simple. He says, “It is our age-old tradition to buy gold and hold it forever and when there is a further market hype, we want to buy more with the hope that its price too, will rise with time.”

Uzair shares that this year consumer sentiment may face waves of being cautious however that isn’t going to result in a decline in demand. Uzair adds, “Instead, we may even see a behavioural shift towards lighter jewellery pieces, digital gold and coins, reflecting both budget-consciousness and an evolving urban preference taste.”

Most Indian households perceive investment in gold and silver as a safe bet and preferred hedge against volatility. These precious metals are considered traditional heirlooms, sacred and easy to sell during emergencies. For a majority of the people, it is a blend of spiritual beliefs and practical financial wisdom at play.

Expert Tips

So, the priceless question on everyone’s mind is whether it is wise to invest in gold and silver this Diwali? With prices already shimmering at elevated levels, many are wondering whether now is the right time to buy or simply admire these metals from afar.

Experts believe the festive shine is more than just surface-level sparkle. AP Singh, a seasoned gold investment advisor factors in the global mood and says, “With so much gloom and doom in the world, people will always make a rush to invest in gold and silver. This has been the pattern of human behaviour since time immemorial in all cultures across the world.”

Uzair feels that for Diwali, the prices of gold and silver will remain firm. “They may even rise an inch higher. Buyers can expect high liquidity in the market and increased promotional offers by jewellers,” Uzair says.

While the price factor may glisten a bit more, the market is expected to remain vibrant with plenty of deals, discounts, and festive offers. Mandhan explains further, “Post the pandemic, gold prices have shot up and it would continue to witness the same hype.” He believes that the current upward trend is far from a festive fluke or shoot. In fact, he predicts that the bullion buzz is here to stay at least for the next few years.

The Golden Era

However, here’s the twist. Backing this golden theory is a global financial crisis scenario. Mandhan shares, “Central banks are dumping dollars and investing in gold simply as a tactic to protect their economies.” He further shares that this golden era rush is here to stay. Mandhan quips, “One can expect this instability to be for the next 10 years, which means there is no chance for gold to go down.” Perhaps, for those buying gold now, that’s the long-term Diwali bonus!

Festive Shine

The surge in gold and silver prices during Diwali is a result of both cultural traditions and market dynamics. Whether its tradition, investment or the spirit of celebration, the rush to buy precious metals during this season has added a golden glow to India’s vibrant economy.

Mandhan shares a stirring insight when he says, “Gold is expected to reach Rs 2 lakh per 10 gm by 2030.” Perhaps the festive spirit doesn’t just lie in the diyas but in these rising prices that seem to dance bright!

Gold & Silver Prices

(As of 15th October 2025)

The Gold Rush

18 carat (1 g) Rs. 9,697/-

22 carat (1 g) Rs. 11,815/-

24 carat (1 g) Rs. 12,889/-

18 carat (10 g) Rs. 96,970/-

22 carat (10 g) Rs. 1,18,150/-

24 carat (10 g) Rs. 1,28,890/-

18 carat (100 g) Rs. 9,69,700/-

22 carat (100 g) Rs. 11,81,500/-

24 carat (100 g) Rs. 12,88,900/-