Dhanteras 2024: Gold, Silver Prices In India Today As Festival Drives Demand

As India celebrates Dhanteras today, demand for gold amid festivities continued to drive demand and hold prices steady. The domestic prices stood at Rs 78,750 as of 8:02 a.m., according to the India Bullions Associations. This is a slight fluctuation, but the prices stayed above Rs 78,700. The purchases during the festive season are further driving the domestic demand for gold.

The futures price of gold stood at Rs 78,536, according to the Multi Commodity Exchange. The outlook on the yellow metal has also seen a steady rise apart from the slight movements. The prices have stayed above the Rs 76,000-mark this week and had also gone up to Rs 78,000 through the week.

Global prices for the yellow metal closed at $2,748 on Monday. The prices hit a high of $2,750 during the day after it opened at $2,748. There was a slip in global demand on Monday, as there was a shift in certain factors driving the demand.

Israel's strike on Iran was restrained and the uncertainty of further moves from Iran pushed down the demand of gold. For global investors, gold becomes a 'safe-haven' investment amid geopolitical tensions.

As global cues dynamically shift the demand of gold globally, the prices see minor fluctuations on a daily basis. While the global political tensions and uncertainty pushes investors to buy more gold as the outlook on geo-political issues remain unclear.

The spot price for silver stood at Rs 97,650 as of 08:02 a.m., according to the Bullions Association. Silver prices had also seen a steady rise as the commodity prices continued to hit record highs after September 2024.

Futures prices of silver stood at Rs 97,390. The prices of silver have also been increasing along with gold amid the festive season purchases.