Gold and silver prices have fallen sharply on Dhanteras, giving festive buyers a cheaper entry point on one of the most auspicious days of the year to buy precious metals. As per the Indian Bullion and Jewellers Association (IBJA), 24-carat gold slipped by Rs 3,106 to around Rs 1.41 lakh per 10 grams on Friday, November 6, while silver dropped by Rs 5,437 to around Rs 1.82 lakh per kg.
With prices lower and the festive mood high, the big question for many buyers is where to put their money: physical gold, gold ETFs or silver. Each option comes with different costs, tax rules and risks. Here is a simple comparison to help understand which one suits which kind of buyer this Dhanteras.
Gold and Silver Price Today on Dhanteras 2026
| Metal | Rate (IBJA) | Change |
|---|---|---|
| Gold 24K (10 grams) | Around Rs 1,41,094 | Down Rs 3,106 |
| Silver (1 kg) | Around Rs 1,81,963 | Down Rs 5,437 |
On the MCX, gold opened lower at around Rs 1,42,061 per 10 grams and silver at around Rs 1,84,035 per kg in early trade. Jewellery shop rates differ from city to city and are usually higher, as they include GST, making charges and local costs.
Market experts linked the fall to a global sell-off, rising oil prices and expectations that interest rates may stay higher for longer.
Gold and Silver: Dhanteras 2026 vs Dhanteras 2025
| Metal | Dhanteras 2025 | Dhanteras 2026 | Change |
|---|---|---|---|
| Gold 24K (10 grams) | Rs 1,33,866 | Rs 1,41,094 | About 5.4% higher |
| Silver (1 kg) | Rs 1,80,870 | Rs 1,81,963 | Almost flat |
Both metals had touched record highs on January 29, 2026, with gold at around Rs 1.76 lakh per 10 grams and silver at around Rs 3.86 lakh per kg. Since then, gold has fallen by about 20% and silver by more than 50%, which shows how volatile silver can be.
Physical Gold vs Gold ETF vs Silver: Quick Comparison
| Factor | Physical Gold | Gold ETF | Silver (Physical or ETF) |
|---|---|---|---|
| Best for | Wearing, gifting, tradition | Long-term investment | Higher-risk investors |
| GST | 3% | No GST | 3% on physical, none on ETF |
| Making charges | 5% to 25% on jewellery | None | On silver jewellery and articles |
| Yearly cost | Storage or locker charges | Expense ratio, about 0.5% to 1% | Storage (physical) or expense ratio (ETF) |
| Purity risk | Yes, check BIS hallmark | No | Yes for physical |
| Demat account needed | No | Yes | Yes for ETF |
| Ease of selling | Resale often at a discount | Sell on the stock exchange | Easy for ETF, discount on physical |
| Price swings | Moderate | Moderate | High |
Option 1: Physical Gold
Buying gold jewellery, coins or bars on Dhanteras is a tradition in most Indian homes, and nothing can replace it for weddings, gifting and festive use. However, it is the costliest way to own gold as an investment.
Gold jewellery comes with 3% GST and making charges that usually range from 5% to 25%. When jewellery is sold back, jewellers often cut a part of the value, so the buyer may not get back the full price. Coins and bars have lower making charges than jewellery, but they still carry GST and a premium over the gold rate.
What Rs 1 Lakh Actually Buys
| Option | Value of gold for Rs 1 lakh (approx.) |
|---|---|
| Jewellery (10% making charge + 3% GST) | About Rs 88,260 |
| Gold coin (3% premium + 3% GST) | About Rs 94,260 |
| Gold ETF (before brokerage) | Close to Rs 1 lakh |
This is only an example. Actual making charges and premiums differ from jeweller to jeweller.
Buyers should always look for the BIS hallmark and the six-digit HUID code on gold jewellery, ask for a proper bill, and check the buyback policy before paying.
Option 2: Gold ETFs
Gold ETFs (exchange-traded funds) are funds that track the price of gold and are traded on the stock exchange like shares. Each unit is backed by physical gold of high purity held by the fund house.
Gold ETFs have no making charges, no GST and no storage worries. They are regulated by Sebi, and units can be bought and sold during market hours. The main cost is the expense ratio, which is usually around 0.5% to 1% a year, along with brokerage charges. A demat and trading account is needed to buy them.
For those without a demat account, gold mutual funds are an option. These invest in gold ETFs and also allow small monthly SIPs.
Gold ETFs are the better choice for those who want gold only as an investment and do not need to wear or gift it.
Option 3: Silver
Silver is often called “poor man’s gold”, but it behaves very differently. Apart from being a precious metal, it is widely used in industries like solar panels, electronics and electric vehicles. This means its price depends on both investment demand and the health of the global economy.
That is why silver tends to rise faster than gold in good times but also falls much harder. This year is a clear example. Silver had surged to a record of around Rs 3.86 lakh per kg in January, but it has since lost more than half its value.
Silver can be bought as coins, bars and utensils, or through silver ETFs. Like gold, physical silver carries 3% GST, and silver ETFs avoid GST and storage issues.
Silver may suit investors who can handle big price swings and plan to stay invested for a long time. Most experts suggest keeping it as a smaller part of the precious metals portfolio, with gold as the main holding.
Also Read: Best Timings for Lakshmi Puja Muhurat
Tax Rules: Physical Gold vs Gold ETF vs Silver
| Product | Long-term if held for | Long-term tax | Short-term tax |
|---|---|---|---|
| Physical gold and silver | More than 24 months | 12.5% without indexation | As per income tax slab |
| Gold and silver ETFs | More than 12 months | 12.5% without indexation | As per income tax slab |
| Gold mutual funds | More than 24 months | 12.5% without indexation | As per income tax slab |
Cess and surcharge apply on top. ETFs get long-term tax treatment after just one year, which is a clear advantage over physical gold and silver.
What About Digital Gold and Sovereign Gold Bonds?
Digital gold is sold by many apps and allows buying gold for as little as Re 1. However, it does not come under the same regulatory framework as exchange-traded products, and it carries 3% GST along with a buy-sell spread that can be around 3% to 6%. Buyers should check the provider, storage and redemption terms carefully.
Sovereign Gold Bonds (SGBs), which offered 2.5% yearly interest and tax-free returns on maturity, are no longer being issued by the government. Old SGBs can still be bought on the stock exchange, but availability and prices vary.
What Experts Are Saying
Vandana Bharti, Head of Commodity Research at SMC Global Securities, said the current fall may be the time for prices to bottom out, and that she expects a rally over the next year. She pointed out that gold and silver have delivered annual returns of around 14% to 15% and 18% to 22% respectively over the last 10 years.
However, Ponmudi R, CEO of Enrich Money, said the near-term trend for both metals remains cautiously weak.
Dr Renisha Chainani of Augmont has suggested buying gold in a staggered way, such as through SIPs, instead of putting in a lump sum at once, given the high volatility in prices.
So, What to Buy This Dhanteras?
There is no single right answer, as it depends on the purpose of buying. In simple terms:
- For tradition, gifting or wearing: Buy physical gold. Coins or light jewellery with lower making charges are a better choice. Always check the hallmark.
- For long-term investment: Gold ETFs or gold mutual funds are cheaper, safer to hold and more tax-friendly.
- For higher-risk investors: A small amount in silver, preferably through silver ETFs, can be added for diversification.
- For a mix of both: Many families buy a small coin or item for the Dhanteras puja and invest the rest through ETFs.
Financial planners usually suggest keeping around 5% to 15% of an investment portfolio in precious metals, rather than putting all savings in gold or silver. Buying in parts, instead of all at once, can also help reduce the risk of sudden price swings.
Dhanteras 2026: Key Details
| Date | Friday, November 6, 2026 |
| Diwali | Sunday, November 8, 2026 |
| Gold 24K (IBJA) | Around Rs 1.41 lakh per 10 grams |
| Silver (IBJA) | Around Rs 1.82 lakh per kg |
Note: Gold and silver rates change through the day. Figures mentioned are as reported on November 6, 2026, and local jewellery rates may differ.
Disclaimer: This article is for information only and is not financial advice. Please consult a SEBI-registered investment adviser before making any investment decision.