Dhanteras Gold Price 2023: A Glittering Tradition
Dhanteras, celebrated in India, marks the beginning of the five-day Diwali festival. On this auspicious day, buying gold is a tradition believed to bring prosperity and good fortune. The gold market often sees a surge in sales, with people buying gold coins, jewellery, and other items. However, the price of gold on Dhanteras is a matter of interest as it impacts the purchasing power of the consumers.
In 2023, the price of gold on Dhanteras was around ₹47,904 per 10 grams, showing a decrease from the previous year when it was around ₹51,500. The price seemed to be slightly varied with another source stating it as ₹47,741 per 10 grams. These fluctuations are normal as gold prices are influenced by various global and local economic factors. For instance, actions by global central banks, especially the US Federal Reserve’s stance on liquidity tightening, are said to guide gold prices.
Apart from the economic factors, demand and supply also play a crucial role. The anticipation of Dhanteras could lead to a slight increase in gold prices, with one source mentioning a 2% increase in the price of gold coins as Dhanteras approached. Moreover, gold prices in India have shown some fluctuations in 2022, which could have been a precursor to the pricing on Dhanteras 2023.
Dhanteras is not just a tradition but an event that has a significant impact on the gold market. The trends observed over the years reflect the economic conditions and the faith of the people in the age-old tradition of buying gold for prosperity
Dhanteras Gold Price 2023 per gram
Dhanteras is an auspicious occasion celebrated in India, marking the commencement of the traditional festive and wedding seasons, with this year’s celebration falling on November 10, 2023. It is believed to bring prosperity and is thus considered a favourable time for investing in gold and other precious metals. The tradition of buying gold on Dhanteras has a rich historical and cultural significance, relating back to tales where gold was used as a shield against misfortune.
The gold prices during Dhanteras are influenced by several factors, both global and local. In 2022, there was a 2% increase in the Dhanteras gold price, a trend possibly spurred by the festive season’s high demand and certain supply issues. Notably, there’s been a substantial reduction in the gold supply from banks to India, causing a discrepancy between demand and supply, especially during festive periods like Dhanteras.
Moreover, the price of gold in India showed a significant jump around October 2023, with a Rs 2500 increase per 10 grams within ten days, reaching Rs 60,490 per 10 grams by mid-October. This upward trend continued into November, with the price averaging around Rs 62,000 for 10 grams of gold as of November 2, 2023.
Despite the high prices, the demand for gold increased by 10% in the third quarter of 2023, reflecting the cultural importance and the financial security associated with gold investments in India.
| Date | Price Per 10 grams (INR) |
| Mid-October | 60,490 |
| November 2 | 62,000 |
| Dhanteras | 47,741 to 47,904 |
The table above shows the fluctuating gold prices leading up to Dhanteras 2023, emphasizing the importance of staying informed about the gold rate during this period to make wise purchasing decisions.
Dhanteras Gold Price 2023 in India
Dhanteras is a significant festival in India, traditionally observed as an auspicious day for purchasing gold, among other items. The festival’s gold-buying spree is not just about adhering to tradition but also an investment strategy for many. The gold prices during Dhanteras are influenced by various factors including global economic conditions, local demand-supply dynamics, and festive season offers by jewellers.
In the lead-up to Dhanteras 2023, it’s noted that many jewellers offer discounts and special promotions to entice buyers. The price for a 10-gram gold coin around Dhanteras 2023 is cited as approximately Rs. 60,000. The demand for gold in India rose by 10% in the third quarter of 2023, indicating a strong market for gold leading up to Dhanteras.
Gold prices in India saw an increase of approximately 8% from ₹54,656 per 10 grams on December 31, 2022, to ₹59,106 per 10 grams on July 13, 2023. This trend was driven by concerns over global economic uncertainty, the possibility of a recession, a strong US dollar, and geopolitical tensions, which led to a rush to purchase gold, especially as the price neared Rs 50,000, which many Indians now consider a baseline price.
On November 2, 2023, gold futures stood at Rs 60,859 per 10 grams on the Multi Commodity Exchange (MCX), after recording a marginal dip of Rs 74 or 0.12 per cent.
This indicates a rising trend in gold prices as Dhanteras 2023 approaches.
Below is a summary of gold prices around Dhanteras 2023 in a tabular format:
| Date | Price Per 10 grams (INR) |
| July 13, 2023 | 59,106 |
| November 2, 2023 | 60,859 |
| Dhanteras 2023 | 60,000 (approx.) |
These figures emphasize the importance of staying updated on gold prices, especially during the festive season, to make informed purchasing decisions. The tradition of buying gold on Dhanteras is deeply rooted in Indian culture and is likely to continue influencing gold market dynamics during the festive season.
Dhanteras Gold Coin
Buying gold on Dhanteras is a deep-rooted tradition in India, believed to bring prosperity and good fortune. Among the various forms of gold investments, gold coins held a special significance during Dhanteras. They are not only seen as tangible assets that can be easily liquidated but also hold religious and cultural value.
Here’s a brief insight into the tradition and significance of buying gold coins on Dhanteras:
Tradition and Symbolism:
- Gold coins are often embossed with images of deities like Goddess Lakshmi, symbolizing wealth, prosperity, and good fortune.
- The act of buying gold coins on Dhanteras is rooted in tradition and is believed to ward off evil and bring good luck.
Investment Value:
- Gold coins are a secure and tangible way to invest, and gold historically retains its value, even appreciating over time.
Variety and Availability:
- Various jewellers and vendors offer a range of gold coins in different weights and designs, catering to the diverse preferences of buyers.
Promotions and Discounts:
- During Dhanteras, many jewellers offer discounts and special promotions, making it an opportune time for individuals to invest in gold coins and other gold items.
Popular Demand:
- The demand for gold, especially in the form of coins and bars, surged during Dhanteras, reflecting the cultural importance of this tradition.
The tradition of buying gold coins on Dhanteras encapsulates both the cultural richness and the practical investment mindset of individuals. The variety of gold coins available, coupled with the auspiciousness of the occasion, makes Dhanteras a significant event in the Indian gold market. This tradition not only contributes to the festive spirit but also impacts the gold market dynamics.
Dhanteras gold offers
Dhanteras, celebrated on November 10th 2023, is considered an auspicious occasion for buying gold and silver items in India, including coins, bars, pendants, and jewellery. Various offers and discounts are provided by both online platforms and local jewellers during this festival to entice buyers. Here’s a glimpse of some offers available during Dhanteras:
Online Shopping Festivals:
Platforms like Amazon and Flipkart hold special sales events like the “Great Indian Festival Sale” and “Big Billion Days Sale” respectively, offering discounts on gold items which can be more competitive than retail jewellers’ prices.
Specific Online Offers:
Some online discounts available in 2023 include a 10% discount on a 2 gm gold coin pendant from Himanshu, a 9.5% discount on a 2 gm Goddess Lakshmi gold pendant from Waman Hari Pethe Jewellers, and a 4% discount on a 2 gm gold pendant from MMTC-PAMP, with the discounts often being a combination of bank discounts and cashback or coupons.
Advance Booking Offers:
Malabar Gold offered an advance booking scheme where customers could book gold jewellery by weight in advance to Dhanteras and complete the purchase on Dhanteras at the pre-booked gold rate or the current gold rate, whichever was lower. This offer allowed customers to save if gold rates were higher on Dhanteras.
Jeweler-Specific Offers:
In previous years, leading jewellers like Tanishq, PC Jeweller, and others have provided cashback, discounts on making charges, and other exclusive benefits during Dhanteras.
Brand Promotions:
Some brands offer discounts of up to 20% on making charges of gold and diamond jewellery, or up to 25% off on specific types of jewellery.
Digital Gold Offers:
Platforms like Google Pay and Paytm also offer the option to buy digital gold, with special offers available during Dhanteras.
These offers provide an opportunity for individuals to buy gold at lower prices or with added benefits, making Dhanteras a favourable time for such investments. Buyers are encouraged to compare prices and offers both online and offline to make the most out of the available deals.
Dhanteras, celebrated two days before Diwali, is considered an auspicious occasion for buying gold and silver in India as it is believed to bring prosperity and good fortune. The tradition of buying gold on Dhanteras has a rich cultural significance and is widely observed by many across the country. During Dhanteras, it’s believed that purchasing gold invites the blessings of Goddess Lakshmi, the deity of wealth and prosperity.
On Dhanteras 2023, which falls on November 10th, there are specific muhurats (auspicious times) suggested by astrologers for buying gold, which are believed to enhance the positive outcomes of the purchase. The muhurats are based on various astrological calculations and are as follows:
General Muhurat for Buying Gold and Silver:
The auspicious time to buy gold and silver on Dhanteras 2023 starts at 2:35 PM on November 10, 2023, and lasts until 6:40 AM on November 11, 2023.
Specific Muhurats on November 10, 2023:
- Dhanteras Puja Muhurat: 5:47 PM to 7:43 PM, lasting for 1 hour and 56 minutes.
- Dhantrayodashi Muhurat for buying gold: 6:46 AM to 3:27 AM (next day), with the duration being 20 hours and 41 minutes. Within this time frame, the auspicious Choghadiya timings are from 6:46 AM to 10:39 AM.
- Another source mentions the Dhanteras Muhurat from 5:47 PM to 7:43 PM, coinciding with the Dhanteras Puja Muhurat, with additional timings for Pradosh Kaal from 5:30 PM to 8:08 PM.
These muhurats provide a guideline for those looking to make the most out of the tradition of buying gold on Dhanteras. While these timings are based on astrological predictions, individual preferences and beliefs play a significant role in the decision-making process. The tradition of buying gold on Dhanteras is a blend of cultural, religious, and astrological factors, making it a unique and cherished practice.
FAQ
Does gold price increase during Dhanteras?
Yes, the demand for gold usually increases during Dhanteras due to the tradition of buying gold on this auspicious day. The heightened demand can lead to an increase in gold prices. However, the extent of the price increase can also be influenced by other global and local economic factors.
Should you buy gold on Dhanteras?
Buying gold on Dhanteras is a personal choice that often stems from cultural and traditional beliefs. It is believed to bring prosperity and good luck. If you believe in this tradition or see a good investment opportunity, buying gold on Dhanteras might be a good idea.
Can we buy gold on Dhanteras?
Yes, you can buy gold on Dhanteras. In fact, it is considered very auspicious to buy gold on Dhanteras in many parts of India. Many jewellers also offer special discounts and promotions on gold jewellery and coins during Dhanteras.
Dhanteras gold price 2023 for 22k?
The exact price of 22k gold on Dhanteras 2023 may vary based on several factors including global market conditions, currency exchange rates, and local demand-supply dynamics. It's advisable to check with reputable jewellers or financial market updates closer to the date for the most accurate pricing.