Dhanteras 2025 Surprise: Silver Outshines Gold This Festive Season

Diwali, beginning with Dhanteras, is a time when many purchase household items and precious metals like gold and silver. This year, as gold prices soar to record highs, consumers are increasingly turning to silver. In Indore, gold has become too costly for many, while silver is in short supply due to high demand from buyers in Madhya Pradesh's financial hub.

On October 16, gold prices surged by Rs 1,185 to reach an unprecedented Rs 1,28,395 per 10 grams in domestic futures trade. Globally, the yellow metal surpassed $4,250 per ounce. This spike was driven by expectations of US Federal Reserve interest rate cuts and ongoing geopolitical tensions. However, some profit booking led to a slight price dip later in the day.

Silver's Rising Popularity

Silver has seen a remarkable rally of over 70% in 2025. Bullion traders attribute this to its appeal as an investment option offering high returns over the years. Ratan Jain, a trader in the bullion market, noted that people are drawn to silver due to its rising prices and potential for good returns.

Jain further explained that increased investor demand and industrial use have contributed to the surge in silver prices. The festive season has also boosted purchases. Another trader, Jinendra Dungarwal, highlighted that despite rising silver prices, demand continues to grow. He mentioned that securing silver at Rs 20,000 above the wholesale rate is challenging.

Impact on Diwali Shopping

The high costs of gold and silver have altered Diwali shopping habits. More customers are visiting silver jewellery shops than those selling gold ornaments. Dungarwal pointed out that due to expensive gold jewellery, many opt for gifting silver pieces instead.

The marriage season is still months away; however, speculation about further price hikes has prompted early purchases for weddings scheduled for January-February next year. Meanwhile, some customers express disappointment over skyrocketing prices affecting their Diwali celebrations.

Ritika Bhavsar shared her concerns about how lower middle-class families struggle to afford gold during this festive period. She believes this will impact their happiness during Diwali celebrations.

In Indore's bullion market on October 15, gold was priced at Rs 1,31,200 per 10 grams while silver stood at Rs 1,80,500 per kilogram. These high prices have created an unusual situation ahead of Diwali starting with Dhanteras on October 18.