Gold Prices Remain High Ahead of Festive Season
India's gold market is bracing for a challenging festive season as prices remain 9% higher than last year's peak. Despite this, industry players expect sales volumes to be lower due to consumers becoming more selective and cautious in their purchases.
Last year's festive period saw gold prices hovering between Rs 1.22 lakh to Rs 1.34 lakh per 10 grams during October 2025. Fast-forward to September 29, 2026, and gold was trading just above Rs 1.46 lakh per 10 grams on the Multi Commodity Exchange (MCX), with an all-time high of above Rs 2 lakh per 10 grams reached in January 2026.
Gold prices continue to be a concern for consumers, who are now more discerning about their purchases. Jewellers typically track domestic spot gold prices and making charges while determining jewellery prices, which can vary across retailers and cities.