Gold price falls on Dhanteras, silver remains unchanged; What to buy on Dhanteras

With the start of the Diwali festival, the market witnessed a steady dip in the Gold rates on the day of Dhanteras while the price of silver remained unchanged.

Notaby, Gold prices for both 22 and 24-carat weights have dipped marginally to Rs 47,050 and Rs 50,600 with one gram of 22-carat gold available at Rs 4,635 as on October 22, 2022.

On the other hand, silver prices remained unchanged at Rs 57,700 per kg.

Speaking to India Today NE Ashok Minawala, Spokesperson of All India gems and jewellery trade federation said, "From the last couple of days the price of both gold and silver are falling, however, we speculated it will rise but with the market condition it has remained static".

Notably, Dhanteras which is regarded as the most auspicious day for buying as it is said to bring good fortune, people tend to buy gold in the form of bringing in luck.

Here are the latest prices of gold on Dhanteras 2022.

24K gold: ₹50,600 per 10 gms

22K gold: ₹47,050 per 10 gms

18K gold: ₹37,547 per 10 gms

14K gold: ₹29,286 per 10 gms

On the other hand, if you are still planning to buy something auspicious on Dhanteras 2022, then these are the probable option:

Gold and silver coins

The ritual of purchasing precious metals at Danteras is believed to date back to the story of King Hima's son who was prophesied to die from a snakebite on the fourth day of his marriage. 

However, his wife decorated her place with ornaments and when Lord Yama, the god of death, visited them, he was distracted by the ornaments and lights, leaving the couple alone.

Utensils

It is considered auspicious to purchase utensils on Dhanteras, however, avoid utensils made from iron and steel. Utensils made of copper, silver, brass or gold are preferred on Dhanteras. It is believed that purchasing utensils brings wealth and prosperity to the household.

Electronics

With this generation, people wait on Dhanteras to do online shopping wherein heavy discounts could be availed while buying electronic products like computers, mobile phones, refrigerators, and microwaves which is again regarded auspicious on this day.

Idols of Gods and Goddesses

People also buy idols of God and Goddesses on Dhanteras. Notaby, on Diwali, Lord Ganesh and Goddess Lakshmi are worshipped to bring wealth and luck to the family.