Gold price crashes Rs 2,000, silver down by Rs 3,000 on Dhanteras 2026; time to buy?

Dhanteras 2026: Gold and silver prices crashed on Dhanteras 2026 in line with the global market rout on Friday. The weakness in the prices of precious metals came despite a rally in the Indian stock market.

On MCX, gold prices tumbled by Rs 2054 per 10 gms to Rs 1,42,061 in early deals today. Gold prices opened at Rs  142161 against the previous close of Rs 144095. They fell to a low of Rs 141808 before trimming losses. 
 
Silver too crashed by Rs 3106 to Rs 1,84,035 per kg. Silver prices fell to an intra day low of Rs 1,83,700 against the previous close of Rs 1,87,140.

Amid the current fall in silver and gold prices, Vandana Bharti, Head of Commodity Research, SMC Global Securities expects a rally in the prices of precious metals in the next one year.

"14 to 15% in gold and 18 to 22% in silver, and this is the CAGR from last10 years. So at least we can expect that," said Bharti.

"Despite this massive fall, we are still in positive situations when we do the comparison in terms of one years of return from Dhanteras to Dhanteras. This time, we have seen a massive fall in the prices, but yes, this is the time for bottom out, and the last quarter is always a very good strong for gold and silver," added Bharti.

According to independent research analyst Anuj Gupta, gold and silver prices eased as rising oil prices fueled inflation concerns and strengthened expectations of higher-for-longer interest rates. "Two Fed officials supported gradual rate increases, with markets pricing in a 68% probability of a December hike. Goldman Sachs cut its gold price forecasts to $4,150 for end-2026 and $4,800 for end-2027. However, World Gold Council data showed global gold ETFs attracted $2.7 billion in October inflows. Technically, gold near $4,020 offers buying opportunities toward $4,080–$4,120, while MCX gold may target Rs 1,43,000– Rs 1,45,000. Silver near $50 offers buying opportunities toward $54–$56, while MCX silver may target Rs 1,88,000– Rs 1,92,000," said Gupta.

Ponmudi R, CEO of Enrich Money said, "For gold, immediate resistance is placed at Rs  143,000– Rs 143,700, followed by Rs 145,300–146,000. On the downside, immediate support lies at Rs 140,000–141,000, with the next important support zone at Rs 137,500–138,300. The RSI, currently near 43, remains below the neutral 50 mark, indicating that the recent recovery lacks sufficient momentum. The near-term bias remains cautiously weak, with a sustained recovery above  Rs 143,700 needed to stabilise prices. A decisive break below Rs 140,000 could trigger a deeper correction towards Rs 138,300."

Gold, meanwhile, advanced to a two-week high on Thursday, buoyed by a weaker US dollar and declining US Treasury yields following the midterm elections. The dollar slipped to its lowest level since September 30, providing additional support to bullion. Gold has surged by more than $250 this week after staging a strong recovery from a one-year low of around $3,870.

On silver prices, Ponmudi said, "MCX silver prices are testing the Rs 186,000–188,000 zone from below, which represents immediate resistance. A sustained move above this range could open the way towards Rs 194,000–196,000. On the downside, immediate support is placed at Rs 178,000–180,000, followed by Rs 170,000–172,000. The RSI, near 31, is approaching oversold territory, increasing the possibility of a technical rebound. However, the indicator remains below its signal line, suggesting that the broader momentum continues to favour sellers. The near-term bias remains cautiously weak, with a sustained recovery above Rs 188,000 required to improve the technical outlook. A decisive break below Rs 178,000 could accelerate the decline towards Rs 170,000–172,000."

Silver prices have retreated after their recent post-election rally, as investors remain cautious amid uncertainty over the Federal Reserve's interest-rate outlook and ahead of the crucial US nonfarm payrolls data. Although sustained industrial demand continues to provide support to the metal, the appreciation of the Indian rupee is restricting further gains in domestic silver prices by reducing the benefit of currency movements.

Investors are now awaiting the US nonfarm payrolls report, due later today, for fresh clues on the Federal Reserve's monetary policy direction. The employment data could shape expectations around future interest-rate decisions and determine whether the recent weakness in the dollar and Treasury yields continues, potentially influencing the near-term trajectory of precious metals.