Every year, Dhanteras brings that familiar excitement — the glow of diyas, the sparkle of gold jewelry, and the hope that buying gold will invite prosperity into our lives. But this time, something feels different. Prices have jumped to record highs, and many people are quietly wondering, should I still buy gold, or just wait for it to cool down?
Let’s talk about what’s really happening and why this Dhanteras feels like a turning point for every gold buyer.
A Record-Breaking Rise on MCX
On Friday, October 17, 2025, both gold and silver prices witnessed an extraordinary rise on the Multi Commodity Exchange (MCX). December gold futures touched ₹1,31,699 per 10 grams — a record high, marking an increase of nearly ₹1,800 or about 1.4 percent. Silver too followed the same trend, with December futures reaching ₹1,68,950 per kilogram, gaining ₹1,300 or roughly 1 percent.
For anyone keeping an eye on the market, these numbers are breathtaking. Right before Dhanteras, when gold traditionally sees the highest demand, such a sharp climb has left everyone asking the same question — is this the start of another major rally, or the peak before a fall?
The Global Ripple Effect
The truth is, this rise isn’t just about India. Across the world, gold prices are on fire. Internationally, gold saw its biggest weekly jump since 2008. On Friday, global gold prices climbed 1.2 percent to reach 4,379.93 dollars per ounce, pushing the market capitalization to an astonishing 30 trillion dollars.
There are several reasons behind this rally. The tension between the United States and China has shaken global markets, making gold the safest place to park money. The US Federal Reserve is also expected to cut interest rates soon, which naturally boosts demand for gold. Even the dollar is weakening — the dollar index dropped by 0.20 percent — making gold cheaper for foreign investors. And as always, when the world feels uncertain, gold becomes the language of safety.
Festive Rush and Fear of Missing Out
Back home, the story is just as fascinating. Despite the high prices, demand for gold in India is rising sharply. The jewelry market is buzzing, and showrooms are crowded with people who simply don’t want to miss their chance.
Ajay Chawla, CEO of Titan’s jewelry division Tanishq, shared that customers are buying aggressively because they believe prices will climb even higher in the coming weeks. Normally, when gold gets expensive, buyers step back. But this time, something else is driving them — FOMO, the fear of missing out.
People aren’t just buying gold for the festival; they’re buying out of belief, emotion, and the feeling that this metal will always hold its value when everything else feels uncertain.
The Real Reasons Behind the Surge
If you look closer, the surge isn’t random. It’s built on a mix of fear, strategy, and confidence. Across the world, political and economic instability is making investors nervous. Central banks are purchasing large amounts of gold to safeguard their reserves. The US Federal Reserve’s possible interest rate cuts are pushing more people toward safer, non-yielding assets. And Exchange Traded Funds, or ETFs, are seeing heavy investments this year.
All these forces together have made gold one of the strongest assets of 2025. In fact, domestic prices have already jumped more than 65 percent this year alone — a stunning climb that reflects both global tension and investor faith.
Should You Buy Gold Now or Wait?
That’s the question on everyone’s mind. Renisha Chainani, Head of Research at Augmont, believes that the current rally is powered by global uncertainty, rate cut expectations, and continuous central bank buying. But she also warns that short-term profit booking could cause a small correction soon.
If you’ve already invested in gold earlier, you might consider booking partial profits. If you’re planning to buy now, take it slow. Don’t rush. Buy in small amounts over time. Timing the market perfectly is impossible — what matters is building your position steadily.
Because here’s the truth: gold isn’t just an investment; it’s an emotion, a sense of safety that no stock market crash can take away.
What This Means for You This Dhanteras
For those buying gold as part of Dhanteras tradition, this is still your moment. Festivals aren’t about timing the market — they’re about keeping faith alive. But if your goal is pure investment, then patience is your best friend.