Markets
For millions of families in India and Britain, this is the week to buy gold.
Why Dhanteras matters for gold
Dhanteras opens the five days of Diwali and is traditionally the most auspicious day of the year to buy gold and silver, from coins and small bars to jewellery. The World Gold Council has called Dhanteras and Diwali the top gold-buying occasions in India. In 2026 Dhanteras falls on Friday 6 November and Lakshmi Puja on Sunday 8 November, Drik Panchang lists.
A different market from last year
Gold set its record on 29 January 2026 and has fallen back since, touching a one-year low on 30 October. CNBC reported on 6 November that lower prices had encouraged Indian retail buying ahead of Diwali. Indian buyers had already been moving from jewellery to coins and bars: in the second quarter, according to the World Gold Council, Indian bar and coin demand rose 9% to 50.3 tonnes while jewellery demand fell 15% to 75.1 tonnes. The council's third-quarter India figures were due in early November, StoneX Bullion noted.
Gold bought for Dhanteras is often bought to be handed down.
The British side of the festival
Britain's Indian community keeps the same traditions, and jewellers in Leicester, Southall, Wembley and Birmingham see their busiest week of the year around Diwali. Much of this gold is 22ct, the traditional standard for wedding and festival jewellery, and it is often bought as a gift or a keepsake rather than as an investment, StoneX notes.
If you are selling 22ct gold
22ct jewellery is hallmarked 916 in the UK, and handmade pieces are valued on workmanship as well as weight. Ask for each piece to be tested and assessed separately. Send us photographs for a free valuation, or post your gold to us insured.
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