Buying Gold on Dhanteras
Dhanteras is the first day of the five-day Diwali festival, two days before Lakshmi Puja, and is India's busiest day of the year for buying gold, silver and new utensils. In 2026 Diwali falls on 8 November, which places Dhanteras around 6 November; check your local panchang for the exact trayodashi timing. The festival does not set the gold price, so compare making charges and offers rather than waiting for a lower rate.
What Dhanteras is
The name combines dhan (wealth) and teras (the thirteenth lunar day). It falls on the trayodashi of the dark fortnight in the month of Kartik in the north Indian calendar (Ashwin in the southern and western calendar), and is also called Dhantrayodashi. The day honours Lakshmi, Kubera and Dhanvantari, the physician of the gods, which is why India also marks National Ayurveda Day on Dhanteras. Lamps are lit at the entrance in the evening, and buying something new for the home is considered a way to welcome prosperity.
What people buy
| Item | Why | Practical note |
|---|---|---|
| Gold coins and jewellery | Wealth that lasts; often kept for Lakshmi Puja | Coins carry lower premiums than jewellery |
| Silver coins (often Lakshmi-Ganesh) | Affordable auspicious purchase | Check the fineness (999 or 925) and the shop's buy-back terms |
| Steel, brass or copper utensils | Traditional new purchase for the kitchen | No investment value; buy what you need |
| Broom (jhadu) | Symbolises sweeping away poverty | Common in north India |
| Vehicles, appliances, electronics | Modern extension of buying new things | Festival financing offers are common |
Gold rate around Diwali
Indian rates are built from the international price, the rupee exchange rate and the 6% import duty (see the live India gold rate). Dhanteras demand can tighten local supply so dealers' discounts narrow or turn into a small premium, but the main driver remains global trading. In years when prices have risen sharply before Diwali, buyers have tended to buy lighter pieces or more coins rather than skip the purchase altogether; volumes fall while the money spent stays more stable.
An illustrative bill
Suppose the 22K rate is ₹12,274 per gram and you buy a 10 g pair of bangles with a festival making charge of 9% (instead of the usual 14%):
| Item | Calculation | Amount |
|---|---|---|
| Gold value | 10 g × ₹12,274 | ₹1,22,740 |
| Making charge | 9% of ₹1,22,740 | ₹11,046.60 |
| GST | 3% of ₹1,33,786.60 | ₹4,013.60 |
| Total | ₹1,37,800.20 |
At the usual 14% making charge the gold value plus making would be ₹1,39,923.60 and the total ₹1,44,121.31, so the offer saves ₹6,321.11. That saving is larger than a typical day's move in the gold price, which is why the offer matters more than the timing. Try your own figures in the jewellery price calculator.
Sensible buying checklist
- Set a budget in grams, not rupees, so a price move does not push you into a heavier piece than planned.
- Check the BIS hallmark and HUID on every piece and verify it in the BIS CARE app (how).
- Read the offer. "Up to 50% off making" usually applies to selected designs; "zero making" may be limited to coins or light items. Ask for the making charge as a percentage or per gram on your actual piece.
- Weigh stones separately. For studded jewellery, get gross weight, net gold weight and stone weight on the invoice.
- Ask about exchange and buy-back before paying, especially for coins bought from a jeweller rather than a bullion dealer.
- Pre-book if the shop offers rate protection and you are worried about a rise; confirm whether you get the lower rate if prices fall.
- Keep the GST invoice for future exchange, insurance and capital gains.
- Pay digitally or by card for large amounts and keep the receipt.
Digital and paper alternatives
If the purchase is about saving rather than wearing, a lower-cost format may suit better:
- Gold ETFs and gold mutual funds track the price with an annual expense ratio and no GST or making charge; they need a demat account (ETFs) or a fund account (fund of funds). See gold ETF vs physical gold.
- Digital gold on payment apps lets you buy from small amounts with 3% GST and a buy-sell spread, but it is not regulated by SEBI or RBI. See digital gold in India.
- Existing sovereign gold bonds can be bought on the stock exchange; no new tranches have been issued recently. See sovereign gold bonds.
Some families combine the two: a small coin for the Lakshmi Puja and the rest of the budget in an ETF or fund.