Gold or silver on Dhanteras: Which should you buy?

Key takeaways:

Silver gained 29.30% over the past year, outperforming gold's 16.05% rise as of October 14, 2026.
Silver fell 9.24% in one month, compared with a 2.29% decline in gold, highlighting its higher price volatility.
Gold may suit long-term savings and jewellery purchases, while silver is a more affordable option for festive gifting and puja.
Gold and silver ETFs allow investors to gain exposure to these metals without storing them physically. Gold ETFs require a demat and trading account.
Before buying physical gold or silver, verify hallmarking details, compare prices, and check making charges, taxes and buyback terms.

Dhanteras is one of the most popular occasions in India to buy gold and silver. But as precious metal prices are at elevated levels, choosing between the two can be difficult. As of October 15, 2026, gold was trading at around ₹1.47 lakh per 10 grams, while silver was priced at approximately ₹2.08 lakh per kg, according to Bullions India.

So, which metal should you buy this Dhanteras? Gold may appeal to buyers looking for jewellery, long-term savings or portfolio diversification, while silver offers a more affordable entry point and has both investment and industrial uses.

However, the two metals differ in price movements, risks and investment potential. Here's how they compare and what you should consider before making a purchase.

How do gold and silver prices compare before Dhanteras 2026?

Silver has gained more than gold over the past year. It has also fallen faster over the past month.

Metal	Price per 10 gms	Change in 1 month	Change in 1 year
Gold (24K)	₹1,46, 090	-2.29%	+16.05%
Silver (999)	₹2,083	-9.24%	+29.30%

Source: Bullions India, 14 October 2026

At these rates, one gram of gold costs about 70 times as much as one gram of silver. Global prices demonstrate the same pattern, where silver swings harder. According to Equiti, Silver is 50% below its January record of $121.62 per ounce. Gold, near $4,140, is about a quarter below the $5,500 plus it touched that month.

Gold vs silver: A quick comparison on what to buy on Dhanteras

Gold remains a purchase for families or investors on Dhanteras. Investing in digital gold removes the barrier to affordability entirely.

Factor	Gold	Silver
Price per gram (Oct,2026)	₹14,740+	₹230
Overall appeal	Long-term value, jewellery and investment	Gifting, utensils, coins and jewellery at a lower entry cost
Symbolism	Cultural and religious, Goddess Lakshmi	Cultural/religous significance, auspicious, Secondary to gold
Investment budget	₹10k+ for digital investment 15k+ for visible/physical form	₹500-1k for a physical coin
Price behaviour	Can fluctuate with global uncertainty, interest rates, currency movements, and investor demand	Can be more volatile because investment demand and industrial demand both influence prices
Long-term value retention	Strong, historically stable	More volatile, driven by industrial demand
Best form factor for gifting	Jewellery, gold coins and others	Silver coin

Gold vs silver: Which should you buy based on your goal?

Based on your reason for purchase or investment goals, choose whether gold or silver proves to be a better option. You can also allocate budget across both metals. For example, gold for long-term saving, and a small silver coin for the ritual or gifting.

Your investment goal	Best option to choose	Why is this the best option to choose?
Modest budget For gifting purpose For Puja	Silver	Ten grams cost only about ~₹2,300
Long-term saving Wedding purchase	Gold	It has swung less in 2026 and holds more value per gram
Choosing an investment with a high risk appetite	Silver	It has gained and fallen more
Strict purity check on jewellery	Gold	HUID is mandatory
Easy to exit and no storage required	Gold or Silver ETF	Units trade on exchanges and turn long-term after 12 months

What has changed for Dhanteras buyers this year?

Here are a few things you should know if you're planning to buy gold this Dhanteras.

The rupee hit a record low of 95.6 per dollar on 12 May. Later on 13 May, India raised import duty on gold and silver to 15% from 6%. Because the government wants to curb imports and support the rupee. The duty affects both metals alike.
World Gold Council expects India's jewellery and bar-and-coin gold demand to fall by 50 to 60 tonnes in 2026, about 10%, after the hike.
Buyers were already shifting last year. PTI reported silver coin sales going up 35 to 40% year on year on Dhanteras 2025.

Gold vs silver: Who should buy what?

Gold and silver serve different investment needs, so the right choice depends on your budget, risk tolerance and investment goals. Here's who should consider buying each metal.

Who should buy gold?

Gold may suit long-term investors looking to diversify their portfolios, buyers saving for weddings, and those who prefer relatively lower price swings than silver. Those buying gold purely for investment may consider coins or bars to avoid the higher making charges associated with jewellery.

Investors who prefer market-linked investments without storing physical gold can consider gold ETFs, which require a demat and trading account.

Who should buy silver?

Silver may suit buyers with a smaller budget, those purchasing gifts or puja items, and investors willing to accept higher price fluctuations. At around ₹2,300 per 10 grams, it costs considerably less than gold, making it more accessible.

However, silver prices are influenced by both investment demand and industrial use, which can make returns less predictable. The Silver Institute expects the silver market to remain in deficit for a sixth consecutive year in 2026.

How to check purity when buying gold or silver on Dhanteras?

According to the Bureau of Indian Standards, hallmarking applies to both metals. It is intended to provide quality and purity assurance on the said precious metal. For hallmarked gold and silver jewelry, check the BIS mark, purity marking, and unique six-character alphanumeric HUID.

Always get a detailed bill showing weight, purity, metal rate, and making charges along with applicable taxes. Verify the HUID and purity details for both metals using the official BIS CARE app. Remember to read the exchange and buyback terms before making payment.

Conclusion

Gold may suit buyers looking for long-term savings, portfolio diversification or jewellery, while silver can be a more affordable option for festive purchases and investors comfortable with higher price fluctuations. The right choice depends on your budget, investment goals and risk tolerance.