Gold and silver prices fell sharply on Friday, November 6, 2026, handing buyers a rare break just as Dhanteras shoppers hit the jewellery counters. In Hyderabad, 24-carat gold slipped Rs 2,560 in a single day to Rs 1,43,460 per 10 grams.

The drop matters because Dhanteras is one of the most important buying days on the Indian calendar. Many families buy gold or silver on the day, place it in the puja room and pray over it, believing the purchase brings good fortune. This year, the timing could not be better for those who had been waiting on the sidelines.

Gold had climbed steadily at the start of the week before Friday’s sharp reversal. By the time the markets closed their latest trading session, the rally had been erased for many buyers.

How the numbers stack up across the country

In Hyderabad, 22-carat gold, the purity most commonly used for jewellery, fell Rs 2,350 to Rs 1,31,500 per 10 grams. The 24-carat rate stood at Rs 1,43,460 per 10 grams.

Delhi priced 24-carat gold at Rs 1,43,610 per 10 grams, while 22-carat gold was at Rs 1,31,650. In Chennai and Bengaluru, 24-carat gold was at Rs 1,43,460 and 22-carat gold at Rs 1,31,500.

What it means for buyers in Andhra Pradesh and Telangana

For families in Telangana and Andhra Pradesh, the price drop lands at a moment when many are planning their purchases. Hyderabad rates set the benchmark for the state, and the same prices are being quoted in Vijayawada and Visakhapatnam. That means a buyer in Andhra Pradesh is seeing the same 24-carat and 22-carat figures as a buyer in Hyderabad, with no regional premium showing up in the reported rates. Buyers in both states now have a clearer picture before they walk into a showroom.

Silver followed the same downward path. In Delhi, a kilogram of silver was priced at Rs 2,05,000, down from Rs 2.10 lakh the previous day. That is a fall of Rs 5,000 in one session. Hyderabad also traded silver at Rs 2,05,000 per kilogram.

Why prices moved so fast

The reporting points to a mix of global and domestic pressures hitting the market at once. The outcome of the US midterm elections, which saw Donald Trump lose, was cited as one factor shaking gold prices. Crude oil prices also collapsed, and a weakening dollar added to the pressure on the metal.

Festival demand and investor interest worked in the other direction for part of the story. Gold is widely seen as a safe investment during uncertain times, and money flowing into the metal has added to the swings. The result is a market that has been pulled in multiple directions within the same week.

Gold and silver prices are reversing within hours, and the swings are arriving just as Dhanteras demand peaks.

That volatility is the biggest warning for anyone planning a purchase. The prices quoted in the morning may not hold by afternoon, so buyers who are watching the market closely may find a window to act. Those who wait for a steady trend may find the rates moving again before they reach the counter.

The bigger picture for the festive season

Dhanteras has always been a test of gold demand, and this year it arrives with prices already in flux. The combination of a sharp one-day decline, strong festival sentiment and global cues from the US and oil markets has made the metal one of the most watched assets this week.

For shoppers, the immediate story is simple. Gold and silver are cheaper on Dhanteras than they were at the start of the week, and the rates in Hyderabad, Vijayawada, Visakhapatnam, Delhi, Chennai and Bengaluru are all sitting at similar levels. Whether the relief lasts through the weekend will depend on the same forces that pushed prices down in the first place.