Dhanteras 2026 Gold Price: Buying gold on the occasion of Dhanteras is considered very auspicious. In the year 2026, tremendous fluctuations have been seen in the price of gold. After hitting record highs earlier this year, gold prices have seen a sharp decline. In such a situation, there is only one question in the minds of people who are preparing to buy Dhanteras 2026. The question is, should gold be bought in this dip or will the price go further down?
According to brokerage firm Axis Direct, gold prices in the domestic market have fallen more than 20 percent from the 2026 peak (highest level). The decline is due to inflation concerns, rising crude oil prices, ongoing political tensions around the world and fears of an interest rate hike by the US Federal Reserve. Although the market seems weak in the short term, but for the long term market experts are expressing full confidence in gold. He believes that this decline has made it easier for long-term investors to enter the market. However, short-term traders need to be wary of price fluctuations right now.
Investors’ money tripled in 5 years
Gold has given excellent returns to investors in the last five years. Gold gained a lot due to economic uncertainty around the world, tensions between various countries, purchases of gold by central banks and expectations of interest rate changes. According to Axis Direct data, the price of 10 grams of gold in the domestic market in November 2021 was around Rs 47,600. In late October 2026, ahead of Dhanteras, it rose to around Rs 1,42,750 per 10 grams. That means gold has given a direct return of almost 200 percent in five years. If seen on a compound annual basis (CAGR), this growth comes to 24.53 percent.
However, this year has been full of ups and downs. According to Monarch Networth Capital, the price of 24 carat retail gold on October 18, 2025 was around Rs 1,30,860 per 10 grams, i.e. last Dhanteras. Before Dhanteras 2026, the price was around Rs 1,40,000 to Rs 1,41,500 per 10 grams. This is only an increase of 7 to 8 percent annually. This year’s modest gains compared to five-year bumper returns clearly show how big a correction gold has undergone since the tumultuous 2026 rally.
What should be the gold investment strategy this Dhanteras?
After prices fell from record highs, experts believe that Dhanteras 2026 could be a good opportunity for long-term investors to accumulate gold. But considering the interest rates, crude oil prices and global events, experts are refusing to invest all the money (lump sum) at once. Axis Direct says that for investors who missed out on the earlier rally, this 20 percent drop is a great opportunity to gradually add gold to their portfolios.
According to the brokerage firm, gold prices may see some volatility due to higher interest rates. But if economic conditions improve, gold can return 20 to 25 percent by next Dhanteras. Axis Direct by next Dhanteras for 10 grams of gold Rs. 1,65,000 to Rs. 1,71,000 has been targeted.
By the next Dhanteras, the price may reach Rs 1.80 lakh
Devya Gagalani, Senior Research Analyst, Commodities, Axis Direct, is also bullish on gold in the long term. He says gold may fall another 5 to 8 percent due to the expectation of interest rate hike by the US Federal Reserve. But the picture could change if tensions around the world ease or inflation comes under control. In such a scenario, the US Federal Reserve may start cutting interest rates, which will play a major role in boosting gold prices. Gaglani advised investors to start buying gold in installments at current lows. 1,65,000 till next Dhanteras to Rs. 1,80,000 per 10 gram gold target has been given.
The speculation bubble burst, now is the right time to invest
On the other hand, Dhruv Joglekar, assistant fund manager at Monarch PMS, believes that this sharp drop in gold prices has removed additional speculative pressure from the market. Because of this, the current levels have become quite attractive for long-term investors. According to Monarch Networth Capital’s valuation model, the fair value of gold in the international market ranges from $3,248 to $4,595 per ounce, with a midpoint of $3,922. October’s low of around $3,870 remained in this projected range. Joglekar made it clear that this is a classic entry point into the Dhanteras market for long-term investors. Speculation has been driven out of the market, while the fundamental economic factors supporting gold are still quite strong.
