Gold and silver prices see sharp correction ahead of Dhanteras 2026
Precious metals have undergone significant price drops after reaching record highs earlier this year, according to reports from Moneycontrol and Business Standard.
Gold and silver prices have experienced a sharp correction following a period of strong performance, according to reports by Moneycontrol and Business Standard. Domestic 24-carat gold was trading between Rs 1,40,000 and Rs 1,41,500 per 10 grams ahead of Dhanteras on November 5.
The metal had previously reached a peak of Rs 1,80,000 per 10 grams, representing a correction of approximately 30 per cent from those highs. Moneycontrol reported that MCX gold fell around 7 per cent in a month, while silver dropped about 20 per cent.
Business Standard reported that Monarch Networth Capital views this decline as a technical deleveraging event rather than a trend reversal. The fund house attributed the fall to the unwinding of leveraged positions following shifts in US monetary policy expectations and higher margin requirements on the Chicago Mercantile Exchange (CME).
Dhruv Joglekar, Assistant Fund Manager at Monarch PMS, said that the correction has removed speculative excess while macroeconomic tailwinds remain. He noted that gold has seen a year-on-year gain of roughly 7-8 per cent compared to the Rs 1,30,860 per 10 grams recorded on Dhanteras on October 18, 2025.
Monarch's valuation model estimates a fair-value range for gold between $3,248 and $4,595 per ounce. The fund house suggested that for long-term investors, the current period represents a classic entry point.
