Dhanteras 2024: Why Gold Demand Jumps During This Festival? Check Puja Muhurta, Date & Time

Gold demand witnesses a surge every year in India on Dhanteras. Investing in yellow metal during Dhanteras and Diwali is considered highly auspicious as it can bring prosperity and good luck. Dhanteras is an important festival in Hindu religion. Dhanteras is celebrated on the 13th day of the Krishna Paksh during Kartik month as per the Hindu calendar. Scores of people in India flock to jewellery shops to purchase gold and silver coins on Dhanteras.

This year the festival will be celebrated on October 29, 2024. Apart from gold, silver purchase, people also like to invest in electronics, property, and other utensils. People worship Lord Kuber and Goddess Lakshmi on Dhanteras and seek their blessings.

However this year, gold prices hit a new high before Dhanteras and left yellow metal buyers disappointed.

Gold Prices India Today: Gold prices in India today hit fresh high amid Middle East conflict and uncertainty hovering around US election that pushed demand for safe-haven assets. 22K gold prices today jumped by Rs 400 to Rs 73,400/10 grams and 100 grams of 22 carat yellow metal prices today surged by Rs 4000 to Rs 7,34,000. It is worth mentioning that 24k gold prices today crossed 80k mark as prices jumped to Rs 80,070/10 gram after the gain of Rs 430. 100 grams of 24 carat precious metal prices today rose by Rs 4300 to Rs 8,00,700 today. As per Drik Panchang, Diwali festival in India will be observed on October 31, 2024.

Gold prices recorded steep rally since October 24, 2023 as prices of 22k gold prices soared by Rs 29.8%. 1 gram gold rate of 22k was Rs 5655 on October 24, 2023 and today the price is quoting Rs 7340, indicating a jump of 29.8%.

18 carat gold prices today gained Rs 330 to Rs 60,060/10 grams and 100 grams of 18k gold price today jumped by Rs 3300 to Rs 6,00600.

Dhanteras 2024, Date and Time: The festival will start on October 29, 2024 at 12:01 am and will end on October 30, 2024 at 2:45 am.

Dhanteras Puja Muhurta: It will start on October 29, 2024 at 7:27 pm and will last till 9:16 pm.

Significance of Dhanteras: Dhanteras has been derived from the words "Dhan" (wealth) and "Teras" (the 13th day). It is celebrated on the 13th day of the lunar calendar. This day also holds importance in honoring the birth of Lord Dhanvantri. As per Hindu mythology, Lord Dhanvantari is considered as the divine physician, an incarnation of Lord Vishnu. As per legend, he came out from the ocean during the Samudra Manthan with a pot of nectar that possessed power to grant immortality. The festival holds huge cultural and traditional significance in Indian society. On this day, it is believed that buying gold can bring good luck and keep you protected against evil powers.