Dhanteras is considered one of the most auspicious occasions to buy gold in India, but investors who missed purchasing the precious metal this year could still make do with buying some gold. Gold prices have seen considerable volatility in 2026, moving sharply below their record highs before recovering in the run-up to the festive season.
On Friday (Dhanteras), MCX gold futures settled around Rs 1.42 lakh per 10 grams after falling during the session. Gold had earlier touched significantly higher levels during the year, making the recent correction relevant for investors considering an entry.
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However, the question remains whether buying gold after Dhanteras still makes sense? And the answer, keeping the festive tradition aside, or from an investor's objective and given the considerable correction from its 2026 highs, is yes.
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Domestic gold prices were around Rs 1.42 lakh per 10 grams during Dhanteras, compared to record levels of about Rs 1.81 lakh earlier in the year, according to Reuters. Prices had fallen to around Rs 1.38 lakh earlier in the week, their lowest level since March.
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The correction has brought valuations down substantially from peak levels, although prices remain elevated compared to historical averages. This means investors should distinguish between a cheaper price relative to the year's high and gold being inexpensive in absolute terms.
Gold is generally viewed less as a high-growth asset and more as a portfolio diversifier.
Its investment value tends to strengthen during geopolitical uncertainty, currency weakness, concerns over inflation or volatility in financial markets.
Some market analysts continue to see long-term value in gold despite near-term price swings. Axis Securities, for instance, recently said the correction could offer investors who missed the earlier rally an opportunity to add gold gradually to their pottfolio.
Instead of trying to identify the exact bottom, an investor looking to build a long-term gold allocation could spread purchases over several months.
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FOMO cannot be a strong investment strategy and even as Dhanteras is over it does not alter gold's investment characteristics. Similarly, an investor does not need to rush into the asset simply because prices have corrected.
A more useful question is whether gold fits into an investor's overall portfolio.
Someone who already has significant exposure to gold through jewellery, exchange-traded funds or other instruments may have little reason to increase the allocation aggressively.
For an investor with little or no gold exposure, gradual accumulation can be considered as part of a diversified portfolio, depending on an individual's financial goals and risk appetite.
The choice of investment too matters. So, if you're unsure whether to invest in physical gold or ETFs, here's a short breakdown on preference and cause of purchase. Those buying gold for jewellery, gifting or personal consumption may naturally prefer physical gold. But jewellery comes with making charges and other costs, which can reduce its efficiency purely as an investment.
Moreover, Gold ETFs make it easier for investors to buy smaller amounts and gradually build their portfolio.
Existing sovereign gold bonds continue to trade in the secondary market, although investors should pay attention to liquidity, market price and the terms of individual bonds. The Reserve Bank of India continues to publish redemption schedules for outstanding SGB tranches.
Nonetheless, high prices have impacted how much gold Indians are buying. According to World Gold Council data, India's jewellery demand by volume declined during the first nine months of 2026, while spending rose sharply because of higher gold prices. Jewellery demand value in the third quarter was 16% higher year-on-year even as consumers bought lower volumes.
Demand improved around Dhanteras not just because of traditions, but because prices were lower compared to earlier peaks. The India Bullion and Jewellers Association expected Dhanteras sales to rise by about 10% from the previous year, Reuters reported.
So, despite having missed out on purchasing gold during Dhanteras, it does not mean one has missed out on a gold investment opportunity.
Disclaimer: This article is for information purposes only and should not be considered as investment advice. Investors should assess their financial goals and risk profile or consult a qualified investment adviser before making investment decisions.
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