Guwahati: Retail gold prices in Guwahati took an unprecedented pre-festive leap today, catching thousands of Dhanteras shoppers off-guard. The benchmark price for 10 grams of 24-karat gold surged by a staggering ₹6,110 in a single day to hit an all-time high of ₹1,46,020, fueling deep anxiety among local families preparing for the traditional auspicious shopping rush.
The ripple effect hit jewelry hubs across Assam instantly. The price for 22-karat gold—the preferred purity for bridal sets—shot up to ₹1,33,850 per 10 grams, while 18-karat gold cleared the six-figure milestone at ₹1,09,520.
Market analysts point to a perfect storm of global geopolitical tensions and a sudden domestic supply squeeze right as festive demand peaked.
"We anticipated a standard pre-Dhanteras uptick, but a single-day surge of over 2% is highly unusual," said an independent bullion trader operating out of Guwahati's Fancy Bazaar. "Investors are panic-buying out of fear that prices will breach the ₹1.5-lakh mark before the main festival day arrives."
The sticker shock is altering consumer behavior on the ground. Footfall at flagship showrooms along GS Road remained steady, but long-time patrons are visibly scaling back their weight expectations.
"I came out to book a traditional Assamese jon biri necklace set for my daughter's upcoming wedding," said local resident Anjali Boro. "With prices spiking so wildly overnight, we are forced to settle for a lighter, hollow design, or switch entirely to gold coins to completely bypass the steep artisan making charges."
Jewelers expect a heavy shift toward lightweight 18k jewelry and digital gold alternatives as buyers attempt to preserve the tradition of bringing gold home for Dhanteras without breaking their annual household budgets.