With Diwali just days away, two important developments are drawing attention across India. Silver prices have witnessed a sharp recovery in the futures market, while Amul has increased the prices of ghee and butter, adding to household expenses during the festive season.
The developments come at a time when families are preparing for Diwali shopping, buying gold and silver, and purchasing ingredients for sweets and festive meals.
Silver Prices Surge by ₹5,100 After Falling Sharply
Silver prices witnessed a dramatic recovery in the Multi Commodity Exchange (MCX) futures market on November 4, 2026. After opening at ₹1,79,888 per kg, silver came under selling pressure and dropped to an intraday low of ₹1,77,600. However, strong buying interest emerged at lower levels, pushing the price up to ₹1,82,700 per kg.
This represented a recovery of approximately ₹5,100 per kg from the day’s low. The previous closing price was ₹1,79,698 per kg. The sharp movement highlights the volatility currently being witnessed in the precious metals market.
Gold Also Recovers by ₹1,780
Gold futures also recorded a strong recovery during the trading session. After opening at ₹1,39,408, gold slipped to an intraday low of ₹1,39,177 before recovering to ₹1,40,957. This marked an increase of approximately ₹1,780 from the day’s lowest level.
Market movements in precious metals are being influenced by global developments, including geopolitical uncertainty and movements in international commodity markets.
Important: These figures refer to MCX futures prices reported during the trading session. They are not necessarily the final retail buying prices at jewellery shops, which can vary depending on purity, GST, making charges and local market rates.
Amul Increases Ghee and Butter Prices Before Diwali
While precious metals have recovered in the futures market, consumers have another reason to review their festive budgets. Amul has increased the prices of ghee and butter ahead of Diwali.
Here are the reported price changes:
| Amul Product | Reported Price Increase |
|---|---|
| Ghee (1 kg) | ₹50 |
| Pure Ghee (500 g pack) | ₹20 |
| Butter (100 g pack) | ₹3 |
| Butter (500 g pack) | ₹15 |
Following the reported increase, the price of a 1 kg Amul ghee pack has reached ₹680.
The increase in ghee prices is particularly significant during Diwali, when households use larger quantities of ghee for preparing sweets, snacks, traditional dishes and festive meals. Butter is also a commonly purchased product for everyday cooking and bakery preparations.
Why the Price Hike Matters Before Diwali
Diwali is one of the busiest periods for household shopping in India. Families purchase sweets, dry fruits, groceries, gifts and other festive essentials. Ghee and butter are important ingredients in many traditional preparations. Even a small increase in their prices can affect the overall shopping budget, especially for families purchasing larger quantities.
At the same time, the recovery in gold and silver futures prices is something jewellery buyers and investors may want to monitor before making their festive purchases.
What Should Gold and Silver Buyers Know?
The latest MCX movement does not automatically mean that jewellery prices at local shops have increased by the same amount.
Customers planning to purchase gold or silver during Dhanteras and Diwali should:
- Check the latest local jewellery rates before visiting a store.
- Compare prices across trusted jewellers.
- Check the purity and hallmarking details.
- Ask for a detailed bill showing GST and making charges.
- Avoid making purchase decisions based only on intraday futures movements.
Diwali 2026: Two Developments Consumers Should Watch
With Diwali approaching, the reported increase in Amul ghee and butter prices could affect festive grocery expenses, while the sharp recovery in gold and silver futures has brought fresh attention to the precious metals market.
Consumers planning their Diwali purchases may want to keep an eye on both developments before finalising their festive budgets.
.Also read, SMC Deploys 9 Teams to Check Sweet Shops in Surat Ahead of Diwali; Samples Sent for Testing
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