Gold and silver in every Samvat since 2007

One Diwali to the next

Diwali is when many Indian households buy gold or silver, and it is also when the Hindu year, the Samvat, turns over. We have already counted what the Nifty 50 did in every Samvat. This post uses the same 19 windows for the metals.

Each year runs from the last regular trading day before one Diwali to the last before the next, the same dates as in that post. Prices are rupees per gram from our gold and silver series, which follow international prices converted at the day's exchange rate. The latest figures are for 9 October 2026, since this year's Diwali falls in November.

All 19 years

What the 18 complete years show

Gold lost money in five years, silver in eight. The down years cluster: Samvat 2069 to 2071 were three losing years in a row for both metals, with gold down 13.50%, 6.84% and 4.97%. Anyone who bought at the Diwali of 2012 was below that price three Diwalis later.

Silver is gold with the volume turned up. In the 10 years both rose, silver beat gold in 6 of them. In years gold fell, silver fell more every time: in 2069 silver lost 23.56% against gold's 13.50%. Silver's best year, +75.89% in Samvat 2065, followed its worst, −24.69%, which is the pattern of a metal that is partly an industrial input and partly a store of value.

Gold beat the Nifty 50 price index in 12 of the 18 years, including 2064, when the index fell 55.71% and gold rose 12.50%. It lagged in the big equity years: 2065, when the Nifty doubled, and 2077, when it rose 40.17% and gold lost 6.68%. The comparison ignores dividends. Our longer gold vs Nifty 50 post looks at ten-year spans.

The last two complete years were exceptional. Gold rose 43.20% and then 65.94%, two of its three best years in the record. Those two years account for most of the gain since 2022: the price went from ₹4,411 to ₹12,334. Treating a Samvat like that as typical, or its end as a signal, would be a mistake. The median year is +15.09%, not +65.94%.

The year under way

In Samvat 2082 so far, gold is up 6.41% and silver 30.58%. Silver's lead is large, but with five weeks to Diwali on 8 November the year can still move either way; Samvat 2074 and 2078 both ended with silver negative while gold was positive.

Over the whole record, from 8 November 2007 to 9 October 2026, gold rose from ₹1,054 to ₹13,125 a gram, about 12.5 times. Silver rose from ₹19.5 to ₹188.9, about 9.7 times, with a much rougher ride.

What this does not tell you

A rupee price includes the rupee. Part of every move here is the exchange rate. In years the rupee weakened, rupee gold rose even if dollar gold did not; see gold in rupees vs gold in dollars.

Eighteen years is a small sample. The year-to-year numbers swing too much for the median to be a forecast.

Buying at Diwali is not special. The calendar date has no effect on the price; this is a convenient way to cut 19 years into equal pieces, not evidence that Diwali is a good or a bad day to buy.

Jewellery costs more. These are metal prices. Making charges, GST and the buy-sell spread are not in them.

Where to go from here

For the way to hold gold, see SGB vs gold ETF vs physical gold. For this year's prices, see gold and silver prices year to October 2026, and for the relation between the two metals, the gold-silver ratio.