Jaipur Johari Bazaar Diwali: Gold ₹10,700 Cheaper, Buyers Waiting

Jaipur’s walled-city bazaars are in the middle of their famous Diwali illumination contest, in which the merchant associations of Johari, Bapu, Tripolia and Kishanpole bazaars compete to light their stretch of the old city the brightest. Johari Bazaar, a 500-metre run of jewellers by the Hawa Mahal, is where the city’s Dhanteras gold buying peaks, and this year the Pink City’s sarafa trade says business is running quieter than the season promises.

The rates tell the story. Bhilwara Halchal, reporting the Jaipur Sarafa Association’s figures on October 31, put standard 24K gold at ₹1,42,200 per 10 grams and 22K jewellery gold at ₹1,31,400, after thirty days in which gold became ₹10,700 cheaper per 10 grams and silver fell ₹44,000 to ₹1,84,800 a kilogram. Rakesh Khandelwal of the association told the paper that buyers expecting further falls are postponing purchases and waiting for prices to steady, and he advised investors not to decide in haste and to think long term.

It is an odd pause for a bazaar built for celebration, where kundan and polki wait in pink-fronted shops and Laxmi Mishthan Bhandar has served sweets on the same street since 1727, as the local guides are fond of pointing out. Everything now turns on whether rates settle before Dhanteras on November 6, and whether the waiting crowd finally walks in.

Buyer takeaway: A quiet Johari Bazaar works in your favour. Compare the same kundan or meenakari piece across two or three shops, because making charges on hand-worked pieces vary widely, check the BIS hallmark and HUID number before paying, and see today’s Jaipur rate on our Jaipur page before you go.

Source: Bhilwara Halchal, 31 Oct 2026; Diwali colour: Zingbus, LocalSamosa