Ludhiana, Oct. 17 -- With Dhanteras just a day away, the festive sheen appears to be dimmed in jewellery markets across Ludhiana, as both residents and jewellers feel the pinch of record high gold and silver prices, leading to subdued footfalls and muted sales.

Reportedly, gold prices have soared to an unprecedented Rs.1.32 lakh per 10 grams for 24 carat purity, while 22 carat gold is retailing at around Rs.1.23 lakh. In addition, silver has touched a steep Rs.85,000 per kilogram a figure that has discouraged even regular buyers from indulging in the customary festive purchases.

Explaining the situation, jewellers noted that Dhanteras marks the beginning of Diwali celebrations and is considered an auspicious day for buying gold and silv...