Gold Price Today: Just before Dhanteras, gold prices are witnessing a sharp rise. Gold prices have set new records in the Delhi bullion market. The market is currently witnessing a surge in footfall as everyone looks to make auspicious purchases ahead of the festival. While gold continues to rise, silver prices have fallen, surprising both investors and consumers.
Gold reaches new highs in Delhi market
24-carat gold has risen by ₹3,200 to a new high of ₹1,34,800 per 10 grams in the Delhi bullion market. According to the All India Sarafa Association, this is the highest price ever. In the previous session, the same gold closed at ₹1,31,600 per 10 grams. Meanwhile, the price of 99.5% pure gold also rose by ₹3,200 to ₹1,34,200 per 10 grams.
Festive Shopping Drives Demand
There are several reasons behind this surge in gold prices. Demand for gold always increases during the festive season, especially during Dhanteras and Diwali, when buying gold is considered auspicious. This year, heavy buying by jewelers and retailers has boosted the market. Traders report that stockists have also made large purchases in anticipation of potential sales.
Silver Prices Fall, Investors Focus on Gold
On the other hand, silver prices have also declined. Silver has fallen by ₹7,000 in the market. Investors are increasingly inclined towards gold at this time, as it not only symbolizes festivals but is also considered a safe investment.
Gold also remains strong in the international market
Gold prices are also seeing strength globally. Continued purchases by central banks and growing investor confidence are pushing prices higher. If this trend continues, gold could hit another record high by Diwali.
This festive season has become a symbol of prosperity
This festive season is a symbol of auspiciousness and prosperity for people. Therefore, the shine of gold is visible not only in the market but also on people’s faces.
Disclaimer: The information provided in this article is based on general market trends and sources. Please consult your financial advisor or local jeweler before investing or making any purchase.
