Gold Price Today: Just before Dhanteras, the gold market is witnessing tremendous activity. As the festive season approaches, gold prices are skyrocketing. Gold prices in the Delhi bullion market jumped by ₹3,200, reaching a new record high of ₹1,34,800 per 10 grams. Meanwhile, silver prices have declined, leading to mixed sentiments among investors and buyers.
Gold reaches new record highs in the Delhi market
According to the All India Sarafa Association, gold with 99.9% purity has risen from ₹1,31,600 to ₹1,34,800 per 10 grams. The price of 99.5% pure gold has reached ₹1,34,200 per 10 grams. Thus, gold has once again gained its luster in the market ahead of Dhanteras. Traders say that increased demand during the festive season and investors’ desire for safe investments have pushed gold prices higher.
Increased buying by stockists has boosted the market
Buying gold during festivals is considered auspicious, so stockists have purchased large quantities of gold in the market before Dhanteras and Diwali. Traders also believe that this time people’s buying trend will be higher than in previous years. This is why investors have increased their investments, considering gold a safe bet. Meanwhile, the central bank’s policy of continuously increasing gold reserves has also strengthened the market.
Silver Prices Fall, Relief for Investors
While gold prices are skyrocketing, silver prices have seen a decline of Rs 7,000 this time. This has provided relief to buyers who were planning to purchase silver coins or jewelry during the festive season. This decline in silver prices has certainly brought some stability to the market, but gold’s strong momentum continues.
The Right Time to Invest During the Festivals
This festive season is considered a very special time for investment. Therefore, buying gold and silver during Dhanteras and Diwali can be not only auspicious but also beneficial. Given the potential for further price increases in the coming days, many experts are advising investors to complete their purchases early.
Disclaimer: This article is for general information purposes only. The information provided does not constitute investment or financial advice. Please consult your financial advisor before making any investment decisions.
