Gold Silver Prices are stagnating as the excitement of Diwali, Bhai Dooj, and Chhath Puja has faded. During the festive season, when the market was crowded, prices of these metals skyrocketed. However, prices are now falling due to decreased demand. However, this stagnation will not last long, as the wedding season, which begins in November, is expected to revive the market.
Continuous Decline After Diwali
Gold and silver prices have been steadily falling since Diwali in major bullion markets across the country, including Patna. While the price of 10 grams of gold was ₹1,30,500 on Dhanteras, it has now fallen to ₹1,24,500 per 10 grams. This means that gold has become cheaper by approximately ₹6,000 in just one week. Similarly, silver has also seen a significant decline, now reaching approximately ₹1,64,000 per kg.
A Big Opportunity for Investors
This decline in gold and silver prices is being considered a golden opportunity for investors. Experts say that this decline is temporary and prices will rebound with the wedding season. For those who haven’t yet invested, this could prove beneficial. As demand increases in the coming days, prices will also rise sharply.
Demand Will Rise During Wedding Season
Gold and silver are directly linked to emotions and traditions in India. Jewelry purchases increase during the wedding season, which begins in November. Wedding preparations begin in every household, and people prefer to buy gold and silver as a symbol of good fortune as well as investment. Because of this, there is strong hope that the market will revive.
The market may pick up pace in the coming days
According to experts, factors such as the global economic situation, the dollar index, and changes in interest rates are currently affecting gold and silver prices. However, with the onset of the wedding season in the domestic market, demand for these metals will increase rapidly. As a result, prices may see a rebound.
Gold and silver may have lost some of their shine after the festive season, but this is only a matter of time. The market will be vibrant again during the wedding season starting in November. If you are considering buying gold or silver, this may be the best time for you.
Disclaimer: The information provided in this article is based on current market trends. Please do your own research and seek expert advice before investing.
